Reject

Quicksilver Resources Inc. found a silver lining in the recent decision by Canada’s National Energy Board (NEB) to reject TransCanada Corp.’s Komie North Extension pipeline project in the Horn River Basin.

Elected officials in the Town of Chenango, NY, voted 3-2 to reject a moratorium on local ordinances that, if enacted, would have delayed permitting for oil and natural gas activities, including hydraulic fracturing (fracking), within the Broome County town’s limits.

Pacific Gas and Electric Co. (PG&E) has asked California regulators to reject a proposed list of penalties by the state safety staff for the utility’s shortcomings prior to the San Bruno, CA, pipeline explosion.

Two power groups have called on FERC to reject ISO New England Inc.’s (ISO-NE) proposal to share real-time information on individual natural gas-fired power generators with interstate gas pipelines serving the region. The ISO has asked the Federal Energy Regulatory Commission (FERC) to approve its proposal quickly to head off concerns about unreliable generation dispatch this winter in an increasingly gas-dependent region.

Two power groups have called on FERC to reject ISO New England Inc.’s (ISO-NE) proposal to share real-time information on individual natural gas-fired power generators with interstate gas pipelines serving the region. The ISO has asked the Federal Energy Regulatory Commission (FERC) to approve its proposal quickly to head off concerns about unreliable generation dispatch this winter in an increasingly gas-dependent region.

Management of Australia’s Eureka Energy Ltd., which has acreage in the Eagle Ford Shale of South Texas, told shareholders they should reject an unsolicited offer from Aurora Oil and Gas Ltd., also of Australia and an Eagle Ford player. “The board considers the offer to be opportunistic and designed to solicit shareholders to sell their shares at a time when the company’s strategic direction and underlying potential is still emerging,” said Eureka Acting Managing Director Bill Bloking. Aurora has made an A$107 (US$111.7 million) unsolicited offer for Eureka. Aurora said the unconditional, all-cash offer represents “an attractive premium” (36.4% to Eureka’s previous closing price) and gives Eureka shareholders the opportunity to “crystallize immediate and certain value for their shares.” The acquisition would build Aurora’s “already strong presence in the Sugarkane Field, growing its portfolio of Eagle Ford interests” in line with its strategy, said Aurora CEO Jon Stewart (see Shale Daily, May 1).

As predicted, the Colorado Senate Local Government Committee Thursday voted 4-1 to reject a proposal to prevent local governments from regulating oil/gas drilling activity in their jurisdictions.

Major producers have called on FERC to reject El Paso Natural Gas Co.’s proposal to abandon more than 90,000 hp of compression in the San Juan Triangle and North Mainline of the pipeline’s system, saying it would result in constrained capacity and potentially higher transportation rates.

Major producers have called on FERC to reject El Paso Natural Gas Co.’s proposal to abandon more than 90,000 hp of compression in the San Juan Triangle and North Mainline of the pipeline’s system, saying it would result in constrained capacity and potentially higher transportation rates.