Series

Building on a series of midstream asset purchases, Enbridge Inc. has agreed to buy gas gathering and processing facilities in northeastern Texas from Sulphur River Gathering LP for US$178 million. The Sulphur River facilities, which currently gather 210 MMcf/d, are contiguous with assets in East Texas recently acquired by Enbridge Energy Partners from Koch Midstream Services for $230.5 million (see Daily GPI, Oct. 26, 2001). The Sulphur River acquisition increases the portfolio of assets available to Enbridge for potential sale to the limited partnership in 2002.

The board of directors of the New York Mercantile Exchange (Nymex) has approved a series of measures to offer credit intermediation through clearing services and trading tools for the over-the-counter (OTC) natural gas market. The plan will include the introduction of exchange of futures for swap (EFS) transactions and large-order execution to the natural gas futures market within the next few weeks, along with the previously announced electronic trading of cleared natural gas swaps and basis contracts.

Gasco Energy Inc. and Burlington Resources plan to explore and potentially develop a series of deep natural gas plays in Wyoming’s Greater Green River Basin under an agreement announced Thursday. The companies plan to jointly explore and develop seven areas of mutual interest (AMI) under an umbrella exploration agreement covering 332,000 acres in west-central Wyoming. Financial details were not disclosed. Houston-based Burlington will be operator of each and AMI will hold a 50% working interest. Gasco, headquartered in Denver, will own a 25% working interest and a private company will own the remaining 25%. Under the agreement, Burlington will acquire about 180 miles of high resolution 2-D seismic data with an obligation to drill two wells at its cost. The partners then would share subsequent costs on additional wells that are drilled. The agreement also would give Burlington the right to make drilling decisions on the AMIs between now and August 2003.

Gasco Energy Inc. and Burlington Resources plan to explore and potentially develop a series of deep natural gas plays in Wyoming’s Greater Green River Basin under an agreement announced Thursday. The companies plan to jointly explore and develop seven areas of mutual interest (AMI) under an umbrella exploration agreement covering 332,000 acres in west-central Wyoming. Financial details were not disclosed.

A key factor in major energy companies’ natural gas production growth in the United States during the 1990s were a series of tax credits, which helped move forward coalbed methane (CBM) development among other things, according to a report released Friday by the Energy Information Administration (EIA). The report, “The Majors’ Shift to Natural Gas,” noted that almost half of the major producers reporting to EIA’s financial reporting system (FRS) received tax credits for non-conventional fuel production under Section 29 of the Windfall Profit Tax Act, with most of the credits for CBM.

A key factor in major energy companies’ natural gas production growth in the United States during the 1990s were a series of tax credits, which helped move forward coalbed methane (CBM) development among other things, according to a report released Friday by the Energy Information Administration (EIA). The report, “The Majors’ Shift to Natural Gas,” noted that almost half of the major producers reporting to EIA’s financial reporting system (FRS) received tax credits for non-conventional fuel production under Section 29 of the Windfall Profit Tax Act, with most of the credits for CBM.

While the series of deadly terrorist attacks on the United States last Tuesday will “change the entire agenda of Congress and the federal government” during the fall session, a key legislative analyst doubts that energy legislation will be placed on the back burner as a result.

While the series of terrorist attacks on the United States Tuesday will “change the entire agenda of Congress and the federal government” during the fall session, a key legislative analyst doubts that energy legislation will be placed on the back burner as a result.

Responding to a series of pleadings from Sen. Hillary Rodham Clinton (D-NY), FERC last week agreed to hold a “public comment meeting” to address the concerns of the residents of Westchester County, NY, about the routing of the beleaguered Millennium Pipeline project through their community.