Salt

FERC on Monday extended the deadline for Copiah County Storage, a subsidiary of Duke Energy’s Market Hub Partners, to develop a 3 Bcf salt dome natural gas storage facility in Copiah County, MS.

An early-morning explosion that jolted Duke Energy’s Moss Bluff underground salt cavern storage facility last Thursday in Liberty County, TX, took a turn for the worse in the pre-dawn hours Friday when an above-ground valve structure failed, causing a larger release of natural gas that shot flames 1,000 feet into the sky.

After burning intensely for nearly a week, the blaze at Duke Energy’s Moss Bluff underground salt cavern storage facility in rural Liberty County, TX, was extinguished around 9 p.m. (CDT) Wednesday, a company spokeswoman said.

An early-morning explosion rocked Duke Energy’s Moss Bluff underground salt cavern storage facility on Thursday in Liberty County, TX, just northeast of Houston, sending flames high into the sky and forcing the company to cut off all natural gas service at the facility. No injuries or damage to the area surrounding the storage site were reported, the company said.

The blaze at Duke Energy’s Moss Bluff underground salt cavern storage facility in Liberty County, TX, was continuing into its sixth day Tuesday, but the size and intensity of the fire has decreased significantly, according to company officials.

Financial analysts on Wednesday pressed Duke Energy CEO Paul M. Anderson about when Moss Bluff’s two undamaged salt cavern storage facilities in Liberty County, TX, would re-open, but he declined to provide a timeline.

Salt Lake City-based Questar Corp. reported a 12% drop in net income for the fourth quarter to $60 million, or 71 cents/share, but a 12% jump in net income for the year (2003) to 173.6 million, or $2.06/share. Excluding charges, write-downs and asset sales, Questar earned $2.31/share in 2003, a 33% increase from 2002. “A 40% increase in realized gas prices and growth of Rockies nonregulated production drove a rebound in earnings in our E&P business, offsetting disappointing earnings for our regulated companies,” said CEO Keith O. Rattie. Questar Market Resources (QMR), the company’s exploration, production, gathering, processing and marketing arm, earned $116 million in 2003 compared to $97.9 million in 2002. The division’s total production was 92.8 Bcfe compared to 96.3 Bcfe for 2002. Questar Pipeline, an interstate gas transmission and storage subsidiary, reported 2003 net income of $30.2 million compared to $32.6 million in 2002. Total transportation volumes rose 7% to 388 MMDth in 2003. In addition, the 488-mile eastern section of the company’s Southern Trails Pipeline was in service for its first full year in 2003, with daily average throughput of 80,000 Dth.

Refusing to go down without a fight, Salt Lake City-based Questar Corp. said it will pursue available legal and regulatory alternatives in response to a Utah Supreme Court decision on Aug. 1, which rejected the recovery of certain natural gas-processing costs incurred by its retail natural gas distribution subsidiary Questar Gas Co.

Refusing to go down without a fight, Salt Lake City-based Questar Corp. said Sunday that it would pursue available legal and regulatory alternatives in response to a Utah Supreme Court decision on Aug. 1, which rejected the recovery of certain natural gas-processing costs incurred by its retail natural gas distribution subsidiary Questar Gas Co.