Acquired

OGE Energy’s subsidiary Enogex, has completed the sale ofseveral non-core assets in Utah and in Oklahoma. The assets wereconsidered non-core by the company after it acquired Transok LLCfor $701 million in July 1999 (see Daily GPI, July 2, 1999).

AIG Financial Products Corp. and Enron Investment Partners Co.have acquired minority stakes in TreasuryConnect, a transactionexecution system for financial products traded between corporationsand banks. Bruce Usher, co-founder and president ofTreasuryConnect, said he was “extremely pleased” with AIG’s andEnron’s investment in his company, and said that “it reflectsfavorably on our technology and its ability to improve trading andoperational efficiency.” Even though it domestically transacts morethan $6 trillion a year, the interest rate and currency swap marketis one of the last markets to migrate to the Internet because ofthe relative complexity of derivative products, and the subtletiesof the trading process, according to Usher. TreasuryConnect, withoffices in New York City and Los Angeles, offers an Internet-basedtrading platform specifically designed for financial transactionsbetween banks and corporations. It also offers direct back officelinks for straight through processing, documentation solutions,historical data, research and analytical tools to facilitatetrading. AIG Financial is a wholly-owned subsidiary of AmericanInternational Group Inc. and Enron Investment is a wholly-ownedsubsidiary of Enron Corp.

Tesoro Petroleum Corp. of San Antonio, TX, agreed to sell all ofits domestic exploration and production business to EEX Corp. ofHouston for $216 million.

Houston-based Energy Solutions Inc. (ESI), the developer of gasand risk management software GASMAN, has been acquired byLICENERGY of Denmark. The deal is intended to create a company witha larger market presence in the transaction management andconsulting arena. Energy Solutions will be renamed Energy SolutionsInternational.

CMS Marketing, Services and Trading (CMS-MST) expanded its Canadian presence last week as affiliate PremStar Energy Canada acquired ECNG Inc., an independent energy consulting firm, from El Paso Energy Marketing Canada Inc. for an undisclosed sum. PremStar worked together with a group of former executives from ECNG to acquire the firm.

CMS Marketing, Services and Trading (CMS-MST) expanded itsCanadian presence yesterday as PremStar Energy, Canada, a CMS-MSTaffiliate, acquired ECNG Inc., an independent energy consultingfirm, from El Paso Energy Marketing Canada Inc. Terms were notdisclosed. PremStar worked together with a group of formerexecutives from ECNG to acquire the firm.

Coastal Oil & Gas Corp.-on behalf of Coastal Oil & GasUSA LP – acquired properties in the Piceance Basin of Colorado andthe Uinta Basin of Utah from Mitchell Energy & DevelopmentCorp.

Calpine Corp. of San Jose, CA, acquired the rights to build, ownand operate a 545-MW gas-fired power plant in Ontelaunee Townshipin eastern Pennsylvania. The proposed Ontelaunee Energy Center willserve users throughout the Pennsylvania-New Jersey-Maryland (PJM)power pool. Permitting for the proposed $285 million facility isnow underway, with construction scheduled to begin in early 2000.The plant, which is scheduled to start production in late 2001,will burn 85,000 to 90,000 MMBtu of gas per day.

Koch Midstream Services Co. of Houston bought West Texasgathering and treating assets from Glossop Gas Co. Koch acquiredGlossop’s Chenot Putnam Gathering System and Treating Plant inPecos County, TX. The treating plant is capable of processing 10MMcf/d. The gathering system includes 33.5 miles of high-pressurepipeline. The system also includes existing production.