The Minerals Management Service (MMS), looking to foster exploration in more remote areas of the Alaska Outer Continental Shelf, is assessing industry interest in exploring for oil and gas in Alaska’s Chukchi Sea/Hope Basin and Norton Basin.
Articles from Remote
Hurricane Isabel, packing super-powerful maximum sustained winds of nearly 140 mph and pointing at shooting the gap between southern Florida and Cuba, was accorded most of the credit Wednesday for rallying cash prices and sustaining a futures run-up. Cash market movement ranged from flat to slightly more than a dime higher. Most of the smallest gains were clustered at California and Rocky Mountains/Pacific Northwest points, which tend to be least affected by hurricane disruptions of offshore supply.
Dallas-based TXU has begun soliciting bids to sell about 250miles of a remote intrastate pipeline and distribution system inTexas in an effort to prune down some of its less critical assets.The system, inherited by TXU when then-Texas Utilities merged withLone Star Gas parent Enserch in 1997, runs through the West TexasPanhandle area, through an unincorporated region covering eightcounties. TXU’s Carol Peters said the company already has gotteninquiries about the short pipeline. “The sale is part of a trimmingdown process,” Peters said. “The company found that the pipelinewas not strategic to its critical assets in TXU’s long-term plan toremain competitive in the energy industry.” Peters said she did notknow if any other pipelines in the state would be sold, but saidreviews were an “ongoing process,” with TXU constantly reviewingall of its assets to ensure they contribute to earnings. “We alwayswant to make sure that all of our assets fit with where we’re goingas a company.” Most of the pipeline system consists of 12- and10-inch mainlines and smaller distribution lines through Coke,Coleman, Concho, Edwards, Runnels, Schleicher, Sutton and Tom Greencounties in the San Angelo area. TXU operates two natural gaspipeline systems across the state, consisting of TXU Lone StarPipeline, TXU Fuel Co. and TXU Processing Co. TXU Lone Star is theTexas intrastate pipeline that connects three major Texas marketcenters at Waha, Carthage and Katy. The pipeline system expected togo up for sale does not overlap with any of TXU’s electric serviceterritory in Texas.