Columbia Natural Resources Canada (CNRC) has joined with twosmall Canadian producers targeting onshore Maritimes production tofeed the nearly completed Maritimes & Northeast Pipeline.
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Columbia E&P Targets Canadian Maritimes
Columbia Natural Resources Canada (CNRC) has joined with twosmall Canadian producers to prove that all the natural gas actionin eastern Canada is not offshore.
Columbia, NiSource Legal Battle Heats Up
Columbia Energy Group won a small victory last week when the U.S. District Court for the District of Delaware denied NiSource’s motion for expedited discovery in its federal case against Columbia. Meanwhile, NiSource raised legal pressure with yet another suit filed in the state Chancery Court in Delaware. By increasing the legal pressure while pushing its $68/share tender offer to Columbia shareholders, NiSource believes it can force Columbia officials to the negotiating table.
Bears Win Small Victory, Hold Bulls at $2.58
Following two days of nearly unchecked buying last week, bullswere quick out of the chute again yesterday as they bid the Augustcontract higher in early trading. However, the same profit takingwhich capped gains Friday thwarted the buying again yesterday whenprices could not break above the $2.58 level. The August contractspent the rest of the session chopping sideways before eventuallyfinishing up 1.4 cents to $2.542.
Coastal Grows Gulf Presence
Coastal Field Services Co. made a small increase in itsinterests in Gulf of Mexico Mobile Bayarea and gained the companyoption to increase its share significantly more.
Pennsylvania Unbundling Bill Passes Senate
Pennsylvania’s Senate convincingly voiced its support for SB601, a gas deregulation bill for residential and small commercial customers, with a 47-3 vote of approval early last week. The bill is now in the hands of Pennsylvania’s House of Representatives Consumer Affairs committee. If the bill is signed into law, each of Pennsylvania’s LDCs would be required to submit a restructuring plan by Nov. 1.
PA Legislature to Decide PGW’s Fate
While Pennsylvania’s gas deregulation bill for residential andsmall commercial customers has grabbed most of the focus on thestate’s gas industry, the fate of Philadelphia’s embattledmunicipal gas utility, Philadelphia Gas Works (PGW), also will bedecided during the current legislative session. A movement hasarisen in both the state Senate and the House of Representatives toattach an amendment onto the deregulation bill, which would shiftPGW control from the city government-selected Gas Commission to thePennsylvania Public Utilities Commission (PUC).
PA Legislature to Decide PGW’s Fate
While Pennsylvania’s gas deregulation bill for residential andsmall commercial customers has grabbed most of the focus from thestate’s gas industry, the fate of Philadelphia’s embattledmunicipal gas utility, Philadelphia Gas Works (PGW), will also bedecided during the current legislative session. A movement hasarisen in both the state Senate and the House of Representatives toattach an amendment onto the deregulation bill which will shift PGWcontrol from the city government-selected Gas Commission to thePennsylvania Public Utilities Commission (PUC).
Pennsylvania Unbundling Bill Passes Senate
Pennsylvania’s state Senate convincingly voiced its support forSB601, a gas deregulation bill for residential and small commercialcustomers, with a 47-3 vote of approval late Monday night. The billis now in the hands of Pennsylvania’s House of RepresentativesConsumer Affairs committee. If the bill is signed into law, each ofthe Pennsylvania natural gas utilities would be required to submita restructuring plan to the PUC by Nov. 1.
Futures Eke Out Small Gain in Quiet Session
Follow-through on last week’s gains and record-settingtemperatures put bulls squarely in control Monday in the Nymex gaspit. Locals and commercials were good buyers in the first hour oftrading yesterday as they buoyed the market to its highest level insix months. However, after the initial surge the market could notattract fresh buying and was left to chop sideways amid arelatively light 59,236 in estimated volume. The July contractfinished at $2.442, up 0.5 cents for the day.