Senior

Terrence L. Ruder, a senior vice president of Oklahoma City-based Devon Energy Corp., has been named chairman of the Natural Gas Supply Association (NGSA) for a two-year term. At Devon, Ruder oversees the Marketing & Midstream Division. He has served as NGSA’s vice chairman, and is a member of the Natural Gas Council, the Gas Processors Association and the Texas Pipeline Association. Steve Kirchhoff of ExxonMobil has been tapped as NGSA’s vice chairman, and Clay Bretches of Anadarko Petroleum is the new secretary/treasurer. R. Skip Horvath will continue as president and CEO of the association.

San Francisco-based Pacific Gas and Electric Co. (PG&E) senior management said Thursday the utility expects about a 2% workforce reduction from ongoing efficiency programs, and externally the utility is considering sponsoring a statewide ballot initiative next June to make municipalization efforts much harder to complete.

San Francisco-based Pacific Gas and Electric Co. (PG&E) senior management said last Thursday the utility expects about a 2% workforce reduction from ongoing efficiency programs. Externally the utility is considering whether to sponsor a California ballot initiative next June to make municipalization efforts more difficult to complete.

The story, “No Plans to Slow North American Gas Development, Says ExxonMobil Exec,” (see Daily GPI, Sept. 10), misquoted Senior Vice President Mark W. Albers, who was a keynote speaker at the Barclays Capital 2009 CEO Energy/Power Conference in New York City. Albers did not say “North American unconventional gas production will remain steady.” Rather, Albers said, “North American natural gas production will remain steady, with conventional production decline offset by increases in tight gas and shale gas.” NGI regrets the error.

Everything is relative as evidenced by Sempra Energy senior management feeling good about a $740 million settlement of more than $1.36 billion in lawsuits and writing down another $64 million against second quarter earnings to account for part of an underground natural gas storage project that proved uneconomic.

Everything is relative as evidenced by Sempra Energy senior management feeling good about a $740 million settlement of more than $1.36 billion in lawsuits and writing down another $64 million against second quarter earnings to account for part of an underground natural gas storage project that proved uneconomic. All in all, the San Diego-based energy holding company last Friday posted solid, if reduced, results quarter-over-quarter (see Daily GPI, Aug. 3).

Commodity price exposure dinged the rating on DCP Midstream LLC (DCPM) debt as Fitch Ratings downgraded the company’s senior unsecured debt and Issuer Default Rating (IDR) to “BBB” from “BBB+.” However, the ratings outlook was revised to “stable” from “negative.”

Commodity price exposure dinged the rating on DCP Midstream LLC (DCPM) debt as Fitch Ratings downgraded the company’s senior unsecured debt and Issuer Default Rating (IDR) to “BBB” from “BBB+.” However, the ratings outlook was revised to “stable” from “negative.”

In a vote that mattered mostly for what it said, a majority of Royal Dutch Shell plc shareholders Tuesday rejected the pay packages of senior executives. The packages allowed bonuses to be awarded even though the company failed to meet some of its performance targets.