Houston Industries Wholesale Energy Group has opened an office
in the financial district of San Francisco to help coordinate the
company's California generation, power marketing and associated
regulatory activities. "Houston Industries is a major player in
California energy markets with nearly 4,000 MW of power generation
capacity and more scheduled to go on line in the region in 1999,"
said Charles Oglesby, chairman of the HI Wholesale Energy Group.
Mark Davis, regional marketing director, opened the San Francisco
office in November.
International Gas Consulting Inc. (IGC), a Houston area gas
consulting firm, has formed a joint venture with Houston-based
Jofree Corp. that will broaden the coverage of both companies, they
said. IGC specializes in gas storage, while Jofree is experienced
in the downstream activities associated with gas and oil marketing.
Jofree recently expanded to include electric power marketing due to
the convergence of gas and power marketing suppliers.
Washington Gas, the U.S. Department of Energy, the Federal
Energy Management Program and the U.S. General Services
Administration are planning a three-day energy conference at the
Ritz-Carlton Hotel, Pentagon City, Arlington, VA, Jan. 6-8. The
event, called energyNow Workshop, is being designed to educate
government and non-government energy procurers and managers in the
Mid-Atlantic region about the efficiencies and cost savings that
are available in the deregulating energy arena. Conference
information is available online at www.gsa.gov/pbs/energynow.
Coho Energy has announced the sale of its Monroe, LA, gas field,
including 97 Bcf of proved natural gas reserves and related
gathering lines to a partnership managed by Enervest Management Co.
for $65 million. The sale is effective June 1, 1998. The properties
represented 13.8% of the company's year-end 1997 proved reserves,
but the Monroe gas field is "fully developed with little production
upside and it is not within the core areas of operation that Coho
expects to expand in the future." Proceeds will be used to reduce
borrowings under Coho's bank credit facility. The sale of the
Monroe field is the culmination of the rationalization and sale of
the Interstate Natural Gas Co. assets that Coho purchased in
November 1994 for $53 million. With the sale, Coho will have
realized a total of $124 million from the assets.
©Copyright 1998 Intelligence Press, Inc. All rights
reserved. The preceding news report may not be republished or
redistributed in whole or in part without prior written consent of
Intelligence Press, Inc.