El Paso Corp.’s oil and natural gas production business will pull out of some riskier ventures and return its underperforming “base” U.S. assets to profitability, the unit’s president said last week. With a tighter focus, and assuming natural gas prices hold at or above $4.25/MMBtu, El Paso Production Co. President Lisa Stewart forecast the business will “turn the corner in 2004.”
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El Paso Production Chief Says Unit to ‘Turn the Corner’ in 2004
El Paso Corp.’s oil and natural gas production unit will pull out of some riskier ventures and return its underperforming “base” U.S. assets to profitability, the unit’s president said Tuesday. With a tighter focus, and assuming natural gas prices hold at or above $4.25/MMBtu, El Paso Production Co. President Lisa Stewart forecast the business will “turn the corner in 2004.”
June 30, 2004
NEB Cuts Down TransCanada’s Rate Hike to 2%
The onset of competition in Canadian natural gas transportation may have made the field riskier for TransCanada PipeLines, but not by enough to persuade the nation’s principal regulator, the National Energy Board (NEB), that the change justifies rich compensation. The NEB handed down a long-awaited verdict on effects of industry upheavals since the late 1990s, concluding that the pipeline deserves a 2% raise in rates rather than the 12% increase it had requested.
July 1, 2002
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