Reached

TransCanada Corp. said this week that it has reached an agreement with shippers on reduced tolls for its Canadian Mainline, which runs from Empress, AB, to Dawn ON, and has filed the application with the National Energy Board (NEB) for approval. The new tolls would become effective Jan. 1.

Halliburton Co.said it has reached an agreement to turn over to the Environmental Protection Agency (EPA) all documents related to fluids used in the controversial hydraulic fracturing (fracking) process, ending a battle that could have landed in court.

The American Gas Association (AGA), which represents natural gas utilities, said it was encouraged by the deal that President Obama and congressional Republicans have reached to extend the Bush-era tax cuts, including a reduction in the maximum dividend tax rate to 15% for an additional two years.

After recording its third consecutive low for the downtrend in as many days, natural gas futures staged a meager rebound on Tuesday as the November contract reached a high of $3.530 before closing the regular session at $3.513, up 8.2 cents from Monday.

Although there was similar optimism two weeks earlier, Pacific Gas and Electric Co. (PG&E) signaled Thursday it expects a settlement on “nearly all issues” to be reached Friday in its billion-dollar general rate case. It is perhaps further verification that settlement talks are progressing positively.

With improved credit markets and increased CEO confidence, the U.S. market for oil and gas mergers and acquisitions (M&A) in 2Q2010 reached its highest level in more than six quarters, according to a survey by PricewaterhouseCoopers LLP (PwC).

With improved credit markets and increased CEO confidence, the U.S. market for oil and gas mergers and acquisitions (M&A) in 2Q2010 reached its highest level in more than six quarters, according to a survey by PricewaterhouseCoopers LLP (PwC).

BP said early Wednesday that its runaway Macondo well appears to have reached a static condition, with pressure now being controlled by the hydrostatic pressure of drilling mud that was pumped into the well Tuesday.

Dominion Transmission has reached a 15-year agreement with the gas subsidiary of Consol Energy Inc. for firm transportation of Consol’s Marcellus Shale production. The associated project — which would include new compression facilities at three existing stations in central Pennsylvania — would be capable of transporting 200,000 Dth/d. It would move supplies from various receipt points in central and southwestern Pennsylvania to a nexus of market pipelines and storage facilities in Leidy in Clinton County, PA. Earlier this year Dominion sold its natural gas exploration and production business to Consol (see NGI, March 22). Dominion plans to file in December with the Federal Energy Regulatory Commission for a certificate for the project. If the project is approved, construction is planned to begin in March 2012 for in-service in November 2012.