Coastal Corp. announced that Engage Energy U.S., L.P. haschanged its name to Coastal Merchant Energy, L.P., which coincideswith the split of the Engage Energy joint venture by participantsCoastal and Westcoast Energy. Effective on Oct. 3, the operationswere divided into separate entities which are owned and operatedsolely by each company. Coastal Merchant Energy, which handles upto 3.5 Bcf/d, appointed James C. Dyer IV as president and CEO.”Coastal Merchant Energy, L.P. will continue to provide a fullspectrum of energy services, including natural gas marketing andtrading, electricity trading and sales, energy management services,structured storage and transportation-related services, structuredpower and management services, and energy risk managementservices,” said David A. Arledge, CEO of The Coastal Corp. “We willundoubtedly benefit from the further integration of our merchantactivities with Coastal’s asset-based businesses.”

Tulsa, OK,-based Home-Stake Oil & Gas Co. and Cortez Oil& Gas headquartered in Plano, TX, announced they have enteredinto a definitive merger agreement in which Cortez will purchaseall of Home-Stake’s outstanding shares from its shareholders for$11.00 per share. The two exploration and production companies willbecome one pending approval by Home-Stake shareholders, and othercustomary closing conditions. Both sets of directors have alreadyapproved the action, and the companies expect to have the dealclosed by the end of the year. Home-Stake Oil & Gas was foundedin 1917.

Constellation Power Source said it plans to build an 800 MW,combined-cycle power plant in Seguin, TX, located between SanAntonio and Austin. Commercial operation of the Rio Nogales PowerProject is slated to begin in June 2002. Rio Nogales is the fourthpower plant Constellation has announced it will build this year asthe company continues to seek opportunities to meet customer demandin national wholesale power markets. Constellation Power SourcePresident Charles W. Shivery noted the Austin-San Marcos-SanAntonio region of Texas is one of the fastest growing areas in theU.S. The $340 million plant will feature a combined-cycle facilitywith three natural gas turbines. Site clearing began for the RioNogales project in July 2000.

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