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PATRIOT COAL CORPORATION (PCX)

Patriot Coal Corporation (NYSE: PCX) says it has resumed operations at the Federal No. 2 mine near Fairview, West Virginia. Operations at the mine were suspended on Friday, March 5 when the Company found an air quality measurement to be out of compliance with its ventilation plan. Alterations to the Company's ventilation plan have been approved by the U.S. Department of Labor, Mine Safety & Health Administration and the West Virginia Office of Miners' Health, Safety and Training. Air quality measurements are in compliance with the Company's approved ventilation plan.
A seemingly routine compliance issue, but one that might have caused problems if the response had been delayed. The upshot is that potential demerits were avoided, and perhaps even brownie points gained from regulators for the prompt response.

Mar 9 · 12:29:00 PM · Source: Company Press Release
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by Jeffrey Epstein

Spectra Energy (SE)

Spectra Energy Partners, LP (NYSE: SEP) today announced it has signed a precedent agreement with the Tennessee Valley Authority (TVA) for an expansion of its East Tennessee Natural Gas (ETNG) pipeline system to provide firm transportation services of up to 150 million cubic feet per day (Mmcf/d) to TVA's proposed 880-megawatt combined cycle, natural gas-fired power plant in northeast Tennessee. The scope of the Northeast Tennessee (NET) Project, which has an estimated capital cost of $135 million, includes expanding or modifying existing facilities on the ETNG system and building a new, 8.5-mile mainline extension that would generally follow TVA's existing transmission line corridor. The use of existing utility corridors and pipeline rights-of-way, where possible, will minimize the effects on landowners and the environment.
The new pipelines would increase natural gas transmission capacities. Project is subject to approval by the company board of directors, and by regulators.

Mar 9 · 12:20:00 PM · Source: Company Press Release
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by Jeffrey Epstein

Kinder Morgan Energy Partners, L.p. (KMP)

Fayetteville Express Pipeline, L.L.C., today announced that construction has begun on the Fayetteville Express Pipeline (FEP), a 50/50 joint venture between Energy Transfer Partners, L.P. (NYSE:ETP) and Kinder Morgan Energy Partners, L.P. (NYSE: KMP). The approximately 185-mile, 42-inch natural gas pipeline will serve the Fayetteville Shale producing region in Arkansas with an initial capacity to transport up to 2 billion cubic feet per day.

Mar 9 · 12:13:00 PM · Source: Company Press Release · Related: ENERGY TRAFER PARTNERS
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by Jeffrey Epstein

GASCO ENERGY INC (GSX)

Gasco Energy (NYSE Amex: GSX) today announced that it has consummated its previously announced sale of its Riverbend Project midstream assets to Monarch Natural Gas LLC, a portfolio company of Metalmark Capital Partners, for cash consideration of $23 million. Included in the transaction are substantially all of Gasco's Riverbend Project midstream assets comprised of the Company's gathering system and related pipeline and equipment and its two evaporation pits and related equipment used for the disposal of produced water from wells operated in the Riverbend area of Utah. The sale closed on February 26, 2010. J.P. Morgan Securities acted as financial advisor to Gasco in connection with the sale.
Gasco believes it has substantially and materially improved its balance sheet with this deal. Per the terms of the sale, it will now begin providing certain operating services to Monarch for at least six months.

Mar 3 · 11:56:00 AM · Source: Company Press Release
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by Jeffrey Epstein

El Paso (EP)

El Paso Corporation (NYSE: EP) announces that its subsidiaries, Southern LNG, Inc. and Elba Express Company, L.L.C., have placed in service two significant projects, the expansion of the Elba Island LNG receiving terminal near Savannah, Georgia and the new Elba Express Pipeline in eastern Georgia, respectively. "These two projects represent approximately $900 million of capital investment in critical new natural gas infrastructure which will be used to meet the needs of consumers and provide new sources of natural gas for the growing southeastern and eastern U.S. markets," said Norman Holmes, senior vice president and chief commercial officer for both Southern LNG and Elba Express.
The company says it owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers.

Mar 3 · 11:49:00 AM · Source: Company Press Release
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by Jeffrey Epstein

Holly Corporation (HOC)

Holly Corporation (NYSE: HOC) today announced that a fire was detected at approximately 12:40 PM MST in a new asphalt tank that was under construction at its subsidiary's Navajo Refinery in Artesia, New Mexico. The fire was extinguished after approximately 90 minutes by the refinery's fire fighting team. The fire resulted in two confirmed injuries that are believed to be serious, one missing and one likely fatality that is pending confirmation by authorities. The injured individuals are all employees of the independent contractor that was working on the new tank. The Company will provide an update when more information is available.
The new asphalt tank was under construction, and this incident will have no impact on the refining capabilities of the Navajo Refinery, the company says. Operations at the refinery continue as usual.

Mar 3 · 11:44:00 AM · Source: Company Press Release
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by Jeffrey Epstein

Carrizo Oil & Gas Inc. (CRZO)

Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) today announced record year-end proved reserves and record production for the fourth quarter and full year 2009. Year-end proved reserves were a record 601.9 Bcfe based on reports from Carrizo's third-party reserve engineers. This is an increase of approximately 20% over the year-end 2008 proved reserves of 502.6 Bcfe. The calculation of these reserves was based on oil and natural gas prices of $56.10 per barrel and $3.30 per Mcf, respectively. These prices reflect the SEC's new pricing methodology, which requires the use of the trailing 12-month arithmetic average of the price on the first day of the month. These prices were 40% higher and 34% lower than the prices used at the end of 2008 for oil and natural gas, respectively. This reserve increase equates to the replacement of 400% of 2009 production.
Additional reports and adjustments are in the full statement, not all positive. But the company is pleased it had an excellent operational year in net reserve additions, despite its reduced drilling program and the impact of lower prices.

Mar 3 · 11:36:00 AM · Source: Company Press Release
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by Jeffrey Epstein

Chevron (CVX)

As a verdict nears in the long-running environmental lawsuit against Chevron Corp. in Ecuador, both sides are ratcheting up the pressure, the San Francisco Chronicle reports. The man who says oil field contamination in Ecuador's rain forest killed two of his children will try to meet with Chevron's new chief executive officer, John Watson, the newspaper says. Together with some of his American supporters, Emergildo Criollo will go first to Watson's home in Lafayette, then to the company's headquarters in San Ramon, carrying with him petitions signed by 325,000 people asking Chevron to settle the suit. Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/01/BULA1C97V3.DTL#ixzz0h2ArSRBj
This litigation is a long-running sad story, and it is unclear when or if it will end.

Mar 2 · 10:48:00 AM · Source: San Francisco Chronicle
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by Jeffrey Epstein

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