Progress

The marathon review of a 32-year-old moratorium against natural gas exploration offshore of British Columbia has ended in a hung jury — and a warning to the minority Liberal government in Ottawa that it will take its life in its hands if it tries to change the status quo.

The marathon review of a 32-year-old moratorium against natural gas exploration offshore of British Columbia has ended in a hung jury — and a warning to the minority Liberal government in Ottawa that it will take its life in its hands if it tries to change the status quo.

The marathon review of a 32-year-old moratorium against natural gas exploration offshore of British Columbia has ended in a hung jury — and a warning to the minority Liberal government in Ottawa that it will take its life in its hands if it tries to change the status quo.

El Paso Corp. on Tuesday closed $3 billion of credit facilities, which CEO Doug Foshee said indicate the “significant progress” the company has made to improve its financial position. The new facilities replace an existing facility set to expire in June 2005.

El Paso Corp. on Tuesday closed $3 billion of credit facilities, which CEO Doug Foshee said indicate the “significant progress” the company has made to improve its financial position. The new facilities replace an existing facility set to expire in June 2005.

Cheyenne Plains Gas Pipeline, a subsidiary of El Paso Corp., hasn’t even finished constructing its 380-mile line to deliver Rocky Mountain natural gas supplies to eastern markets, and FERC has issued a certificate to expand the system.

Cheyenne Plains Gas Pipeline, a subsidiary of El Paso Corp., hasn’t even finished constructing its 380-mile line to deliver Rocky Mountain natural gas supplies to eastern marketers, and FERC has issued a certificate to expand the system.

The Minerals Management Service (MMS) reported some progress Wednesday in returning Gulf of Mexico production to pre-Ivan levels, but severe weather in the Gulf is hindering the return of personnel. Based on reports from 18 companies, MMS said gas production shut-ins as of 11:30 a.m. CDT Wednesday were down to about 2,400.20 MMcf/d from 2,790.9 MMcf/d on Tuesday and 2,894.88 MMcf/d on Monday. Oil shut-ins fell to 578,411 bbl/d from 665,665 a day earlier.

Culminating a week of progress in pulling together the financing underpinning of its exit from Chapter 11 bankruptcy protection, Pacific Gas and Electric Co. on Friday announced that it intends to offer $6.7 billion in first mortgage bonds to help pay credit claims in its $12 billion utility bankruptcy. This followed announcement earlier in the week that the utility secured $2.9 billion in credit facility commitments and authorization from California state regulators for its new financial structure.