Principle

Florida-based TECO Energy last week struck its first utility purchase outside its home state in an agreement to buy New Mexico Gas Co., the state’s principle gas provider, for $950 million, including $200 million of debt. The transaction adds 50% to TECO’s Sunbelt-focused customer base.

MarkWest Utica EMG LLC said Tuesday it has an agreement in principle with Gulfport Energy Corp. and some undisclosed producers to develop extensive midstream infrastructure in the liquids-rich portion of eastern Ohio’s Utica Shale.

Although noting that industry never wants to be taxed, one of the largest players in the Marcellus Shale said it supports an impact fee in principle.

A $28 billion 2010-11 state budget was passed last Wednesday by Pennsylvania legislators but a severance tax on natural gas drilling, which budget negotiators agreed to in principle, was not included in the bill. Instead, Pennsylvania House and Senate members agreed to enact a severance tax by Oct. 1 to take effect by Jan. 1.

A $28 billion 2010-11 state budget was passed late Wednesday by Pennsylvania legislators but a severance tax on natural gas drilling, which budget negotiators agreed to in principle, was not included in the bill. Instead, Pennsylvania House and Senate members agreed to enact a severance tax by Oct. 1 to take effect by Jan. 1.

Natural Gas Pipeline Company of America (NGPL) and Great Lakes Gas Transmission Ltd. Partnership have reached settlements in principle with their shippers to resolve Section 5 complaint allegations that they overrecovered their cost of service.

Natural Gas Pipeline Company of America (NGPL) and Great Lakes Gas Transmission Ltd. Partnership have reached settlements in principle with their shippers to resolve Section 5 complaint allegations that they overrecovered their cost of service.

Sempra Energy and California officials announced last Wednesday that they had reached a $410 million agreement in principle resolving substantially all of the remaining litigation tied to the state’s 2000-01 wholesale energy crisis. The deal requires FERC approval, which the parties said they expect before the end of this year.

Sempra Energy and California officials announced Wednesday they had reached a $410 million agreement in principle resolving substantially all of the remaining litigation tied to the state’s 2000-01 wholesale energy crisis. The deal requires FERC approval, which the parties said they expect before the end of this year.