Settlement

Correction

In a story published May 3, “San Bruno Settlement Talks Break Down, PG&E CEO Says” (see Daily GPI, May 3), the fifth paragraph was incorrect. That paragraph should read: CFO Kent Harvey said PG&E would “continue to expect to need roughly $1-1.2 billion of equity for the year, excluding any fines or penalties beyond the $200 million we’ve already accrued. Of that, we issued about $430 million in 1Q2013.” NGI regrets the error.

May 6, 2013

Eastern Declines Trump Marginal Western Firmness; Futures Flat

The cash market was a “Tale of Two Cities” Tuesday as the bulk of locations meandered within a couple of pennies of Monday’s settlement, but the swooning Northeast suffered $1 plus declines as near-term weather was expected to moderate. Futures prices resorted to a mixed finish in light trading, and at the close April had risen 0.1 cent to $2.356 and May had dropped 1.0 cents to $2.462. April crude oil followed weak equity markets lower and tumbled $2.02 to $104.70/bbl.

March 7, 2012

Shale’s Role Grows Substantially in Anadarko Portfolio

The stature of Anadarko Petroleum Corp.’s shale operations in the United States grew substantially last year, the company said. Going forward, emphasis at home will continue to be on shales and liquids-rich production.

February 8, 2012

Industry Brief

The Pennsylvania Public Utility Commission (PUC) will be accepting public comments on a proposed settlement with UGI Central Penn Gas, part of UGI Utilities Inc., a subsidiary of UGI Corp. The 20-day period for public comment will begin after the PUC files its paperwork on the case. At issue is a $5,000 civil penalty levied by the PUC against UGI for an incident that occurred in Bedford Township. An investigation found that on Sept. 2, 2009, a four-inch high pressure distribution line was damaged and leaked natural gas during the excavation for new a municipal water and sewer main.

December 2, 2011

Final TransCanada Toll Settlement Postponed

A final settlement of the bills for vacant capacity this year on TransCanada Corp.’s natural gas mainline has been postponed until 2012.

July 4, 2011

Final TransCanada Toll Settlement Postponed

A final settlement of the bills for vacant capacity this year on TransCanada Corp.’s natural gas mainline has been postponed until 2012.

June 29, 2011

Haynesville, Other Shales Lift QEP 1Q Production

QEP Resources exploration and production unit QEP Energy continues to turn away from its traditional area of activity in the Rocky Mountain region and focus more on the Midcontinent and a handful of shale plays.

May 3, 2011

Duke Energy Reaches Rate Settlement in Kentucky

A rate case settlement agreement between Duke Energy Kentucky and the commonwealth’s attorney general would increase rates for natural gas delivery service by approximately $13 million, or 10.4% of total gas revenues, effective in early 2010. The original request was for $17.5 million, or a 14% increase, the company said Monday.

December 8, 2009

Industry Briefs

As a result of early settlement and reset arrangements for 37% of its 2009 commodity hedge volumes, XTO Energy Inc. said it has realized about $900 million of after-tax proceeds that it has used to reduce its outstanding debt. The company expects to end the first quarter with net debt of approximately $11 billion. The net effect of the early settlements is to accelerate cash receipts, while maintaining XTO’s full hedge position against further declines in oil and natural gas prices during the year. By executing the transactions, the company said it has accomplished the lion’s share of its previously announced $1.25 billion minimum debt reduction. In November XTO said it had 1,745 MMcf of gas hedged at $8.83/Mcf for 2009 and 730 MMcf of gas hedged at $8.67/Mcf for 2010 (see Daily GPI, Nov. 21, 2008). At the same time, the company’s board of directors approved a 2009 capital budget for development and exploration expenditures of $3.3 billion and an additional $500 million was budgeted for the construction of pipeline infrastructure and compression and processing facilities. Fort Worth, TX-based XTO’s properties are concentrated in Texas, New Mexico, Arkansas, Oklahoma, Kansas, Wyoming, Colorado, Alaska, Utah, Louisiana, Mississippi, Montana, North Dakota, Pennsylvania, New York, West Virginia and Kentucky.

January 15, 2009

Energy Transfer Ordered to Pay $10M to Settle CFTC Charges

Dallas-based Energy Transfer Partners LP and three subsidiaries last Monday were ordered to pay $10 million as part of a settlement reached with the Commodity Futures Trading Commission (CFTC) of charges that they attempted to manipulate natural gas prices at the Houston Ship Channel (HSC).

March 24, 2008
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