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Briefs

Briefs

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.

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