Settles

Shell Oil joined the ranks Thursday of major producers who havesettled sizeable royalty disputes with the Department of Justice.The company has agreed to pay the U.S. $56 million to settle claimsthat it underpaid royalties on natural gas produced on Federalleases.

Northern Border Pipeline filed a stipulation and agreement withthe FERC that settles its pending rate case. The settlement wasreached between the pipeline company, the majority of its customersand FERC staff.

Northern Border Pipeline filed a stipulation and agreement thatsettles its pending rate case with the Federal Energy RegulatoryCommission (FERC). The settlement was reached between the pipelinecompany, the majority of its customers and FERC staff.

Almost a year after Plains Resources and its subsidiary, PlainsAll American Pipeline L.P., were allegedly involved in”unauthorized trading,” the companies announced yesterday that theyhave reached an agreement in principle for the settlement of twoclass action securities suits. The companies have agreed to payaffected shareholders a total of $29.5 million plus interest forthe unauthorized trading loss disclosed in November 1999.

The cash market appears to have decided to take it easy at leasttemporarily. Tuesday’s activity remained relatively subdued, andfew points strayed much further than 2-3 cents to either side offlat.

Unable to end a stalemate over two key issues, Republican and Democrat leaders of the Senate Energy and Natural Resources Committee sent up a white flag last week, conceding defeat in their struggle to pass comprehensive electric restructuring legislation this year.

New York Board of Trade reached an agreement last week to “makewhole” all floor operators whose funds were used to meet marginobligations of Klein and Co. Futures Inc.

“Not with a bang, but a whimper” the $7.5 billion lawsuit filed by TransAmerican Natural Gas against merging giants Coastal Corp. and El Paso Natural Gas, slid to a quiet grave under a sealed settlement agreement last week.

“Not with a bang, but a whimper”…the $7.5 billion lawsuitfiled by TransAmerican Natural Gas against merging giants CoastalCorp. and El Paso Natural Gas, slid to a quiet grave under a sealedsettlement agreement.