Attorneys active in the oil and gas industry warn that a pair of bankruptcy court cases involving distressed exploration and production (E&P) companies could spell trouble for the midstream sector, with the potential for more E&Ps using bankruptcy protection as a means to get out of long-term contracts.
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PG&E Feels Financial Sting of Pipeline Blast Penalties
The financial impact of more than a billion dollars of regulatory fines and penalties against Pacific Gas and Electric Co. (PG&E) last year were felt in the 4Q2015 and full-year results of its parent company, PG&E Corp. Meanwhile, senior company officials reported on the pending activity in regulatory and criminal court proceedings, which is still unfolding.
February 23, 2016
Debate Follows SoCal Well Leak Closure; Cost Estimate Up to $300M
While leadership has shifted to the California Public Utilities Commission (CPUC) in overseeing an independent investigation of the root causes in the four-month-old natural gas storage well leak in Southern California, the future of the 86 Bcf, 3,600-acre underground storage field is shrouded in doubt and dissention.
February 22, 2016
FERC Staff Recommends Mitigation For Rover in DEIS
FERC staff released a draft environmental impact statement (DEIS) for the Rover Pipeline LLC project that found “adverse and significant” impacts and makes recommendations to mitigate them that it said should be included in any approval of the project.
February 19, 2016
With East-to-West Expansion Coming, NGI’s REX Tracker Evolves to Monitor In-Demand Pipe
After pivoting to east-to-west flows to accommodate the mighty Marcellus and Utica shales, the Rockies Express Pipeline (REX) has been a major outlet for Appalachian Basin gas to reach Midwest delivery points.
February 19, 2016
California Regulators Set Aliso Canyon Injection Well Review Criteria
The California Department of Conservation (DOC) on Wednesday released the review criteria to be applied before any injection can resume into Southern California Gas Co.’s (SoCalGas) Aliso Canyon natural gas storage facility, the site of a recently plugged nearly four-month-long storage well leak, which was permanently sealed on Thursday (see related story).
February 18, 2016
Williams Sees Little Risk in Contract Exposure to Troubled Chesapeake
Williams CEO Alan Armstrong on Thursday downplayed Williams Partners LP’s gathering contract exposure to troubled producer Chesapeake Energy Corp. and said Chesapeake has been paying its bills.
February 18, 2016
State Regulators Confirm Leaking SoCalGas Well Permanently Sealed
Engineers from California’s Division of Oil, Gas and Geothermal Resources (DOGGR) on Thursday confirmed that the nearly four-month-old leaking natural gas storage well in Southern California has now been permanently sealed.
February 18, 2016
Bipartisan Governors’ Group Signs Clean Energy Accord
A bipartisan group of governors from 17 states on Tuesday announced the formation of a clean energy accord that they see as a multi-state economic development tool.
February 17, 2016
Utah OKs Proposed Changes to Magnum Gas Storage Project
Utah officials have reviewed proposed changes to Magnum Gas Storage LLC’s plans to construct, own and operate a natural gas storage facility and a major pipeline header system in western Utah, and the state supports the project, according to documents filed at FERC.
February 17, 2016
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