Positive

The board of EXCO Resources Inc. has formed a special committee to consider a buyout proposal from CEO Douglas H. Miller. Evaluation of the offer — and any others that might come — is expected by analysts to take anywhere from six to 12 months.

Growing natural gas liquids (NGL) production — particularly that of ethane — is a positive story for the petrochemical industry as well as oil and gas producers. However, talk of an NGL glut is growing louder as the industry continues to grow production and build out infrastructure. Opinions vary on what is to come.

Growing natural gas liquids (NGL) production — particularly that of ethane — is a positive story for the petrochemical industry as well as oil and gas producers. However, talk of an NGL glut is growing louder as the industry continues to grow production and build out infrastructure. Opinions vary on what is to come.

Growing natural gas liquids (NGL) production — particularly that of ethane — is a positive story for the petrochemical industry as well as oil and gas producers. However, talk of an NGL glut is growing louder as the industry continues to grow production — particularly from liquids-rich shale plays — and build out infrastructure. Opinions vary on what is to come.

In a positive turn less than two weeks after federal officials lifted the offshore drilling moratorium, Chevron Corp. on Thursday sanctioned the long-awaited Jack/St. Malo project, a promising project that it would operate in the Lower Tertiary trend in the deepwater Gulf of Mexico (GOM).

Pacific Gas and Electric issued a systemwide Stage 2 high-inventory OFO for Thursday on its California Gas Transmission system, setting penalties of $1/Dth for exceeding an 11% tolerance on positive daily imbalances.

Pacific Gas and Electric issued a systemwide Stage 2 high-inventory OFO for Friday, setting penalties of $1/Dth for exceeding a 7% tolerance on positive daily imbalances.

Tennessee said Wednesday it was lifting a systemwide OFO Action Alert against positive imbalances.

Pacific Gas and Electric issued a systemwide Stage 2 high-inventory OFO for Thursday on its California Gas Transmission system, setting penalties for exceeding a 5% tolerance on positive daily imbalances at $1/Dth.