The Orlando [FL] Utilities Commission (OUC) approved the sale ofthe municipal utility’s 619-MW Indian River Steam Generation Plant(IRP) to Reliant Energy for $205 million.
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KN, Kinder Morgan Deal on Track
The proposed marriage of KN Energy Inc. and Kinder Morgan Inc.has passed federal antitrust review and has been verbally approvedby Colorado regulators, which puts the deal on track to becompleted in the early fourth quarter, the companies said.
Reliant Buys, Building Florida Generation
The Orlando [FL] Utilities Commission (OUC) approved the sale ofthe municipal utility’s 619-MW Indian River Steam Generation Plant(IRP) to Reliant Energy for $205 million.
Shareholders Seal Devon, PennzEnergy Marriage
Devon Energy Corp. and PennzEnergy Co. completed their merger,which was announced May 20. Shareholders of both companies approvedthe deal Tuesday. More than 99% of the shares represented at theDevon meeting were cast in favor of the merger. Of the sharesrepresented at the PennzEnergy meeting, about 92% were cast infavor of the merger.
Santa Fe Snyder Buys Into Shell’s Gulf Arsenal
Santa Fe Snyder, the resultant company from the recently approved Santa Fe Energy Resources and Snyder Oil Corp. merger, bought $210 million of interest in four Shell Exploration & Production Co. (SEPCo) Gulf of Mexico (GOM) assets. Closing is expected in August. Last week’s deal, which would give Santa Fe Snyder access to production from the Macaroni, Troika and Brutus deep-water fields as well as the Angus Complex, is expected to add 14.5 MMcf/d and 11,500 b/d of oil to the new company’s production results in 2000.
Sour Gas Drilling Near Calgary Approved
At the cost of a long fight and new orders to work overtime onimproving their community relations, Canadian producers have won avictory preserving access to a major drilling target: “sour”natural gas, laced with lethal hydrogen-sulphide.
Santa Fe Snyder Buys into Shell’s Gulf Arsenal
Santa Fe Snyder, the resultant company from the recentlyapproved Santa Fe Energy Resources and Snyder Oil Corp. merger,bought $210 million of interest in four Shell Exploration &Production Co. (SEPCo) Gulf of Mexico (GOM) assets. Closing isexpected in August. Monday’s deal, which would give Santa Fe Snyderaccess to production from the Macaroni, Troika and Brutusdeep-water fields as well as the Angus Complex, is expected to add14.5 MMcf/d and 11,500 b/d of oil to the new company’s productionresults in 2000.
Sour Gas Drilling Near Calgary Approved
At the cost of a long fight and new orders to work overtime onimproving their community relations, Canadian producers have won avictory preserving access to a major drilling target: “sour”natural gas, laced with lethal hydrogen-sulphide.
Massachusetts Utility Merger Gets FERC Green Light
The Federal Energy Regulatory Commission last week approved themerger of BEC Energy and Commonwealth Energy System, setting thestage for the combined company to become one of the largest energyproviders in the state of Massachusetts.
Uniform FERC Regulation of All OCS Pipes Proposed
A very divided FERC yesterday approved a proposed rulemakingthat seeks to create a uniform, complaint-driven system forregulating all offshore gas pipelines based on its authority underthe lighter-handed Outer Continental Shelf Lands Act (OCSLA).