Copano Energy LLC (CPNO) said that the Federal Energy Regulatory Commission has denied authority for Transcontinental Gas Pipeline Corp. to abandon its McMullen Lateral pipeline in South Texas by sale to Copano.
Copano's agreement to purchase the McMullen Lateral from Transco, announced in October 2008, was contingent on receipt of FERC authorizations.
Copano expressed disappointment over the FERC's decision. However, the company said it remains encouraged by the opportunities around its existing South Texas assets, including in the Eagle Ford Shale.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.