Provide

A proposal by NiSource subsidiary Energy Interchange to provide hub and storage services in Louisiana and Mississippi has come under sharp attack from shippers on affiliate Columbia Gulf Transmission.

The Commodity Futures Trading Commission (CFTC) has approved final regulations regarding whistleblower incentives and protection, including provisions to pay individuals who provide the Commission with information about Commodity Exchange Act violations as much as 30% of monetary sanctions subsequently collected. The rules, which the CFTC approved by a 4-1 vote, would allow the Commission to award whistleblowers 10-30% of the monetary sanctions collected in either a CFTC-covered judicial action, administrative action or related action. Actions covered by the regulations include only those resulting in successful resolution resulting in monetary sanctions exceeding $1 million, and the Commission would exercise discretion in granting awards based on several criteria, including the significance of the information provided by whistleblowers. The final regulations become effective 60 days after publication in the Federal Register.

A study of the biggest risks associated with hydraulic fracturing (hydrofracking), as well as recommended policies to reduce those risks, has been launched by an arm of the nonpartisan Resources for the Future (RFF).

Whether one loves or hates hydrocarbon fuels, “they are here to stay,” an energy lecturer and author told a Houston audience. “They provide nine out of 10 units of energy, nine out of 10 units of power…That will remain the case for decades to come. Energy transitions happen over decades or centuries, not over years.” The transition under way now is to natural gas, particularly that from shale plays, he said.

The Environmental Defense Fund’s (EDF) Mark Brownstein held up an oil and gas company’s magazine advertisement touting “responsible” energy development. “The point is, I don’t really know if it’s true. In fact, no one really knows if it’s true,” said EDF’s energy program deputy director.

Williams Partners LP (WPZ) has been awarded a contract by Hess Corp. to provide production handling services in the Tubular Bells field of the deepwater Gulf of Mexico (GOM).

Triangle Petroleum Corp. said it has acquired about 42,000 net acres prospective for the Bakken and Three Forks formations in the Williston Basin, bringing its total net acreage position in the Williston Basin to 72,000 net acres and bring its net operated acres to 51,000.

Range Production Co.’s lawsuit to compel the U.S. Environmental Protection Agency (EPA) to provide documents related to its investigation of Range’s alleged contamination of water wells in the Barnett Shale region in North Texas was dismissed without prejudice in U.S. District Court for the Western District of Texas. Judge Le Yeakel said Range’s pursuit of the documents in conjunction with a case before the Railroad Commission of Texas (RRC) was rendered moot when the RRC found Range to be not responsible for methane in the water wells (see Daily GPI, March 23). Range and EPA are still battling in federal court over the agency’s enforcement action against Range.

Rockies natural gas pricing “continues to strengthen on a relative basis,” and new pipelines scheduled for completion this year will provide even more market access, Ultra Petroleum Corp. CEO Michael Watford said during a first quarter earnings conference call.