The Marcellus Shale industry is driving job growth in Pennsylvania, according to new government figures.
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Encana Nabs Duvernay Shale Acreage, Looks for More JVs
Encana Corp.’s latest quarterly profits took it on the chin because of low natural gas prices, but the Calgary producer is responding with a realignment by transferring proven gas shale technology to liquids plays, advertising for partners to share costs in gassy northeast British Columbia (BC), and quietly acquiring an oily leasehold in Alberta’s Duvernay Shale.
CFTC Asked to Refine Definitions of Swap Dealers, Swap Participants
Natural gas utilities, commercial firms and state regulators have called on the Commodity Futures Trading Commission (CFTC) to refine its proposed definitions for swap dealers and major swap participants, which — unlike commodity end-users — will be subject to mandatory clearing of swaps under the agency’s proposed reforms (see NGI, Dec. 6, 2010).
Fastow Subordinate Says Financial Shenanigans ‘No Great Secret’
A former employee of ex-Enron Corp. CFO Andrew Fastow testified Tuesday that backdating company documents within some of the company’s special purpose entities (SPEs) was so common it was jokingly called “time travel” in the office. Chris Loehr, one of the few government witnesses not under indictment to testify at the trial of Enron founder Kenneth Lay and ex-CEO Jeffrey Skilling, appeared to bolster Fastow’s claims about financial shenanigans within LJM partnerships, which were used to keep Enron’s poorly performing assets off the balance sheet.
El Paso Revamps Corporate Structure, Cuts Jobs
El Paso Corp. has completed the “creation of a fit-for-purpose organization” that resulted in job losses for about 40% of its corporate officers, 21% of its directors and 9% of the rest of the organization, not including field operations or field services businesses.
El Paso Fires 40% of Corporate Officers, Cuts Directors 21%, Workforce 9%
El Paso Corp. announced that it had “completed the creation of a fit-for-purpose organization” last week that resulted in a 40% reduction in corporate officers, 21% of its directors and 9% of the rest of the organization, not including field operations or field services businesses.
Alberta Regulators Decrease Recommended Well Shut-Ins to 485
As the battle rages on over shutting in natural gas wells for the purpose of preserving crude bitumen recovery from the Wabiskaw-McMurray formation located in northern Alberta, province regulators revised downward the number of gas wells they believe should be closed.
Alberta Regulators Decrease Recommended Well Shut-Ins to 485
As the battle rages on over shutting in natural gas wells for the purpose of preserving crude bitumen recovery from the Wabiskaw-McMurray formation located in northern Alberta, province regulators revised downward the number of gas wells they believe should be closed.
Cheniere Forms LNG Trading Affiliate; Leases Ship
Cheniere Energy Inc. on Friday announced the formation of J&S Cheniere S.A., a company created for the purpose of buying, selling and trading liquefied natural gas (LNG). Cheniere holds a minority interest in the company, which is based in Switzerland.
Enron Inquiry Questions Actual Worth of Pipelines, Power Plants
The federal investigation into Enron Corp.’s numerous special purpose entities (SPE) has stumbled upon the question of whether investors also were misled about the value of the company’s natural gas pipelines and power plants, according to a report in The New York Times Thursday.