Announced

PP&L Resources Inc. announced that it acquired Penn FuelGas, a gas distributor and storage company, in a stock transactionvalued at $133 million. The purchase was the latest step by theutility company to diversify its portfolio of energy products andservices, said PP&L Resources President William F. Hecht.

Dynegy Canada Inc., a subsidiary of Houston-based Dynegy Inc.,announced Friday it has acquired the midstream gas processingfacilities and gathering lines of Compton Petroleum Corp. for anestimated $39 million.

Taking its name and direction from its unregulated subsidiary,Washington Water Power announced Monday it will be cutting itsdividend by 61% and putting the money saved into growing allaspects of its business. The aim is to grow “a bigger and strongercompany” and the second priority is speed, the company’s newchairman and CEO Tom Matthews said.

The boards of directors of CalEnergy Co. Inc. and MidAmericanEnergy Holdings Co. announced yesterday that they have signed adefinitive merger agreement. Under the deal, Omaha, NE-basedCalEnergy has agreed to acquire neighboring MidAmerican Energy for$4 billion in a stock transaction.

Tesoro E&P Company L.P., a wholly-owned affiliate of TesoroPetroleum Corp., announced earlier this week it purchased a 50%working interest from Sheridan Energy in the Stiles Ranch Fieldnorth of Amarillo, TX.

Key Energy Group Inc. announced Tuesday that it has signed adefinitive merger agreement to acquire Dawson Production Servicesfor an estimated $352 million. The terms of the agreement call forKey Energy to purchase 11.5 million outstanding shares of Dawsoncommon stock for a total of $202 million, and to assume Dawson’sexisting debt of $150 million.

Interior Secretary Bruce Babbitt yesterday announced plans tore-open a large federal reserve site in northern Alaska to oil andnatural gas exploration.

Williams has announced an open season running now through Aug.24 to sign up firm shippers for expansion of its Transco pipelinesystem running northeast from Station 85 across Alabama and Georgiato mainline delivery points in Zone 4 and ending just north ofAtlanta, GA.

FERC Chairman James Hoecker has announced the start-up of threenew offices, created as a result of the agency’s on-goingrestructuring.