As part of the company’s ongoing strategy to unload non-core assets and focus on key businesses, Williams said Wednesday that it has signed a definitive agreement with Knoxville, TN-based Pilot Travel Centers LLC. to sell its retail travel center operations for $190 million cash, including fuel inventory, merchandise and supplies.
Strategy
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Puget Energy Buys NY Pipeline Construction Firm
Pursuing a strategy to expand non-utility energy infrastructure businesses alongside its core utility operations in the Pacific Northwest, Bellevue, WA-based Puget Energy announced that it has bought Skibeck Pipeline Co., which it described as a “leading East Coast provider of natural gas transmission pipeline construction.” Skibeck will retain its name and 200 employees, operating regionally out of its headquarters in Randolph, NY, under Puget’s non-utility division, InfrastruX.
Senate GOP Maps Out Energy Bill Strategy
Senate Republicans pulled out all the stops last week to get the Democratic leadership to move on energy legislation before the end of the session, and even vowed to tack on an energy bill to other legislation such as the economic-stimulus measure pending in the upper chamber.
FERC’s Four-RTO Strategy Assailed
The Federal Energy Regulatory Commission may be over-reaching in trying to hone regional transmission organizations (RTO) down to “four plus one (ERCOT),” according to congressmen and witnesses before the House Energy and Air Quality subcommittee Wednesday.
BIDC Acquires Southern States Gas Gathering
Bidder Communications Inc. (BIDC) said on Thursday that as part of its diversification strategy the company has acquired 100% ownership of Southern States Gas Gathering LLC of Louisiana. The acquisition gives BIDC entry into the southern energy resource market.
Anadarko CEO Sees Long-Term Gas in $4-6 Mcf Range
Anadarko CEO Robert J. Allison, speaking at last week’s Rocky Mountain Natural Gas Strategy Conference, said he believes that in the long term, natural gas prices will stabilize in the $4-$6 Mcf range, although he noted that “$3 is still a pretty darn good gas price” in the overall scheme of things.
Anadarko CEO Sees Long-Term Gas in $4-6 Mcf Range
Anadarko CEO Robert J. Allison, the keynote speaker for Wednesday’s Rocky Mountain Natural Gas Strategy Conference, told a standing-room-only crowd that in the long term, he expects to see gas stabilize in the $4-$6 Mcf range, but noted that “$3 is still a pretty darn good gas price” in the overall scheme of things.
DOE to Review Oil, Gas R&D Programs
In keeping with policy directives in President Bush’s national energy strategy, Energy Secretary Spencer Abraham announced this week that the Department of Energy (DOE) will undertake a full-scale review of ongoing federal oil and natural gas research programs.
ONEOK Benefits, Suffers From High Gas Prices
While ONEOK’s energy marketing and trading and production units prospered in the second quarter, gathering and processing suffered as a result of lower processing spreads, cutting net income to $23.6 million or 20 cents per diluted share, compared to $27.2 million or 23 cents per diluted share for the same period a year ago.
Energy Policy Moves Front and Center
It’s crunch time on the energy policy front, and the big guns are in play, preparing the ground for the administration’s much-heralded comprehensive energy strategy. Vice President Dick Cheney has been putting in a series of media appearances lately, supporting energy development in the Arctic National Wildlife Refuge (ANWR), and a task force of energy experts has published a report calling on the nation to make some hard choices or face “more Californias in America’s future.”