Resources

The Senate Energy and Natural Resources Committee has approvedthe nomination of Bill Richardson, currently U.S. ambassador to theUnited Nations, to become the next secretary to the Department ofEnergy (DOE).

Republican members of the Senate Energy and Natural ResourcesCommittee Wednesday warned Energy Secretary nominee Bill Richardsonhis nomination could face an indefinite delay when it reaches theSenate floor unless the Clinton administration makes concessions onthe controversial issue of nuclear-waste storage. Democrat members,on the other hand, vowed to fight against any efforts to block thenomination.

The Senate Committee on Energy and Natural Resources hasscheduled a hearing for July 22 to take up the nomination of BillRichardson, current U.S. ambassador to the United Nations, to behead of the Department of Energy.

Mid Louisiana Gas Transmission, a subsidiary of Midcoast EnergyResources, announced last week that it purchased all of the stockin the Creole Gas Pipeline in southern Louisiana from El PasoEnergy for an undisclosed amount.

Evergreen Resources Inc. last week reached an agreement toacquire Amoco Production’s oil and gas interests in the Raton Basinof Colorado, resolving current litigation matters between the twoproducers.

In an unusual move Thursday, the Senate Energy and NaturalResources Committee forwarded the nomination of FERC CommissionerWilliam L. Massey to the full Senate for approval immediatelyfollowing his confirmation hearing.

The Senate Energy and Natural Resources Committee will considerthe confirmation of Commissioner William Massey to a second term atFERC at a hearing this Thursday. There, he is expected to get awarm reception.

Union Pacific Resources Group announced details of itsparticipation in four successful wells recently completed on itsLand Grant acreage. UPR’s net production from the wells is about 28MMcf/d of gas and 500 barrels of oil/d. The most prolific well, theChamplin 457 A No. 5, is located in the Whitney Canyon field inUinta County, WY. The company owns a 33% net revenue interest inthe well which began producing at an initial rate of 60 MMcf/d.

The House Subcommittee on Energy and Mineral Resources Thursdayapproved royalty-in-kind legislation (H.R. 3334) to require thefederal government to take the actual oil or natural gas product asits royalty payment instead of cash for production offshore and onfederal lands. The bill, opposed by the Interior Department’sMinerals Management Service (MMS), included an amendment whichwould allow the government to receive cash for production fromlow-volume producing wells in remote locations.