Remaining

Prices continued to drop by generally small amounts at nearly all points Thursday despite cooling load remaining heavy in some areas. A few cooling trends and the previous day’s downturn of 6.5 cents by prompt-month futures were primary components of the cash market softness.

The Northeast rejoined the overall market in recording mostly moderate losses Tuesday. Heat levels across most of the southern third of the U.S. are remaining somewhat onerous, but highs in the 80s or less continue to dampen cooling load.

Encore Energy Partners LP (ENP) and its general partner, Vanguard Natural Resources LLC, each are acquiring a 50% stake in producing oil and gas assets in the Permian Basin from a private seller for a total price of $85 million.

With a force majeure declared Sunday and associated constraints remaining in effect until further notice at Steele City Compressor Station (see Daily GPI, June 7), Rockies Express (REX) said it has determined that replacing the entire power turbine in lieu of only the damaged section is the most expeditious means of returning Unit #2 to service. Completion of assembling a new turbine is expected this coming Sunday, REX said. The turbine is expected to arrive on site Tuesday, and barring any unforeseen circumstances in shipping, installation and commissioning, the resumption of service at Steele City is now estimated to occur on or about Wednesday, REX said.

FERC has approved Trunkline Gas Co. LLC’s proposal to modify a portion of its existing South Texas System to allow the bidirectional transportation of liquids-rich natural gas from the Eagle Ford Shale play in South Texas.

Houston-based Vanguard Natural Resources LLC on Friday made an offer valued at about $567 million to buyout the remaining stake of Encore Energy Partners LP (ENP), about 54%, that it doesn’t already own.

With a growing generation portfolio elsewhere in North America, Canada-based Fort Chicago, the backer of one of two remaining proposed liquefied natural gas (LNG) projects in Oregon, is also looking longer term to develop gas-fired generation plants around the Pacific Northwest. The effort will go forward whether or not its Jordan Cove LNG project at Coos Bay, OR, ever gets built.

With a growing generation portfolio elsewhere in North America, Canada-based Fort Chicago, the backer of one of two remaining proposed liquefied natural gas (LNG) projects in Oregon, is also looking longer term to develop gas-fired generation plants around the Pacific Northwest. The effort will go forward whether or not its Jordan Cove LNG project at Coos Bay, OR, ever gets built.

Houston’s Cabot Oil & Gas Corp., which now is focused on shale exploration, said Tuesday it sold its remaining investment in Canada for $61.3 million.