Exxon and Mobil said yesterday they expect antitrust reviews oftheir proposed $88 billion merger will be completed by the end ofthe third quarter. The companies filed the formal pre-mergernotification with the European Commission on May 3. Under the EC’sregulatory framework, that process should be completed around theend of September. As a result of discussions with the Federal TradeCommission, the companies believe that the FTC process can becompleted in the same time period. Shareholders of both companiesare scheduled to vote on the deal on May 27.
Will
Articles from Will
Castle Acquiring Gas Reserves
Castle Energy Corp. of Radnor, PA, will pick up about 27.5 Bcfeof proved reserves, about 55% gas, when it completes the purchaseof essentially all of AmBrit’s oil and gas properties for about $22million.
April 14, 1999
People
The Gas Research Institute re-elected Robert Catell, CEO ofKeyspan, as chairman of the Institute’s board of directors. Hejoined the board in 1992. It will be Catell’s second one-year termas chairman. Stanley Horton, CEO of Enron Gas Pipeline Group, wasrenamed vice chairman.
April 9, 1999
Equitable Files for Cut in Customers’ Bills
Equitable Gas Co. filed a gas cost adjustment with thePennsylvania Public Utility Commission (PUC) Thursday which, ifapproved, will result in a 9% reduction in customers’ monthlybills. The rate cuts would be effective Oct. 1. The PUC did notdisclose when it would review the filing.
April 5, 1999
Transportation Notes
El Paso’s Waha GE will be down for emergency maintenance at 6p.m. today through Thursday, March 25, for field gas compressorbearing replacement.
March 22, 1999
Transportation Note
Florida Gas Transmission plans a smart pig run April 5-9 betweenStations 2 (Robstown, TX) and 3 (Port Lavaca, TX). The project willlimit capacity at these interconnects upstream of Station 3:Duke-Robstown (40 MMcf/d), Valero Nueces (35 MMcf/d) and MOPS (75MMcf/d).
March 12, 1999
Southern Union Tops ONEOK Offer For Southwest
It’s funny how an extra hundred million dollars will get your attention. That’s what the board of directors of Southwest Gas Corp. have to contend with in the form of an unsolicited proposal from Southern Union Co., after they already had signed off on an offer from ONEOK Inc.
March 1, 1999
CERA Predicts Production Capacity Decline
Cambridge Energy Research Associates (CERA) released findingsyesterday that North American gas production capacity will weakenthis year – possibly by as much as 500 MMcf/d – due to cutbacks indrilling and exploration brought about by low oil prices.
February 11, 1999
Cost Cuts Help Majors Temper Low Prices
Chevron and Arco both said yesterday they will be chopping $500million from their costs for 1999. “To successfully weather thebusiness conditions of low crude oil, natural gas and commoditychemicals prices, we have to continue to find ways to minimize thecost of operating our business,” said Ken Derr, Chevron’s CEO.
January 26, 1999
El Paso’s Bondad Project Hangs in Limbo
FERC last week vacated its August order certificating El PasoNatural Gas Co.’s planned expansion of its 33-mile Bondad system, amove that the pipeline says puts the troubled project in anuncertain status.
January 18, 1999
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