Potentially

Setting the stage for a potentially precedent-setting courtroom duel between the executive and legislative branches of government, the General Accounting Office (GAO) officially notified President Bush and Vice President Dick Cheney Wednesday of its plans to file a lawsuit to gain access to records and information of the Cabinet-level task force that developed the administration’s energy policy.

Gasco Energy Inc. and Burlington Resources plan to explore and potentially develop a series of deep natural gas plays in Wyoming’s Greater Green River Basin under an agreement announced Thursday. The companies plan to jointly explore and develop seven areas of mutual interest (AMI) under an umbrella exploration agreement covering 332,000 acres in west-central Wyoming. Financial details were not disclosed. Houston-based Burlington will be operator of each and AMI will hold a 50% working interest. Gasco, headquartered in Denver, will own a 25% working interest and a private company will own the remaining 25%. Under the agreement, Burlington will acquire about 180 miles of high resolution 2-D seismic data with an obligation to drill two wells at its cost. The partners then would share subsequent costs on additional wells that are drilled. The agreement also would give Burlington the right to make drilling decisions on the AMIs between now and August 2003.

Gasco Energy Inc. and Burlington Resources plan to explore and potentially develop a series of deep natural gas plays in Wyoming’s Greater Green River Basin under an agreement announced Thursday. The companies plan to jointly explore and develop seven areas of mutual interest (AMI) under an umbrella exploration agreement covering 332,000 acres in west-central Wyoming. Financial details were not disclosed.

Pointing out the potential for market power abuses during this summer’s peak demand periods, the New York Independent System Operator (NYISO) has asked FERC to give it a quick go-ahead to penalize for repeated abuses of market power in the Empire State.

Pointing out the potential for market power abuses during this summer’s peak demand periods, the New York Independent System Operator (NYISO) has asked FERC to give it a quick go-ahead to penalize for repeated abuses of market power in the Empire State.

After overcoming an early setback, natural gas bulls stole the show for the third-straight session yesterday, as commercial traders propelled the futures market past several important technical levels. By virtue of its 12.2-cent advance and $4.301 closing price, the July contract has rebounded almost 60 cents from last Friday’s lows to notch a new three-week high.

The frenzied pace of pipeline expansion in the West clearly is not over yet. PG&E Gas Transmission Northwest (GTN) is planning another major expansion, potentially 500 MMcf/d, with a targeted in-service date of November 2003.

Sempra Energy Resources, the wholesale power-generation subsidiary of Sempra Energy, today signed a 10-year agreement potentially worth $7 billion with the California Department of Water Resources (CDWR) to supply up to 1,900 MW of electricity to the state.

The frenzied pace of pipeline expansion in the West clearly is not over yet. PG&E Gas Transmission Northwest (GTN) is planning another major expansion, potentially 500 MMcf/d, with a targeted in-service date of November 2003.