Wake

In the wake of the price spikes in heating oil, CommissionerCurt Hebert Jr. yesterday called on his FERC colleagues tocertificate the Northeast-bound gas pipeline projects that havebeen stalled at the Commission to reduce the region’s historicdependence on the higher priced heating fuel.

Joe B. Foster, the new chief — at least for now — of BakerHughes Inc., is promising improved performance to shareholders inthe wake laggard stock performance and the disclosure of accountingirregularities that have launched a slew of investor lawsuits.

Joe B. Foster, the new chief — at least for now — of BakerHughes Inc., is promising improved performance to shareholders inthe wake of the disclosure of accounting irregularities that havelaunched a slew of investor lawsuits.

Recriminations, investigations and large dollar lawsuits wereflying last week in the wake of the failed Oneok-Southwest Gasmerger.

McMoRan (MMR) Exploration Co., Phosphate Resource PartnersLimited Partnership (PLP) and its administrative managing generalpartner IMC Global Inc. (IGL) said PLP and IGL have resolved anddismissed with prejudice their lawsuit against MMR and four formerdirectors of Freeport-McMoRan Inc.

Aggregation of small retail natural gas customers is still alive in California, but barely. And it’s future is dim in the wake of new state legislation (AB 1421) passed earlier this month and now on the governor’s desk. The legislation restricts unbundling in the retail core gas markets (see NGI Sept. 13).

Aggregation of small retail natural gas customers is still alivein California, but barely. And it’s future is dim in the wake ofnew state legislation (AB 1421) passed earlier this month and nowon the governor’s desk. The legislation restricts unbundling in theretail core gas markets (see Daily GPI, Sept. 13).

Western Gas Resources said last week it is weighing its optionsin the wake of a judge’s rejection of its proposed pipeline bypassof Pacific Gas & Electric Co. Administrative Law Judge AndreaBiren recommended regulators approve the gas utility’s motion toreject Western’s application, and reject a contention by Westernthat PG&E was engaging in anti-competitive behavior. Thejudge’s recommendation is scheduled to be considered by theCalifornia Public Utilities Commission Oct. 7.

In the wake of a well blowout and fire that burned for months inthe oil/gas saturated area between Bakersfield and the Elk Hillspetroleum reserve, a flood of small and medium-size Canadianbackers have moved into this old production region 100 miles northof Los Angeles, betting that new significant pools of natural gascan be found with deep-drilling below 15,000 feet.