Announced

Hoping the second time is the charm, Duke subsidiary TexasEastern Transmission announced Wednesday an open season for 300,000Dth/d of firm capacity on its proposed Spectrum Pipeline project.The open season will last from May 7 to June 4.

Hoping the second time is the charm, Duke Energy announcedWednesday an open season for 300,000 Dth/d of firm capacity on itsproposed Spectrum Pipeline project. The open season will last fromMay 7 to June 4.

Independent producer Titan Exploration Inc. announced Monday ithas agreed to sell all of its Gulf of Mexico assets to Coastal Oil& Gas for $71.3 million in cash plus overriding royaltyinterests in certain properties. The deal, which is expected toclose May 18th, comes on the heels of the completion of the sale ofits Louisiana onshore properties to Phoenix Oil and Gas Ltd. for$5.4 million in cash.

With the amount of capital driving today’s energy companies,Statoil Energy recently announced it is searching for a partner tobolster its resource base. A spokesman for the Virginia-basedenergy marketer said the process is moving quickly and the companyhopes to find a partner by the end of the year.

Connectiv Power Delivery, the utility subsidiary of Connectiv,announced its Natural Gas Choice Program for Delaware last week,enabling 15,000 residential and 1,500 small commercial customers tochoose their gas supplier as early as July 1. The program will lastfor two years, and will determine if the freedom to choose asupplier should be offered to all of Connectiv’s gas customers inDelaware.

Houston-based Anadarko Petroleum Corp. announced a common stockoffering of 6.25 million shares. Proceeds of about $240.6 millionbefore expenses are to be used for general purposes, including U.S.gas and oil projects. The offering is Anadarko’s first since it wasspun off from Panhandle Eastern Pipe Line in 1986. Moody’sInvestors Service changed its rating outlook for Anadarko’s fixedincome securities to stable from negative based on increasingproduction, reserve replacement at reasonable finding costs, aswell as the common equity issuance. Anadarko has replaced more than200% of production for the past five years and in 1998 replacedmore than 500% of production at finding costs below most of theindustry, Moody’s said. The addition of mainly gas reserves lastyear lowered oil reserves to about 53% of the total.

Representing the latest curve on what has become a very windyroad, Southwest Gas announced Wednesday it is reviewing SouthernUnion’s revised merger offer even though it already entered into amerger agreement with Oneok earlier this week. With two offers onthe table, Southwest Gas has said it will not comment further onthe subject until a decision is made, and industry analysts say thedecision will not be easy.

Connectiv Power Delivery, the utility subsidiary of Connectiv,announced its Natural Gas Choice Program for Delaware Tuesday,enabling 15,000 residential and 1,500 small commercial customers tochoose their gas supplier as early as July 1. The program will lastfor two years, at which point it will go under full review todetermine if the freedom to choose a supplier should be offered toall of Connectiv’s gas customers in Delaware.

With the amount of capital driving today’s energy companies,Statoil Energy recently announced it is searching for a partner tobolster its resource base. A spokesman for the Virginia-basedenergy marketer said the process is moving quickly and the companyhopes to have found a partner by the end of the year.