NGI Archives | NGI All News Access
Industry Briefs
The Chicago Board of Trade (CBOT) closed an hour earlyyesterday, due to a power outage on the western loop area ofCommonwealth Edison’s (ComEd) power supply system. Thomas Donovan,CEO of the CBOT, said the outage was caused by three out of fourtransformers in the West Loop being out of service. ComEd did notreturn phone calls. The outage left 2,300 people in the heart ofChicago without power. Although no gas contracts are traded at theCBOT, the two electricity contracts traded at the exchange wereclosed at 2 p.m. EST. The exchange said its open outcry marketswill open normally today, and its electric trading system, ProjectA, is scheduled to open at 8 a.m. (Chicago time). There was noovernight trading at the CBOT.
CEC Resources, an exploration and production company focusedmainly in the Northwest, expanded its range yesterday by buyingBonneville Fuels Corp. from Salt Lake City, UT-based BonnevillePacific Corp. in an all cash deal worth $24 million. BonnevilleFuels is a Denver-based exploration and production company with 28oil and gas wells and 150,000 net acres located in Colorado,Kansas, New Mexico, Texas and Utah. Net proved reserves of thecompany are estimated at 250,000 barrels of oil and natural gasliquids and 40 Bcf of gas. Current production from the propertiesstands at 14 MMcf/d. The parties involved have scheduled Oct. 31 asthe closing date.
DPL Inc. said it won a one-year, $1.4 million contract to supplygas to Miami University. DPL currently manages 25 Bcf of gas peryear. It also offers customers a variety of energy services thatinclude energy management, power monitoring and aggregation. DPLInc. is a diversified energy company supplying 500,000 electriccustomers and 300,000 gas customers in the Midwest throughsubsidiary Dayton Power and Light.
©Copyright 1999 Intelligence Press Inc. All rights reserved. Thepreceding news report may not be republished or redistributed, inwhole or in part, in any form, without prior written consent ofIntelligence Press, Inc.
© 2024 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |