Two medium-size natural gas companies in the Southwest drew negative attention from the rating agencies last week, with Moody’s Investor Services reviewing Salt Lake City-based Questar Corp. for a possible downgrade and Standard & Poor’s assigning a negative outlook to Las Vegas, NV-based Southwest Gas Corp., noting its “strong, diverse and growing gas market” is offset by what S&P called “a highly political regulatory environment.”
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North Baja Pipe Gets Final Environmental Nod from FERC
The proposed North Baja Pipeline to deliver natural gas to the southwestern United States and northern Mexico has received the final environmental go-ahead from the staffs of FERC, the California State Lands Commission and the Interior Department’s Bureau of Land Management.
North Baja Pipe Gets Final Environmental Nod from FERC
The proposed North Baja Pipeline to deliver natural gas to the southwestern United States and northern Mexico has received the final environmental go-ahead from the staffs of FERC, the California State Lands Commission and the Interior Department’s Bureau of Land Management.
NUI Completes VA Storage Acquisition, Increases Saltville Capacity 20%
NUI Corp. said Thursday that subsidiary Virginia Gas co. has completed its acquisition of a natural gas storage field in southwestern Virginia and now owns 100% of the Early Grove storage field. NUI said the field will give Virginia Gas more control to move natural gas supplies, manage storage contracts and develop the storage facility in Saltville, VA.
North Baja Pipeline Gets Preliminary Environmental Nod
The proposed North Baja Pipeline for gas delivery to the southwestern United States and northern Mexico has gotten a preliminary environmental go-ahead from FERC staff, the Interior Department’s Bureau of Land Management (BLM) and the California State Lands Commission (CSLC).
North Baja Pipeline Gets Preliminary Environmental Nod
The proposed North Baja Pipeline for gas delivery to the southwestern United States and northern Mexico has gotten a preliminary environmental go-ahead from FERC staff, the Interior Department’s Bureau of Land Management (BLM) and the California State Lands Commission (CSLC).
Denbury Picks up TX, MS Acreage
Denbury Resources Inc. has picked up almost all of the working interests in the West Mallalieu and Olive Fields located in southwestern Mississippi and another 14,000 acres in the Barnett Shale gas play in Texas, acquisitions expected to bring the Dallas-based company opportunities for oil and natural gas reserves and production growth.
Transportation Notes
Tennessee confirmed a reported leak on its 26-inch 507K-100 Linein the West Cameron 177 area offshore southwestern Louisiana. Theimpact on area gas has not been determined yet, Tennessee said, butproduction from West Cameron 192 to onshore Grand Chenier could beaffected. A pipeline spokesman said Monday afternoon he understoodthat repairs might have been completed already, but he was unableto reach field personnel for confirmation.
Industry Briefs
Talisman Energy Inc. and Purcell Energy Ltd. of Calgary formedan exploration joint venture for the greater Fort Liard region inthe southwestern Northwest Territories and southeastern YukonTerritory. The participation right in the joint venture will be 60%for Talisman and 40% for Purcell. “This is Talisman’s firstsignificant move into the Northwest Territories, and we are happyto have Purcell as a partner,” said Talisman CEO Jim Buckee. “Themajority of remaining hydrocarbon potential in Canada lies in themedium and deeper gas plays in Alberta, BC, and the Territories,and Talisman is well positioned as one of the leading deep gasplayers in North America.” “This joint venture strategicallypositions Purcell to leverage its Fort Liard success on SDL 99,”said Purcell CEO Jan Alston. “Talisman’s experience as a successfulfoothills gas explorer combined with Purcell’s long-standinginvolvement at Fort Liard will enable the joint venture partners tocapitalize on opportunities as the area continues to open up.”Preliminary work will commence immediately and be focused on deepgas prospects.
Industry Briefs
The National Energy Board received an application from AECSuffield Gas Pipeline Inc. (AEC Suffield) to construct and operatea gas pipeline from southeastern Alberta to southwesternSaskatchewan to be known as the North Suffield Pipeline. The60-mile pipeline extension will wrap around the northern part ofthe Suffield Military Block before it ties in to the existing AECSuffield meter station, which connects to TransCanada PipelinesLimited’s system near Burstall, SK. It would have a design capacityof 190 MMcf/d of gas and would cost C$22.3 million. AEC Suffield isplanning an in-service date of Nov. 1. AEC’s existing 72-mileSuffield pipeline was built in 1998 after a landmark decision bythe NEB. The ruling authorized a bypass around Nova Corp.’s40-year-old franchise in the chief gas-producing province ofAlberta and introduced market-based, negotiated tolling.