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Spectra Announces TVA Deal for New Pipeline
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.
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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
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