River

Central New York Oil and Gas Co.’s (CNYOG) proposed MARC-I Hub Line Project, which would deliver additional Marcellus Shale and Trenton Black River natural gas to Northeast markets, may not be needed, according to the Environmental Protection Agency (EPA).

Western Gas Partners LP is buying the Bison gas treating facility and related assets in the Powder River Basin from Anadarko Petroleum Corp. for $130 million. “The cash flow profile of the Bison assets, which is 100% fee-based and entirely supported by demand charges, is a great addition to WES’ portfolio,” said Western Gas Partners CEO Don Sinclair. The Bison assets are in northeastern Wyoming and have a combined carbon dioxide treating capacity of 450 MMcf/d. Western Gas expects to finance the acquisition with $25 million of cash and the issuance of 2,950,284 common units to Anadarko and 60,210 general partner units to Western Gas Holdings LLC, the partnership’s general partner, at about $34.88/unit. The deal is expected to close early this month with an effective date of July 1, 2011.

New York legislators have sent Gov. Andrew Cuomo a bill intended to improve the state’s water management, using a permitting program to prevent “overconsumption” by large-scale users, which may include the energy industry.

More than three weeks after the U.S. Army Corps of Engineers (USACE) began diverting the Mississippi River into the Atchafalaya Basin in Louisiana, the number of shut-in oil and gas wells — as well as the floodwaters — are beginning to recede.

More than three weeks after the U.S. Army Corps of Engineers (USACE) began diverting the Mississippi River into the Atchafalaya Basin in Louisiana, the number of shut-in oil and gas wells — as well as the floodwaters — are beginning to recede.

June natural gas futures retreated in active trading Tuesday, as traders noted a lessening of risk from Mississippi River flooding, but a bevy of weak economic reports proved difficult to ignore. At the close June had fallen 13.6 cents to $4.182 and July was down 13.3 cents to $4.246. June crude oil shed 46 cents to $96.91/bbl.

The first liquefied natural gas (LNG) vehicle fueling station east of the Mississippi River began operation Thursday in Bridgeport, CT, setting several firsts for supplier Distrigas of Massachusetts LLC. Waste hauler Enviro Express Natural Gas LLC owns and operates the station, offering both LNG and compressed natural gas (CNG).

Pacific Gas and Electric ended a two-day Stage 2 high-inventory OFO Sunday.

The latest monthly lease sale held by Louisiana’s Mineral and Energy Board last Wednesday garnered more than $500,000 in bonuses, which brought the total collected for fiscal 2010-2011 to more than $24.3 million.