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Chesapeake Lost Nearly $1B in ’98

Chesapeake Energy 1998 year-end results were hammered bynon-cash impairment charges of $881 million. Due mainly to “thesevere decline in oil and natural gas prices during 1998″Chesapeake lost $934 million on revenues of $382 million.

March 22, 1999

Washington Lawyer Eyed To Lead Producer Group

Washington attorney Katherine B. Edwards is among the candidatesbeing eyed by the Natural Gas Supply Association (NGSA) to succeedformer President Nicholas J. Bush, who departed the trade grouplast month amid allegations that he defrauded it of more than $2.4million, sources say.

March 22, 1999

Shell Entering Power Generation with Bechtel

Signaling what could become a trend among large producers, Shellyesterday said it is stepping into the independent power generationbusiness with partner Bechtel Enterprises.

March 18, 1999

OCC Nearing Decision on Gathering Rulemaking

As expected, there still is nearly complete disagreement amongOklahoma gatherers and producers over the fairness of current ratesand service treatment. Responses to a recent Oklahoma CorporationCommission (OCC) questionnaire reveal that nearly half of producerrespondents felt similarly situated producers on the same gatheringsystem received higher or lower prices than they received. Also,79% said this was unduly discriminatory.

November 16, 1998

Nebraska Munis Pay $162 M For 12-Year Supply

In a type of deal that is becoming increasingly popular amongmarketers selling to public entities, Aquila Energy has signed tosupply 91 Bcf over 12 years to municipal members of the NebraskaPublic Gas Agency (NPGA) for an advance payment of $162 million.

November 9, 1998

Aquila Energy Sells Long-Term to Munis

In a type of deal that is becoming increasingly popular amongmarketers selling to public entities, Aquila Energy has signed tosupply 91 Bcf over 12 years to municipal members of the NebraskaPublic Gas Agency for an advance payment of $162 million.

November 3, 1998

Internet Hastening Changes in Business

The Internet has spawned a revolution in the way business isdone that will not ignore the energy industry. In fact, the energyindustry is among the top businesses that will be impacted by theincreased use of the Internet for all types of transactions, saidSteven Bell, an analyst covering business trade and technologystrategies service for Forrester Research.

October 1, 1998

LG&E Sells Marketing Portfolio

LG&E Energy said last week its exit from the speculativeenergy marketing business is nearly complete. The company, whichwas among the top 10 largest power marketers and top 20 largest gasmarketers last year, completed four groups of portfolio salestransactions that are designed to offset a $232 million secondquarter loss suffered when LG&E was forced to cover a powermarketing agreement when power prices spiked to $7,000/MWh in June.

September 21, 1998

Take Your Pick Among Up, Down, Flat Markets

The overall cash market was far from a model of consistencyWednesday. While prices rose by up to a nickel at Gulf Coastpoints, Northeast citygates were no more than flat to up a penny.In contrast, while Michigan and Chicago-area citygates saw gains of2-3 cents, field prices in the Midcontinent were mostly flat around$2.10. However, a Midcontinent producer found it “a littlesurprising” that trading ended on a modestly strong note with latedeals tending to be near the top of small ranges.

May 21, 1998
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