Portion

An explosion rocked a portion of Colorado Interstate Gas Co.’s (CIG) mainline in Colorado on March 23, but it did not interrupt natural gas deliveries to the region or cause any injuries, according to the pipeline. On Friday, a spokesman for El Paso Corp., which owns CIG, said repairs on the damaged section of the pipeline had been completed, and the company was awaiting clearance from the federal Office of Pipeline Safety (OPS) to begin flowing gas through the affected line.

An explosion rocked a portion of Colorado Interstate Gas Co.’s mainline in Colorado Sunday evening, but it did not interrupt natural gas deliveries to the region or cause any injuries, a spokesman for the pipeline said Monday.

Kerr-McGee Corp. Oil & Gas Onshore LP has sold a portion of its West Texas and Oklahoma producing assets for $127 million to Aethon I, LP. The sale includes 16 fields with estimated net production of 4,900 b/d of oil and 7 MMcf/d of gas. Kerr-McGee said proceeds from the sale have been used to reduce debt.

Kerr-McGee Corp. Oil & Gas Onshore LP has sold a portion of its West Texas and Oklahoma producing assets for $127 million to Aethon I, LP. The sale includes 16 fields with estimated net production of 4,900 b/d of oil and 7 MMcf/d of gas. Kerr-McGee said proceeds from the sale have been used to reduce debt.

When a portion of Mexico’s gas-rich Burgos Basin opens to foreign investment as expected later this year, the progress of investment and development will be a critical test case for both foreign industry and the Mexican government, according to the authors of a new research report by Cambridge Energy Research Associates (CERA).

The Federal Energy Regulatory Commission gave the green light last Thursday for the 681-mile Phase One portion of Gulfstream Natural Gas System to begin serving the growing Florida gas market. The pipeline, which is jointly sponsored by Duke Energy and Williams, could start up as early as Tuesday (May 28), said Gulfstream spokesman Chris Stockton.

The Federal Energy Regulatory Commission gave the green light Thursday for the Phase One, 681-mile portion of Gulfstream Natural Gas System to begin serving the growing Florida gas market. The pipeline, which is jointly sponsored by Duke Energy and Williams, could start up as early as next Tuesday (May 28), said Gulfstream spokesman Chris Stockton.

Becoming the latest industry player to attempt to cash in on natural gas market volatility, Fort Worth-based XTO Energy Inc. has hedged 100 MMcf/d of production for 2003 at an average New York Mercantile Exchange (Nymex) price of $4.06/Mcf. A few days ago, Energen Resources Corp. locked in 40 new natural gas contracts in all 12 months of 2003, representing 4.8 Bcf of production at an average Nymex price of $4.10/Mcf.

The National Energy Board said it will hold a public hearing on consideration of the toll treatment of the Northwest Facilities, a mainline extension of Maritimes and Northeast Pipeline (M&NE) in New Brunswick that would have to be built to support the Cartier Pipeline project in Quebec. Cartier, which is being proposed by Enbridge and Gaz Metropolitain, would bring Atlantic Canadian natural gas to Quebec City from a connection with the Northwest Facilities.