Wed, Sep. 21, 12:23 PM
- The Atlantic Coast Pipeline joint venture says it signed a contract with Spring Ridge Constructors - comprised of Quanta Services (NYSE:PWR), Primoris Services (NASDAQ:PRIM) and others - as the lead construction contractor for the proposed $4.5B-$5B natural gas pipeline project.
- Atlantic Coast Pipeline expects to receive a FERC certificate in late summer or fall 2017, with construction beginning shortly thereafter, and anticipates completing construction and bringing the pipeline into service in late 2019.
- The pipeline is composed of Dominion (NYSE:D), Duke Energy (NYSE:DUK), Piedmont Natural Gas (NYSE:PNY) and Southern Co. (NYSE:SO)
Wed, Sep. 7, 4:17 PM
Mon, Aug. 8, 12:19 PM
- Williams Partners (WPZ +1.4%) and its co-developers in the $925M Constitution natural gas pipeline are favored to prevail in at least one of two legal challenges to New York’s opposition to the project, Bloomberg reports.
- The developers argue that the project should go forward and that requiring other state permits as a condition precedent to construction is an overreach.
- The FERC last month approved the 124-mile pipeline from the Marcellus shale region in Pennsylvania to markets in New England and New York, and granted the developers a two-year extension to December 2018.
- Other partners in the Constitution pipeline include Cabot Oil & Gas (COG +3.3%), Piedmont Natural Gas (PNY +0.1%) and WGL Holdings (WGL -0.8%).
Fri, Jul. 22, 11:54 PM
- The partners behind the proposed Constitution Pipeline earlier today asked the FERC for a 24-month extension until December 2018 to construct its 124-mile interstate pipeline from Susquehanna County, Pa., to Schoharie County, N.Y.
- FERC's initial approval had required completion of the extension by December 2016, but the project has been delayed because New York state regulators refused to grant a needed water quality certification in April.
- Williams Partners (NYSE:WPZ), Cabot Oil & Gas (NYSE:COG) and Piedmont Natural Gas (NYSE:PNY) are the partners behind the proposed $925M gas pipeline.
Wed, Jun. 8, 8:30 AM
Tue, Jun. 7, 11:03 AM
Tue, May 17, 8:57 AM
- The companies behind the proposed Constitution natural gas pipeline filed an appeal late yesterday arguing that the April decision by the state of New York to deny the project a key environmental permit was “arbitrary and capricious."
- The companies say they also filed a separate action seeking a declaration that New York’s authority to exercise permitting jurisdiction over certain other environmental matters is pre-empted by federal law.
- Williams Partners (NYSE:WPZ), Cabot Oil & Gas (NYSE:COG) and Piedmont Natural Gas (NYSE:PNY) are the stakeholders in the proposed $925M gas pipeline, which was denied a water quality permit by the New York Department of Environmental Conservation after failing to meet state standards.
Mon, Apr. 25, 5:35 PM
- Developers of the 124-mile Constitution Pipeline say they will challenge New York’s rejection of a critical water quality permit.
- The backers of the pipeline - Cabot Oil & Gas (NYSE:COG), Williams Partners (NYSE:WPZ) and Piedmont Natural Gas (NYSE:PNY) say the decision was politically motivated and that the state's denial letter contained “flagrant misstatements and inaccurate allegations."
- The pipeline had received approval from the FERC in 2014, but the state regulator said it would have crossed 250 streams in New York and had a significant impact on unique ecosystems.
- The group can appeal the state decision to the U.S. Circuit Court of Appeals.
Fri, Apr. 22, 6:57 PM
- New York environmental regulators reject a critical permit needed to build the Constitution Pipeline, saying the project fails to meet standards that protect streams, wetlands and other water resources in its path.
- The FERC approved the natural gas pipeline in 2014 contingent on the state permit, which is required by the federal Clean Water Act; the project had all necessary permits for a segment in Pennsylvania and already cleared trees there in preparation for construction.
- Constitution Pipeline Company, a partnership formed by Cabot Oil & Gas (NYSE:COG), Williams Partners (NYSE:WPZ) and Piedmont Natural Gas (NYSE:PNY), can appeal the state decision.
- Now read Kinder Morgan pipeline shelved but Constitution Pipeline still set to go
Thu, Apr. 21, 5:57 PM
- Even as Kinder Morgan (NYSE:KMI) drops its plans for a natural gas pipeline from New York into New England, another project following a similar route continues to move ahead.
- The partnership consisting of Cabot Oil & Gas (NYSE:COG), Williams Partners (NYSE:WPZ) and Piedmont Natural Gas (NYSE:PNY) now planning the 124-mile Constitution Pipeline from Pennsylvania's Marcellus Shale to eastern New York says its project is supported by firm customer commitments; KMI cited a lack of contracts with gas distribution companies as one reason it was quitting its Northeast Energy Direct project, which was still under review by FERC.
- Construction of the Constitution Pipeline is scheduled to begin this fall and go online in H2 2017; the project was scheduled to begin this summer but has been delayed pending action on a water quality permit that has been before the Department of Environmental Conservation for nearly a year.
Fri, Mar. 11, 5:45 PM
- Williams Partners' (NYSE:WPZ) says it is delaying the in-service date for its $925M Constitution natural gas pipeline to H2 2017 from Q4 2016 as it awaits environmental permits in New York.
- The 124-mile, 650K dkm/day pipeline will bring gas from the Marcellus shale in Pennsylvania to New England and New York, but the project has triggered opposition from landowners, public officials and environmental groups.
- WPZ, the largest stakeholder at 41%, is developing the pipeline with Cabot Oil & Gas (NYSE:COG), Piedmont Natural Gas (NYSE:PNY) and WGL Holdings (NYSE:WGL).
- Separately, WPZ reaches an agreement to provide deepwater gas gathering services for Royal Dutch Shell (RDS.A, RDS.B) and Nexen's (NYSE:CEO) Appomattox development offshore Louisiana.
Wed, Mar. 9, 4:40 PM
- Piedmont Natural Gas (NYSE:PNY): FQ1 EPS of $1.29 beats by $0.05.
- Revenue of $461.33M (-24.0% Y/Y)
Mon, Feb. 29, 4:34 PM| Mon, Feb. 29, 4:34 PM | 13 Comments
Thu, Feb. 18, 11:59 AM
- AGL Resources (GAS -0.5%) agrees to acquire Piedmont Natural Gas' (PNY +0.1%) entire ownership interest in SouthStar Energy Services for $160M, subject to PNY’s own sale to Duke Energy later this year.
- AGL's Georgia Natural Gas subsidiary gave notice to PNY in December that it would purchase the final 15% of SouthStar, a multi-state gas transportation company, gaining the right to purchase the stake in the joint venture because of the pending sale to DUK; but the two companies had not settled on a price at the time of the announcement.
- AGL also is soon to be bought, as Southern Co. announced in August it planned to buy AGL for $8B, plus the assumption of $4B in debt.
Tue, Feb. 2, 9:58 AM| Tue, Feb. 2, 9:58 AM
- January monthly performance was: -6.63%
- 52-week performance vs. the S&P 500 is: +1%
- No dividends were paid in January
- Top 10 Holdings as of 12/31/2015: Manhattan Associates Inc (MANH): 0.44%, Health Net Inc (HNT): 0.41%, j2 Global Inc (JCOM): 0.35%, MarketAxess Holdings Inc (MKTX): 0.34%, Casey's General Stores Inc (CASY): 0.33%, StanCorp Financial Group Inc (SFG): 0.32%, Bank of the Ozarks Inc (OZRK): 0.32%, Piedmont Natural Gas Co (PNY): 0.31%, Vail Resorts Inc (MTN): 0.31%, Charles River Laboratories International Inc (CRL): 0.3%
Fri, Jan. 15, 6:58 PM
- Four consumer and environmental groups agree to stop fighting Duke Energy's (NYSE:DUK) Edwardsport coal gasification plant in Indiana and join the company's settlement reached with other parties in September.
- In addition to absorbing $87.5M in operating costs of the plant since it began operations in June 2013, DUK says it will stop burning coal within seven years at its New Albany power plant, provide energy assistance for needy customers, and spend $500K for solar projects at churches, schools and other community sites.
- If the settlement is accepted by the Indiana Utility Regulatory Commission, litigation related to the plant effectively would end.
- Separately, DUK files for approval with the North Carolina Utilities Commission of its $4.9B acquisition of Piedmont Natural Gas (NYSE:PNY).