Mixed Signals?

Are you in or are you out?

Will ConocoPhilips flinch first? (LINK). BP's short on cash, ConocoPhillips is saying the wrong things - maybe by Christmas the projects will merge?

(Updated) Denali Gas Pipeline - Making Progress Times Two

From the Fairbanks News-Miner: "North Slope producers BP and ConocoPhillips took a preliminary step forward with their natural gas pipeline project this week, requesting the opportunity to work with federal regulators toward certification of the project, dubbed Denali."

From Reuters: The companies asked the Federal Energy Regulatory Commission over the weekend to start the formal review of a planned pipeline license application. The pre-filing for an application is a precursor to a long and rigorous process that is likely to take three years, said BP spokesman Steve Rinehart.

Great news - Somebody has their eye on the prize.

TransCanada did some maneuvering with the Canadian government to simplify regulation of gas produced outside Alberta.

Also - While TransCanada talks the talk the Denali team walks the walk. Denali opened a field office in Tok. Some times it pays to be the first-est with the most-est.