The U.S. Department of Justice (DOJ) has notified victims of Enron Corp.’s fraud and 2001 bankruptcy that they have until April 17 to object to a possible resentencing agreement with imprisoned former CEO Jeffrey Skilling. Skilling, 59, has served more than six years of a 24-year prison term after he was convicted by a Houston jury in U.S. District Court for the Southern District of Texas in May 2006 on 19 criminal counts for securities fraud, conspiracy, making false statements to auditors and insider trading (see NGI, May 29, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans reaffirmed the conviction in 2011, finding that the federal government’s evidence of conspiracy was “overwhelming,” but it reiterated, as it had in 2009, that the sentence had been miscalculated by the district court (see NGI, April 11, 2011). The resentencing issue was remanded to the lower court (U.S. v. Skilling, U.S. District Court, Southern District of Texas, No. 04-cr-00025).
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The West Virginia Department of Environmental Protection (DEP) ordered Noble Energy Inc. to cease operations and regain control of an impoundment pit in Marshall County after thousands of gallons of drilling wastewater spilled into a waterway in February.
Enbridge Inc. and Energy Transfer are planning to develop a pipeline to carry crude oil from Western Canada and the Bakken Shale, by way of the Patoka, IL, hub to the eastern Gulf Coast in a project that would convert portions of the Trunkline Gas Co. LLC natural gas system to oil service.
Less than one-third of the drilling rigs now operating in the Gulf of Mexico (GOM) apparently have been impacted by a possible defect in bolts that are connected to well blowout preventers (BOP), according to the Bureau of Safety, Environment and Enforcement (BSEE).
Antero Resources announced Monday that its proved reserves had increased 73% in one year by the end of 2012, while its proved, probable and possible (3P) reserves had increased 94% and its natural gas liquids (NGL) reserves increased by 170% during the same time frame, all thanks to discoveries in the Marcellus and Utica shale plays.
In the headline of a story published Jan. 2, “DOE Identifies 2.4B Metric Tons of CO2 Storage Capacity” (see Daily GPI, Jan. 2), the amount of possible carbon dioxide (CO2) storage capacity in U.S. saline formations, oil and gas reservoirs and unmineable coal seams was incorrectly stated. The Department of Energy report actually identified 2.4 trillion metric tons of CO2 storage capacity. NGI regrets the error.
In an effort to avoid having to restart the process from square one, the New York Department of Environmental Conservation (DEC) will file for a 90-day extension on Thursday to finalize rules governing high-volume hydraulic fracturing (HVHF).
U.S. shale plays are on the right track, regulation-wise, even regarding hydraulic fracturing (fracking), according to oil and natural gas professionals surveyed recently by Deloitte LLP.