Said

Florida Gas Transmission did not extend an Overage Alert Day beyond Monday.

A subsidiary of Plains All American Pipeline LP (PAA) will pay $220 million for Vulcan Capital’s 50% interest in PAA Natural Gas Storage, the companies said. The purchase price includes $90 million cash, 1.9 million PAA common units valued at $90 million and deferred contingent cash consideration up to $40 million. The transaction is expected to close Thursday. The transaction will give PAA 100% of the natural gas storage business and related operating entities, which will be accounted for on a consolidated basis. At closing PAA will repay the joint venture’s outstanding project finance debt using joint venture cash and borrowings under its revolving credit facility. As of June 30 the joint venture had approximately $450 million of debt and approximately $52 million of cash. PAA management intends to recommend to its board of directors an increase in the partnership’s quarterly distribution level to 92 cents/unit effective with the November distribution.

The Senate Energy and Natural Resources Committee said it will hold a confirmation hearing Thursday (Aug. 6) for former Iowa regulator John R. Norris to sit on the Federal Energy Regulatory Commission. In mid-June President Obama nominated Norris, former chairman of the Iowa Utilities Board and current chief of staff for Agriculture Secretary Tom Vilsack, to finish out the remainder of the term vacated by former FERC Chairman Joseph Kelliher (see Daily GPI, June 12). His term term will expire on June 30, 2012. The committee is expected to hold a confirmation for FERC Commissioner Suedeen Kelly when Congress returns from its month-long recess after Labor Day. Obama in March tapped Kelly for another term on the Commission to expire on June 30, 2014 (see Daily GPI, March 23). Both Norris and Kelly are Democrats.

Florida Gas Transmission ended an Overage Alert Day Saturday after it had been in effect for three days.

Dena E. Wiggins has joined Ballard Spahr as a partner in the Business & Finance Department and Energy and Project Finance Group in Washington, DC, according to the firm. Ballard Spahr said Wiggins’ experience representing energy clients, coupled with her extensive work on natural gas projects, enhances the range of legal services the firm offers the energy industry. Wiggins, who most recently was with Sutherland, will concentrate on natural gas regulatory issues. She has more than 20 years’ experience handling energy policy issues, incentives for natural gas production and regulatory matters involving natural gas, crude oil, petroleum products, and hydropower. She represented a major producer in successful legislative efforts to oppose reform of Outer Continental Shelf leases and represents a client on the Natural Gas Council, a coalition of major gas and electric trade associations. She speaks regularly on natural gas policy, has testified before the Federal Energy Regulatory Commission, and served on the Secretary of Energy Advisory Board under then-Secretary of Energy Spencer Abraham.

The seventh earthquake since May has rattled communities in the heart of the Barnett Shale region of North Texas, officials said Friday.

The Commodity Futures Trading Commission said Walt Lukken will leave the agency effective July 10 after serving nearly seven years as commissioner and as chairman since January. He plans to join NYSE Euronext as senior vice president of global market structure in its office of general counsel.

TransCanada Corp. Thursday filed at FERC seeking pre-filing status for its proposed Alaska Pipeline Project.

Apache Corp. said the Ewing Banks 998 No.1 discovery well in the deepwater Gulf of Mexico test flowed at 5.4 MMcf/d of natural gas and 4,254 b/d of oil. The well is to be connected to existing facilities using a subsea tieback with first production expected in early 2010. Apache owns a half stake in the discovery, which is located about 150 miles southwest of New Orleans in water about 1,000 feet deep. Walter Oil & Gas Corp. is the operator of the well and owns the remaining 50% stake. The well was drilled to a measured depth of 14,538 feet and tested on an interval between 14,352 feet and 14,400 feet. Apache has completed eight wells at Ewing Banks 826 and increased production to a current rate of 12.9 MMcf/d and 5,300 b/d from a 2007 rate of 700 boe/d. Apache owns a 100% working interest in the Ewing Banks block.