Raise

Houston-based Plains Exploration & Production Co. (PXP) said Thursday it hopes to raise $1-2 billion by selling its Gulf of Mexico (GOM) portfolio either through third-party joint ventures or through asset sales “to align capital spending with operating cash flow.”

Houston-based Plains Exploration & Production Co. (PXP) said Thursday it hopes to raise $1-2 billion from its Gulf of Mexico (GOM) properties either through third-party joint ventures or through asset sales “to align capital spending with operating cash flow.”

Chesapeake Midstream Partners LP on Tuesday said it would launch an initial public offering (IPO) to raise up to $425 million. Timing of the launch was not disclosed.

Idaho regulators on Wednesday announced customer workshops June 28-29 on Spokane, WA-based Avista Utilities request in March that it be allowed to raise electric and natural gas retail utility rates for its customers in the northern panhandle part of the state. The sessions will be held in Lewiston and Coeur d’Alene, ID, respectively.

Chesapeake Energy Corp. last week began to drastically alter its natural gas-weighted operations in a bid to raise up to $5 billion to repay up to $3.5 billion of senior debt and to increase its investment in liquids-rich plays by up to $1.5 billion.

President Obama is sending to Congress legislation that would raise a producer’s liability for economic damages from an oil spill, administration officials said Wednesday. The measure calls for the higher cap to take effect retroactively to include damages from the blowout of the BP-leased rig and the subsequent massive oil slick in the Gulf of Mexico.

Chesapeake Energy Corp. on Monday announced a revamp of its natural gas operations in a plan to raise up to $5 billion to repay up to $3.5 billion of senior debt and to increase its investment in liquids-rich plays by up to $1.5 billion.

Caledonia Energy Partners LLC has asked the Federal Energy Regulatory Commission for authorization to raise the maximum storage capacity at its facility in Lowndes and Monroe counties, MS, to 28.1 Bcf from 22.7 Bcf. Working gas capacity would increase to 22 Bcf from 16.9 Bcf. The maximum daily withdrawal rate would be 550 MMcf/d, and the maximum injection rate would be 558 MMcf/d. Caledonia Energy said it would not have to construct any additional facilities to make the additional capacity available.

Caledonia Energy Partners LLC has asked the Federal Energy Regulatory Commission for authorization to raise the maximum storage capacity at its facility in Lowndes and Monroe counties, MS, to 28.1 Bcf from 22.7 Bcf. Working gas capacity would increase to 22 Bcf from 16.9 Bcf. The maximum daily withdrawal rate would be 550 MMcf/d, and the maximum injection rate would be 558 MMcf/d. Caledonia Energy said it would not have to construct any additional facilities to make the additional capacity available.