Kinder Morgan Energy Partners LP (KMP) is buying Petrohawk Energy Corp.’s half of the companies’ Haynesville Shale midstream joint venture, KinderHawk Field Services, and also acquiring a 25% interest in Petrohawk’s gas gathering and treating business in the Eagle Ford Shale, the companies said.
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Edison CEO: California 33% RPS Tied to Gas, Transmission
Raising concerns of infrastructure and costs regarding the state’s 33% renewable portfolio standard (RPS) goal for 2020, Edison International CEO Ted Craver said Monday his company’s utility is focusing on building new transmission and resolving the current uncertainty surrounding the state’s fleet of 20 coastal natural gas-fired generation plants. Craver made the comments in a first quarter earnings conference call with financial analysts.
Renewables Still in Play, Say Supporters
Although it missed its long-sought 20% renewable portfolio standard (RPS) goal last year, the California Public Utilities Commission (CPUC) said last week it is on track to hit it this year if projections by the investor-owned utilities (IOU) turn out to be correct and by 2013 if other forecasts turn out to be more accurate.
California Renewable Goals on Track; IOUs Avoid Penalties
Although it missed its long-sought 20% renewable portfolio standard (RPS) goal last year, California is on track to hit it this year if projections by the investor-owned utilities (IOU) turn out to be correct and by 2013 if other forecasts turn out to be more accurate. This was the essence of a quarterly report released last Monday by the California Public Utilities Commission (CPUC).
Chesapeake to Shed Fayetteville, Other Assets
Chesapeake Energy Corp. said Monday it plans to sell all of its Fayetteville Shale assets, as well as its equity investments in Frac Tech Holdings LLC and privately held Chaparral Energy Inc. Pre-tax proceeds could exceed $5 billion, the Oklahoma City-based company said.
Noble’s Outlook Cut on GOM Uncertainty
Standard & Poor’s Ratings Services (S&P) lowered its outlook on Noble Corp. to “negative” from “stable” and affirmed its “A-” long-term corporate credit rating on the drilling company. The ratings agency expressed concern for weakening credit metrics due to delays in permitting wells in the U.S. Gulf of Mexico (GOM).
EPA Hydrofracking Inquiry Receives Near-Unanimous Cooperation
Eight out of nine major national and regional hydraulic fracturing (hydrofracking) service providers have agreed to submit “timely and complete information” to help the Environmental Protection Agency (EPA) conduct its study on hydrofracking and its impact on drinking water quality, the EPA said Tuesday. Halliburton, after failing to comply with the agency’s voluntary requests for information, has been subpoenaed.
Shale, Electric Vehicles Figure in Energy Independence
While some see doom as the outcome if the United States fails to institute a national policy on carbon dioxide emissions or a renewable portfolio standard for power generation, a cadre of researchers predicts quite the opposite, and it’s mostly thanks to the country’s recently found abundance of natural gas, the role of gas in power generation, and electric vehicles.
Academics Say Gas Is Key to Energy Independence
While some see doom as the outcome if the United States fails to institute a national policy on carbon dioxide emissions or a renewable portfolio standard for power generation, a cadre of researchers predicts quite the opposite, and it’s mostly thanks to the country’s recently found abundance of natural gas, the role of gas in power generation, and electric vehicles.
Shale Gas to Hinder Nuclear Buildout, Says S&P
Low natural gas prices could stifle the long-awaited nuclear renaissance, according to analysts at Standard & Poor’s Ratings Service (S&P). Without federal loan guarantees, merchant nuclear new builds will be abandoned, they said in a recent report.