Schedule

Columbia Gas of Virginia’s proposed revision of its Rate Schedule TS-1 and TS-2 would negatively affect the way gas is transported, while harming competition within the state, according to concerned customers in a hearing earlier in the month. The hearing on Sept. 3 in front of the Virginia State Corporation Commission (VSCC) found “unanimous opposition” from 15 Columbia customers, according to Compass Energy Services Inc., a marketer affected by Columbia’s action.

Columbia Gas of Virginia’s proposed revision of its Rate Schedule TS-1 and TS-2 would negatively affect the way gas is transported, while harming competition within the state, according to concerned customers in a hearing last week. The hearing held Sept. 3 before the Virginia State Corporation Commission (VSCC) found “unanimous opposition” from 15 Columbia customers, according to Compass Energy Services Inc., a marketer affected by Columbia’s action.

With a third quarter merger completion still on schedule, Phillips Petroleum and Conoco Inc. released lower second quarter earnings Tuesday, citing “significantly depressed” natural gas prices compared to 2001, and the negative impact of a weakening U.S. dollar. Conoco reported profit fell 76% from a year ago, with net income of $130 million or 20 cents a share, down from $552 million, or 87 cents a year ago. Phillips said its net income fell 43% to $351 million, or 91 cents a share, compared with $619 million, or $2.40 a share, from last year’s second quarter.

With a third quarter merger completion still on schedule, Phillips Petroleum and Conoco Inc. released lower second quarter earnings Tuesday, citing “significantly depressed” natural gas prices compared to 2001, and the negative impact of a weakening U.S. dollar. Conoco reported profit fell 76% from a year ago, with net income of $130 million or 20 cents a share, down from $552 million, or 87 cents a year ago. Phillips said its net income fell 43% to $351 million, or 91 cents a share, compared with $619 million, or $2.40 a share, from last year’s second quarter.

With a third quarter merger completion still on schedule, Phillips Petroleum and Conoco Inc. released lower second quarter earnings Tuesday, citing “significantly depressed” natural gas prices compared to 2001, and the negative impact of a weakening U.S. dollar. Conoco reported profit fell 76% from a year ago, with net income of $130 million or 20 cents a share, down from $552 million, or 87 cents a year ago. Phillips said its net income fell 43% to $351 million, or 91 cents a share, compared with $619 million, or $2.40 a share, from last year’s second quarter.

Sticking to its outlined schedule, Florida Gas Transmission Co. (FGT) has placed in service the second stage of its four-stage Phase V Expansion project. The second stage of Phase V added approximately 64 miles of underground natural gas pipeline, increased compression by approximately 103,000 hp at new or existing compressor stations, and provided 298 MMcf/d of additional transportation capacity.

Guardian Pipeline has hired H.C. Price Co. to build its 142-mile, 750 MMcf/d pipeline system in Illinois and Wisconsin. H.C. Price, of Dallas, was selected in a competitive bidding process and will construct the pipeline in one spread, in which work will be done by a single construction crew over the entire length of the project. Murphy Bros. Inc., of Moline, IL, was selected to build Guardian’s 22,225-hp compressor station near Joliet.

Coming to completion right on schedule, Houston-based Texas Eastern Products Pipeline Co. LLC, general partner of TEPPCO Partners LP, reported that it has finalized its acquisition of the Jonah Gas Gathering Co. from Green River Pipeline LLC and McMurry Oil Co., both wholly owned subsidiaries of Alberta Energy Co. Ltd. (AEC). TEPPCO said the estimated $360 million deal marks its entry into the natural gas gathering business.

Coming to completion right on schedule, Houston-based Texas Eastern Products Pipeline Co. LLC, general partner of TEPPCO Partners LP, reported that it has finalized its acquisition of the Jonah Gas Gathering Co. from Green River Pipeline LLC and McMurry Oil Co., both wholly owned subsidiaries of Alberta Energy Co. Ltd. (AEC). TEPPCO said the estimated $360 million deal marks its entry into the natural gas gathering business.