Assets

Conectiv is selling 1,875 MW of fossil-fired generation andrelated assets that are owned by its subsidiaries, Atlantic CityElectric Co. and Delmarva Power & Light, to NRG Energy ofMinneapolis, a subsidiary of Northern States Power, for $800million. The deal includes a power sales contract at closing, inwhich Delmarva will buy 500 MW from NRG.

Koch Gateway Pipeline has asked FERC to approve the sale of anundivided interest in its Mobile Bay Lateral assets to Florida GasTransmission (FGT) as part of the pipe’s Phase V expansion, givingFGT the right to half of the lateral’s capacity of 600 MMcf/d.

Koch Gateway Pipeline Co. has asked FERC to approve the sale ofan undivided interest in its Mobile Bay Lateral assets to FloridaGas Transmission (FGT) as part of the pipe’s Phase V expansion,giving FGT the right to half of the lateral’s capacity of 600MMcf/d.

Reliant Energy Solutions, a unit of Reliant Energy’s retailgroup, has announced an agreement to acquire the assets ofSouthland Industries’ Energy Services Division, a Long Beach,CA-based design-build mechanical contractor.

Statoil Energy, the largest Appalachian Basin gas reserve holderand a top energy marketer and independent power producer, was puton the auction block yesterday after having failed in its attemptthis summer to find a partner to invest about $1 billion in itsfuture.

Coastal Oil & Gas and Santa Fe Snyder have exchangedproperties in Utah, Wyoming, Texas and the Gulf of Mexico “toconsolidate assets into core areas for each company. Coastalreceived interests in six GOM blocks, plus the Jeffress Field inSouth Texas and 97,000 acres in Uintah and Duchense Counties inUtah. Coastal also received a cash payment of $18 million. Santa FeSnyder received interests in 22 Wyoming fields in the Green RiverBasin and three units in Gaines County, TX, in the Permian Basin.

Cross Timbers Oil Co. killed two birds with one stone recentlyas it sold $63.5 million of non-core assets in various RockyMountain and Midwest areas, then used the proceeds from the sale tobuy Lehman Brothers Holding’s 50% in Spring Holdings Co. The restof the proceeds from the sale were used to pay down debt, thecompany said when it revealed both transactions yesterday. CrossTimbers now owns 100% of Spring Holding Co.

Costilla Energy Inc., a Texas-based producer with assets inSouth Texas and the Permian Basin, reported last week it has filedfor Chapter 11 with the U.S. Bankruptcy Court in Midland, TX. Thecompany said despite this setback, its oil and gas operations willcontinue without interruption. The company did not return phonecalls by press time.

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.