Vows

Canadian Superior said late last week that it plans to fight the recently-filed class action lawsuits, which charge that the company and its management issued a number of “materially false and misleading statements” about its El Paso Mariner I-85 well from Nov. 17, 2003 to March 11, 2004. The suit charges the defendants with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The well is located in the Atlantic Ocean off Nova Scotia.

Canadian Superior said this week that it plans to fight the recently-filed class action lawsuits, which charge that the company and its management issued a number of “materially false and misleading statements” about its El Paso Mariner I-85 well prior to abandonment. The well is located in the Atlantic Ocean off Nova Scotia.

Transcontinental Gas Pipe Line Corp. contends that its existing tariff provisions governing discount rates at secondary transportation points fully comply with the Federal Energy Regulatory Commission’s discount policy. But if necessary, the Williams pipeline said it is willing to remove certain words from its tariff to quell agency concerns about its discounting practices.

Congress went home for the holidays last week with a massive $400 billion overhaul of Medicare under its belt, but passage of a comprehensive energy bill eluded it for the third year in a row. The bill became deadlocked in the Senate when Republican-led proponents were unable to find two additional votes to push the measure through, effectively stranding the bill in Congress until next year. GOP leaders vowed to pick up where they left off when they return for the second session in late January.

Failing to find two additional votes, Republican-led proponents abandoned all hope late Monday of passing omnibus energy legislation in the Senate before adjourning, effectively stranding the bill in Congress until next year. GOP leaders vowed to pick up where they left off when they return in late January.

Senate proponents of an omnibus energy bill suffered a major defeat Friday when adversaries successfully blocked the Republican-crafted measure, throwing into doubt congressional passage of comprehensive energy legislation this year. Senate Majority Leader Bill Frist (R-TN), however, said he would bring the bill up for “at least one more vote” before the Senate adjourns on Tuesday.

Senate proponents of an omnibus energy bill suffered a major defeat Friday when adversaries successfully blocked the Republican-crafted measure, throwing into doubt congressional passage of comprehensive energy legislation this year. Senate Majority Leader Bill Frist (R-TN), however, said he would bring the bill up for “at least one more vote” before the Senate adjourns on Tuesday.

Bitter rivals IntercontinentalExchange (ICE) and the New York Mercantile Exchange (Nymex) had a public spat last week over a judge’s decision in their legal dispute over ICE’s use of Nymex settlement prices in ICE over-the-counter (OTC) contracts.

IntercontinentalExchange (ICE) took issue Thursday with an announcement made by the New York Mercantile Exchange (Nymex) a day earlier concerning a judge’s decision in their legal battle. Nymex had announced that the judge ruled on the merits on the case and dismissed four out of five counterclaims made by ICE against Nymex. But ICE said that’s not entirely true. In fact, the judge left open the possibility that ICE could file amended counterclaims and continue its fight (see Daily GPI, Aug. 14).