Slashed

Citing a rare state unit’s budget surplus, the New Mexico Public Regulation Commission (PRC) last Thursday slashed by 80% the fees charged by its pipeline safety bureau. The PRC unit conducts pipeline and facility safety inspections and helps enforce state and federal regulations for oil and natural gas pipelines.

BP plc’s market value was slashed further last Friday as shares plunged to new lows since its well blowout April 20 in the Gulf of Mexico (GOM). The company’s market cap has been beaten down about $100 billion since the disaster. Liquidity concerns and the threat that a major storm could enter the GOM and disrupt oil collection are making investors nervous.

BP plc’s market value was slashed further Friday as shares plunged to new lows since its well blowout April 20 in the Gulf of Mexico (GOM). The company’s market cap has been beaten down about $100 billion since the disaster. Liquidity concerns and the threat that a major storm could enter the GOM and disrupt oil collection are making investors nervous.

The latest economic stimulus package in British Columbia (BC) has taken the form of slashed royalties on new natural gas wells. BC cut royalties to a token, a flat 2% for one year on wells drilled between this September and June of 2010. The move is seen as a way to compete with rival Alberta, which has its own stimulus package for drillers.

The latest economic stimulus package in British Columbia (BC) has taken the form of slashed royalties on new natural gas wells, according to an announcement Thursday by the provincial government. The move is seen as a way to compete with rival Alberta, which has its own stimulus package for drillers.

Regency Energy Partners LP, which serves as a platform for GE Energy Financial Services’ growth in the midstream sector, has slashed its 2009 and 2010 growth plans and sharply reduced its planned pipeline infrastructure project for the emerging Haynesville Shale.

Regency Energy Partners LP, which serves as a platform for GE Energy Financial Services’ growth in the midstream sector, on Monday slashed its 2009 and 2010 growth plans and sharply reduced its planned pipeline infrastructure project for the emerging Haynesville Shale.

With natural gas production growth up 8% year/year (y/y) and gas prices down by half in just two months, Raymond James & Associates Inc. Monday slashed its U.S. gas price forecast for 4Q2008 to $7.50/Mcf from $10, which is 40 cents lower than the futures price and nearly $4 below Wall Street’s consensus.

With natural gas production growth up 8% year/year (y/y) and gas prices down by half in just two months, Raymond James & Associates Inc. Monday slashed its U.S. gas price forecast for 4Q2008 to $7.50/Mcf from $10, which is 40 cents lower than the futures price and nearly $4 below Wall Street’s consensus.