As the myriad of regulatory issues continues to be resolved, a Standard & Poor’s (S&P) natural gas analyst predicted last week that there will be increasingly positive interest from creditors and investors toward energy merchants. Meanwhile, Fitch Ratings Thursday upgraded Dynegy Inc.’s outlook to “stable,” and S&P Friday removed The Williams Cos. Inc. from its CreditWatch list.
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S&P Sees Improved Outlook for Energy Merchants
As the myriad of regulatory issues continues to be resolved, a Standard & Poor’s (S&P) natural gas analyst predicted Wednesday increasingly positive interest from creditors and investors toward energy merchants.
Transportation Notes
NGPL said gas quality problems that arose at two receipt points over the weekend have been resolved. It was scheduling at normal levels Monday for the Enogex-Latimer and EPGT-Panola points in Latimer County, OK and Panola County, TX respectively.
O’Reilly Touts Benefits of Chevron, Texaco Union
Chevron Corp’s proposed agreement to acquire Texaco Inc. for$35.7 billion in stock would, if given the go-ahead by federalregulators, put the merged company into the “Super Major” League ofproducers worldwide and domestically. It would create the thirdlargest natural gas and oil producer in the United States.
El Paso’s Proposed Service to Pinnacle West Knocked
A proposal by El Paso Natural Gas to build a new delivery point and associated lateral facilities to provide “full requirements” service of 410 MMcf/d to a new generation plant destined for the Arizona market has been met by a barrage of criticism from existing producer- and utility-shippers on the pipeline.
Transportation Notes
A gas quality problem that prompted NGPL to halt schedulingSaturday at its Transok-Bryan interconnect in Bryan County, OK hasbeen resolved. NGPL resumed scheduling receipts there Monday.
Jurisdictional Dispute on TriState Resolved
The U.S. portion of TriState Pipeline got some much-needed goodnews last week when FERC issued a preliminary determination on thenon-environmental aspects of the project after resolving a stickyjurisdictional issue. But whether it will be enough to kick-startthe troubled project, which is lagging far behind the competingVector Pipeline, seemed doubtful.
PNGTS Work Site Dispute Settled
A U.S. federal court resolved a dispute between Portland NaturalGas Transmission System (PNGTS) and Central Maine Power (CMP) overthe use of a CMP right-of-way for the installation of PNGTS. PNGTSwas granted a motion for preliminary injunction filed against CMPin March. The court’s action gives PNGTS immediate possession ofthe property rights on CMP-owned electric transmission corridorsnecessary to install pipeline facilities approved by the FederalEnergy Regulatory Commission (FERC).