Best

At best, the U.S. electricity industry is operating under an obsolete business model, the CEO of the Electric Power Research Institute (EPRI) told a Houston audience last Wednesday. But instead of the back-to-basics strategy now being advocated, it should transform itself for the future, said Kurt Yeager.

The American Gas Association has elected Atmos Energy CEO Robert W. Best as its chairman for 2004. AGA’s other new officers include New Jersey Resources CEO Laurence Downes as the 2004 first vice chairman and DTE Energy COO Stephen Ewing at second vice chairman. Seven members also were elected to serve three-year terms on the AGA board: EnergySouth CEO John Davis, Avista Corp. CEO Gary Ely, TXU Gas President Michael McCall, Memphis Light Gas & Water CEO Herman Morris, Cinergy Corp. CEO James Rogers, Montana-Dakota Utilities CEO Ronald Tipton and Wisconsin Public Service CEO Larry Weyers. The AGA represents 191 local energy utility companies that deliver gas to 53 million homes throughout the United States.

The American Gas Association has elected Atmos Energy CEO Robert W. Best as its chairman for 2004. AGA’s other new officers include New Jersey Resources CEO Laurence Downes as the 2004 first vice chairman and DTE Energy COO Stephen Ewing at second vice chairman. Seven members also were elected to serve three-year terms on the AGA board: EnergySouth CEO John Davis, Avista Corp. CEO Gary Ely, TXU Gas President Michael McCall, Memphis Light Gas & Water CEO Herman Morris, Cinergy Corp. CEO James Rogers, Montana-Dakota Utilities CEO Ronald Tipton and Wisconsin Public Service CEO Larry Weyers. The AGA represents 191 local energy utility companies that deliver gas to 53 million homes throughout the United States.

Nearly $53 million in deferred compensation paid to 162 of Enron Corp.’s former best and brightest could be divided among the bankrupt trader’s creditors under a ruling Monday by the U.S. Bankruptcy Court judge handling the case in New York.

Chevron Texaco is having one of its best years for exploration, and is well on its way toward creating a global natural gas business, according to CEO Dave O’Reilly.

ChevronTexaco is having one of its best years ever exploration-wise, and is well on its way toward creating a global natural gas business, according to CEO Dave O’Reilly.

The North American drilling rig count is off to one of its best starts in a while, up 15% since the beginning of this year, and is running counter to the year-end production spending surveys that indicated minimal spending this year, according to Raymond James Energy’s latest “Stat of the Week.”

The North American drilling rig count is off to one of its best starts in a while, up 15% since the beginning of this year, and is running counter to the year-end production spending surveys that indicated minimal spending this year, according to Raymond James Energy’s latest “Stat of the Week.”

Cheniere Energy Inc. wants investors to know that it intends to be a major player in the liquefied natural gas (LNG) business. The next best thing to changing its name to LNG is changing its stock ticker symbol. Effective next Monday (March 24), its symbol on the American Stock Exchange will change to LNG from CXY. The company has four potential sites for liquefied natural gas (LNG) import terminals along the Texas Gulf Coast and sees LNG as its strategic focus in the future because of declining domestic natural gas supply. “We have established a strong exploration and production foundation for Cheniere with growing natural gas reserves, cash flow and inventory of prospects that together become more valuable daily as our nation’s natural gas markets hover on almost historically low inventories. However, domestic exploration is no longer sufficient to assure meeting the growth in demand for natural gas, and our country will increasingly rely on imports in the form of LNG,” said Cheniere Energy Chairman Charif Souki said. “This symbol will reflect our new area of focus.” Houston-based Cheniere conducts exploration in the Gulf using a regional database of 7,000 square miles of 3D seismic coverage. It owns 9% of Gryphon Exploration.