Virginia Gas Co.’s shareholders last week approved a merger planwhich would allow the company to fold under Bedminster, NJ-basedNUI Corp. as a wholly-owned subsidiary. Under the terms of themerger, NUI Corp. will acquire all of Virginia Gas’ shares ofcommon stock for $4.00 per share in NUI common stock. The exchangeratio will be established at a time more near the merger’scompletion. Based on Virginia Gas’ outstanding shares, thetransaction value of the company’s equity is placed at $22 million.
Allow
Articles from Allow
Nicor Wants Compromise on Choice Program
Nicor Gas has filed a plan with the Illinois Commerce Commissionthat would allow customers to continue to participate in thecompany’s Customer Select program until the ICC completes itsinvestigation of the program.
EIA Suggests Greater Access for Rocky Mt. Producers
If the U.S. government would allow energy companies to drill onmore federal lands in the Rocky Mountain states, natural gasproduction could increase and prices then would fall, according toa report issued last week by the Energy Information Administration(EIA), the U.S. Department of Energy’s statistical agency.
EIA Suggests Greater Access for Rocky Mt. Producers
If the U.S. government would allow energy companies to drill on more federal lands in the Rocky Mountain states, natural gas production could increase and prices then would fall, according to a report issued last week by the Energy Information Administration (EIA), the U.S. Department of Energy’s statistical agency.
Southern Energy to Manage CanWest Gas’ Business
CanWest Gas Supply Inc., an old-line natural gas aggregator in British Columbia — and also the largest — has agreed to allow Atlanta’s Southern Company Energy Marketing to manage its business.
Southern’s Canadian Grip Bolstered
CanWest Gas Supply Inc., an old-line natural gas aggregators inBritish Columbia — and also the largest — has agreed to allowAtlanta’s Southern Company Energy Marketing to manage its business.
Viking Begs FERC Not to ‘Silence Debate’ on Pricing Plan
Viking Gas Transmission has appealed to FERC not to “silencedebate” on a limited Section 4 proposal that would allow it tocharge higher incremental rates for historically lower-pricedcapacity as it opens up on its system, without having to file afull-scale rate case.
Viking Begs FERC Not to ‘Silence Debate’ on Pricing Plan
Viking Gas Transmission has appealed to FERC not to “silencedebate” on a limited Section 4 proposal that would allow it tocharge higher incremental rates for historically lower-pricedcapacity as it opens up on its system without having to file afull-scale rate case.
Exxon-Mobil Marching Toward Marriage
Exxon Mobil launched a new organization structure built on aconcept of eleven separate global businesses designed to allow thecompany to compete more effectively in a changing worldwide energyindustry. Lee Raymond, CEO, said by mid-December the company willannounce a revised forecast of merger benefits that will likelyexceed the $2.8 billion annual level announced last year.
Transportation Notes
Tennessee said operating conditions had improved enough Monday toallow it to lift an OFO Action Alert implemented Saturday (see DailyGPI, Nov. 12). Weekend OFOs by PacificGas & Electric, Southern California Gas and Northern Natural Gasalso were no longer in effect Monday.