Albuquerque

NuDevco Midstream Development LLC(NMD), sponsor ofMarlin Midstream Partners LP, has agreed to buy a 28-acre industrial site near Albuquerque, NM, for an undisclosed price. The site includes rail access and room for crude oil storage tanks and multiple transloaders. Located in Bernalillo County, the site targets the San Juan Basin. NMD owns eight transloaders ready to be deployed. It is expected that once fully developed and commercially viable, the transloading and storage facilities will eventually be available to be dropped down to Marlin. “San Juan is an underserved crude oil region with tremendous demand for value-added midstream services, especially crude transloading and storage services,” said NMD CEO Keith Maxwell. The transaction is expected to close during the fourth quarter of 2013.

State of New Mexico officials, Albuquerque-based utility PNM and the U.S. Environmental Protection Agency (EPA) last Friday reached a tentative agreement on an emission reductions plan that would shutter two coal-fired generation units and create new natural gas-fired generation.

New Mexico regulators Thursday unanimously approved the $620 million cash sale of Albuquerque-based PNM Resources’ natural gas distribution utility operations, the state’s largest gas distributor, to New Mexico Gas Co.

Even with its share of the woes from the spotty operating record of Palo Verde Nuclear Plant last year, Albuquerque, NM-based PNM Resources Wednesday reported a 15.4% increase in ongoing earnings for 2006 — $122 million, or $1.80/diluted share, compared with $67.7 million, or $1.56/share, in 2005. The Twin Oaks power plant in Texas accounted for 19% of the ongoing earnings per share, according to PNM, while New Mexico utility results were modest.

Despite a prolonged outage at Palo Verde Nuclear Generating Plant in Arizona, Albuquerque, NM-based PNM Resources Wednesday reported increased second quarter profits of $17.4 million, or 25 cents/diluted share, compared with $12.5 million, or 20 cents/diluted share, for the second quarter in 2005.

Having lost its chief financial officer (CFO) who left to enter a new industry in Pennsylvania, Albuquerque, NM-based PNM Resources Monday said it reached into the public power sector for a new CFO, naming Charles N. Eldred to that position. Eldred, 52, comes from Omaha (NE) Public Power District, where he has been CFO since 1999.

In a financial sale announced Oct. 7 by Albuquerque-based PNM Resources, a state of Washington-based investment company controlled by Microsoft’s billionaire founder Bill Gates added to its holdings as the largest single shareholder in PNM. The transaction involved PNM Resources issuing $100 million of equity-linked securities, known as “Hybrid Income Term Security Units (HITS).”

In a financial sale announced Friday by Albuquerque-based PNM Resources a state of Washington-based investment company controlled by Microsoft’s billionaire founder Bill Gates added to its holdings as the largest single shareholder in PNM. The transaction involved PNM Resources issuing $100 million of equity-linked securities, known as “Hybrid Income Term Security Units (HITS).”

The 2005 Energy Policy Act, which is scheduled to be signed by President Bush Monday in Albuquerque was hailed by New Mexico officials as a boost for the expanded development of renewable energy, something this state views as a part of its longer term economic development. Participants at a renewable conference earlier this week in Santa Fe expressed a lot of optimism over the bipartisan-support legislation, the first comprehensive energy policy law in more than a decade.