Green Bay, WI-based WPS Resources Corp. and Chicago-based Peoples Energy Corp. said Monday that upon regulatory approval their combined company will be named Integrys. “In Integrys, we have a name that reflects our commitment to open and honest business practices, prudent decision-making and a strong financial foundation,” said WPS CEO Larry L. Weyers, who will be CEO of the new company. “These values will support the integration of the two companies and help us achieve our vision of becoming a stronger and more competitive, diversified energy company. Integrys also conveys the core values of our combined company.” The new parent company will be listed on the New York Stock Exchange under the ticker symbol TEG. The energy marketing subsidiary will be called Integrys Energy Services Inc. The names of the operating subsidiaries will not change: Wisconsin Public Service Corp., Upper Peninsula Power Co., Michigan Gas Utilities, Minnesota Energy Resources, Peoples Gas, and North Shore Gas. The merger is expected to close in the first quarter of 2007. The companies announced the signing of a definitive merger agreement on July 10. The pairing of WPS and Peoples will bring together 1.6 million gas customers and 477,000 electric customers.

Energy Maintenance Services Group I LLC (EMS) said it purchased the majority of third-party operations and maintenance service contracts from CenterPoint Energy Pipeline Services. The contracts cover service agreements with natural gas, refined products and crude oil pipelines. Services include operations and maintenance, pipeline integrity and underground storage. As of Oct. 13, the contracts and service group purchased from CenterPoint will be known as EMS Gulf Coast LLC. “Purchasing these third-party contracts will only enhance the EMS business strategy to build on our position as a major provider of integrated O&M services to the energy industry,” said Tim Nesler, CEO of the EMS Group. In April, EMS acquired four companies, including Cypress Creek Pipeline Maintenance, AGIS Technology (mapping), Celtic Controls and the assets of Energy Services Mexico.

Talisman Energy Inc. said Monday that it plans to sell off five Alberta noncore properties with about 17,000 boe/d (60% gas) of current production. Company officials did not estimate reserves. The sales are expected to be completed by the end of the second quarter 2007. The sale of the assets is part of Talisman’s review of its noncore assets worldwide, some of which it believes may not be fully reflected in the company’s share price. The company intends to use any cash proceeds from these asset sales to repurchase Talisman shares. The predominantly nonoperated assets are grouped into five areas: Greater Lloydminster along the central Alberta-Saskatchewam border; Central Alberta; Pembina/Brazeau in west-central Alberta; Wapiti/North Deep Basin in the central Alberta foothills; and Cranberry/Chinchaga in northwestern Alberta. The company has retained Tristone Capital Inc. to initiate a competitive auction process.

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