Calgary-based Nexen Inc. said Monday media reports of a possible breakup or sale of parts of the company are incorrect. The announcement followed reports that hedge funds are pushing for a breakup and an analyst report that a spin off of assets could realize additional value.
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BLM’s Wyoming Office Awaits Protests for Proposed Rawlins RMP
The U.S. Bureau of Land Management (BLM) has issued a final environmental impact statement (FEIS) for its revised Rawlins, WY, Resource Management Plan (RMP), outlining possible actions and their corresponding impacts for the millions of acres of natural gas-rich land in southern Wyoming. And now the agency is awaiting comments and the expected protests.
National Fuel Gas Wary of Largest Stockholder
The Pennsylvania Public Utility Commission (PUC) last Thursday voted unanimously to look into the possible change of control of National Fuel Gas Distribution Corp. and the actions of New Mountain Vantage and others acting in concert with New Mountain.
Pennsylvania PUC Looking Into National Fuel’s Pursuer
The Pennsylvania Public Utility Commission (PUC) Thursday voted unanimously to look into the possible change of control of National Fuel Gas Distribution Corp. and the actions of New Mountain Vantage and others acting in concert with New Mountain.
Unimpressed by Storm Talk, Futures Head Lower
Despite word that a possible tropical storm could be swirling in the Gulf of Mexico as early as Thursday, natural gas futures traders put downward pressure on the October contract in Wednesday’s trade. The prompt month recorded a low of $6.160 before closing out at $6.180, down 38.8 cents from Tuesday’s close.
Industry Briefs
SEMCO Energy Gas Co. said Thursday that it is alerting customers of possible deceptive marketing tactics targeting natural gas customers in the utility’s service areas. The company said it has received complaints of customers being contacted by people claiming to be marketing natural gas contracts to residential and business customers and implying they are associated with SEMCO Energy. SEMCO Energy said it does not solicit residential or commercial customers for natural gas contracts and is urging its customers to be “extremely cautious” about any personal information they provide in telephone solicitations. The utility advised customers who have questions about being contacted by someone representing SEMCO Energy to call 1-800-624-2019.Customers of the utility have the option to buy their natural gas from a third-party provider, however, SEMCO Energy said it does not solicit customers to sign up for the customer choice program. The Michigan Public Service Commission (MPSC) provides a list of all natural gas marketers licensed in Michigan on the MPSC website: http://www.cis.state.mi.us/mpsc/gas/choice.htm. The site includes a tab showing eligible customer choice marketers active in SEMCO Energy’s service areas. The utility distributes natural gas to more than 400,000 customers combined in Michigan, as SEMCO Energy Gas Co. and in Alaska, as ENSTAR Natural Gas Co.
Pogo Sells Northrock for $2B, Still Exploring Sale of Company
Pogo Producing Co. confirmed last week that it is still exploring the possible sale or merger of the company after announcing the sale of Canadian subsidiary Northrock Resources Ltd. for $2 billion in cash to Abu Dhabi National Energy Co. (TAQA).
Pogo Sells Northrock for $2B, Still Explores Sale of Company
Pogo Producing Co. confirmed Tuesday that it is exploring the possible sale or merger of the company after announcing the sale of Canadian subsidiary Northrock Resources Ltd. for $2 billion in cash to Abu Dhabi National Energy Co. (TAQA).
NGI The Weekly Gas Market Report
Chevron’s O’Reilly Says Industry Better Prepared for Hurricane Season
The energy industry has done all it can to prepare for possible hurricanes in the Gulf of Mexico this summer, but a “fragile people situation” remains, Chevron Corp. CEO Dave O’Reilly said Wednesday.
Chevron CEO Says Energy Industry Prepared for Hurricane Season
The energy industry has done all it can to prepare for possible hurricanes in the Gulf of Mexico this summer, but a “fragile people situation” remains, Chevron Corp. CEO Dave O’Reilly said Wednesday.