Coho Energy is exiting bankruptcy protection with new seniormanagement and a new bank facility. Coho and five of its affiliatesfiled for Chapter 11 Aug. 23. At the time, Coho listed totalliabilities of $425 million. Under the reorganization plan, Coho’sthree largest institutional bondholders converted their debt into90% of the equity of the reorganized company. These bondholdersalso provided the majority of the $72 million of subordinatednotes, as provided under the reorganization plan. The bondholdersare Appaloosa Management, Oaktree Capital Management and PPMAmerica.

Blessing from the Securities and Exchange Commission (SEC) isthe only thing standing in the way of Stamford, CT-based EnergyEast’s proposed transactions with CMP Group, CTG Resources andBerkshire Energy Resources now that the FERC has approved thedeals. Energy East expects SEC approval and closing of the threedeals by mid-year. Energy East completed its merger withConnecticut Energy in February. Energy East is a super-regionalenergy services and delivery company in the Northeast. Uponcompletion of its mergers with CMP Group, CTG Resources andBerkshire Energy Resources , Energy East will serve 1.4 millionelectricity and 600,000 gas customers in upstate New York and NewEngland.

HoustonStreet Exchange of Portsmouth, NH, added a gas platformto provide real-time access to pricing information and industrynews. Besides gas, traders can buy and sell wholesale electricity,crude oil, refined products (such as jet fuel, unleaded gasoline,diesel and heating oil) and now, natural gas. HoustonStreet.comwill enable traders to customize their Web page to gain a betterview of the different gas markets. oustonStreet.com is structuredto be the first fully Web-based gas exchange that enables tradersto analyze spread information. This shows traders how a bid in oneregion would play out in another region. This is useful for thoseconducting inter-regional trades because they have a broader viewof the market and the different trading options they can pursue.

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