Williams Companies Inc. (WMB) has filed an application with the Federal Energy Regulatory Commission (FERC) to expand its Transco natural gas pipeline to serve markets in the southeastern United States.  On approval from FERC, Williams expects the Mobile Bay South II Expansion project to provide services by spring 2011.   Through the expansion project, Williams expects to add 380,000 dekatherms of southbound, year-round firm transportation capacity on the Mobile Bay Lateral from Transco's mainline at Station 85 near Butler, Alabama, to its interconnect with Gulfstream Natural Gas System in Coden, Alabama.   Williams estimates that the project will require a compression addition of 8,180 horsepower at Transco compressor station 85 and facility modifications at Station 83. It expects the project facilities to cost approximately $36 million.   Recently, the company’s Mobile Bay natural gas processing plant returned to service, processing between 100 million and 200 million cubic feet ...

OGE Energy Corp. (OGE) reported third quarter earnings per share (EPS) of $1.40, topping the Zacks Consensus EPS estimate of $1.34. However, EPS in the reported quarter came a dime short, compared to the year-ago EPS of $1.50.  Earnings were boosted in the reported quarter by strong results at Oklahoma Gas and Electric Company (OG&E), offset by cooler weather in the OG&E service territory, lower commodity prices in the Enogex midstream pipeline business and an increase in the number of shares outstanding.  In the reported quarter, OG&E registered earnings of $1.26 per share, compared to $1.15 per share in the year-ago quarter. Enogex recorded earnings of 18 cents per share, compared to 30 cents per share in the year-ago quarter. The holding company, including results from the OGE Energy Resources marketing business, posted a loss of 4 cents per share, compared to earnings of 5 cents per ...

Luke Harding has two pieces on Russian climate change in today's Guardian: an audio report on Northern-Siberia's seasonal shifts, and a special report on the Yamal peninsula.  Rumors abound that China, Japan, Russia and France have been in secret talks on using an alternative to the dollar for oil trading, but OPEC's Secretary General says that, even if there were to be a shift, it would be a long process, and that 'tradition' would make it difficult.  Serbian oil monopoly NIS, majority owned by Gazprom Neft, has signed a $100 million loan with Bank of Moscow on the back of Medvedev's Belgrade visit.  Italy, Russia, and Turkey, have signed a joint statement on the construction of the Samsun-Ceyhan oil pipeline linking Turkey's Black Sea coast and Mediterranean coast (the New York Times has a special report today ...

On Oct 1, 2009, the North California Utilities Commission (NCUC) approved Progress Energy Carolinas' plan to build new a natural gas-fueled power generation plant in Wayne County. The commission approved a certificate of public convenience and necessity for Progress Energy Carolinas' proposed 950-megawatt (MW) combined-cycle power plant, with a projected investment of about $900 million.  Raleigh, North Carolina-based Progress Energy Inc. (PGN) is engaged in both regulated electric operations (in southeastern US) and unregulated businesses, which include competitive power generation, energy marketing and trading, natural gas exploration and production, and synthetic coal production.  Progress plans to build the Wayne County plant near the HF Lee coal-fired facility located on the Neuse River in Wayne County near Goldsboro. Once the new plant becomes functional in 2013, the company plans to retire the three coal units at Lee, which entered service in 1950s and 1960s.  The natural gas-fueled ...

Calgary-based Enbridge Inc. (ENB) recently announced that it reached an agreement with subsidiaries of U.S. oil major Chevron Corp. (CVX), Norway’s StatoilHydro ASA (STO) and Japan’s Marubeni Corp. to construct and operate a 40-mile, 20-inch oil pipeline from the proposed Big Foot ultra deepwater development in the Gulf of Mexico.   The planned conduit is estimated to cost approximately $250 million and will transport about 100,000 barrels of oil per day to a subsea connection on existing deepwater pipeline infrastructure. It will be located approximately 170 miles south of the Louisiana coast and reach depths of up to 5,900 feet below water.   The proposed Big Foot pipeline will complement Enbridge’s previously announced plans to build the Walker Ridge offshore natural gas pipeline in the area for $500 million. Thus the company has committed a total of $750 million in pipelines to service oil and gas exploration

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China Natural Gas, Inc. recently completed its secondary public offering of common stock, raising $47.5 million in net proceeds for the company. China Natural Gas, Inc. sold 5.725 million shares at a price of $8.75 per share.

Qinan Ji, the CEO of China Natural Gas, commented, “We are very pleased to announce the closing of this public offering. We believe this transaction will ensure the future growth of our LNG business and expansion of our existing CNG business, as well as further strengthen our balance sheet and enhance our working capital.”

China Natural Gas, Inc. owns and operates a 120 kilometer long compressed natural gas pipeline in the Chinese city of Xi’an to supply CNG for industrial, residential and commercial use. The company also operates a business converting automobiles from gasoline to CNG as its primary fuel source, and is entering the liquefied natural gas market as well.

China Natural Gas, Inc

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Williams Co.s Inc. (WMB) said on Wednesday that the Federal Energy Regulatory Commission (FERC) permitted it to extend its interstate Transco pipeline by 308.5 thousand dekatherms per day (Mdt/d) that will help the natural gas producer to reach southeastern US markets.

The Transco natural gas pipeline is a 10,500-mile pipeline system that carries natural gas to markets all over the northeastern and southeastern U.S. The current expansion is expected to boost the total system capacity to almost 8.5 billion cubic feet per day.

Known as the 85 North expansion project, the new service would be implemented in two phases. The first phase would increase capacity by 90 Mdt/d by summer 2010, while the second phase would raise capacity by 218.5 Mdt/d by summer 2011. Phase I construction is slated to begin this fall, while work on the second phase is scheduled to get underway next summer.

The project,

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Insight Management Corp. today gave investors additional details regarding its near-term growth strategy. Now that the company has established a solid foothold in the natural gas pipeline services industry, it anticipates meaningful growth through the acquisition of other complementary oil and gas enterprises that offer greater diversity in revenue streams.

Insight Management is currently focused on finding suitable candidates in the $15 million to $25 million revenue range that will be accretive to the company’s capital structure. Meanwhile, revenues of its wholly owned subsidiary, Rebel Testing, Inc. (RTI), are expected to grow organically as demand for natural gas pipeline and well servicing remains steady.

Commenting on the company’s strategy, President and CEO, Jennifer Rapacki, stated, “The cost effectiveness of alternative fuel sources like wind energy remains some time away. Right now, natural gas offers the U.S. an abundant resource more readily accessible and which it may utilize to greater effect

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Monday August 24, 2009

PennyOmega.com Stock Report!

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F5 Networks, Inc. (NASDAQ: FFIV), the global leader in Application Delivery Networking (ADN), today announced the results of a survey that shows how large enterprises are implementing cloud computing. The study reveals that among large enterprises, cloud computing is gaining critical mass, with more than 80 percent of respondents at least in trial stages for public and private cloud computing deployments. Additionally, despite the maturing rate of adoption of cloud computing among enterprises, the study shows that there is considerable confusion and concern around the definition of cloud computing.

RSC Holdings Inc. (NYSE:RRR), one of the largest equipment rental providers

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Institutional investors that own debt issued by Naftogaz, Ukraine’s state-owned gas firm, are waiting to learn their fate as the $500m worth of Eurobonds September 30th due date rapidly approaches. While some may have initially assumed that continued IMF largesse–$10bn of a $16.4bn standby loan program has now been disbursed–would render restructuring talk kaput, the country’s acting finance minister continues to insist that a restructuring will go ahead. Meanwhile, prices for the corporate debt, once considered almost sovereign in nature given the company’s government ties, fell over twenty percent last week, prompting cynics to speculate that the government was trying to manipulate prices downwards and hence make them easier to pay.  Finally, Moody’s, while downgrading the debt in question to Caa2 from Caa1, announced on Friday that “the probability of extraordinary government support to prevent a default should now be classified in the low rather

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