Range Resources Corp. and FirstEnergy Corp. last week announcedthe formation of a $1 billion exploration and production jointventure in the Appalachian Basin. Each company will own 50% of theyet-to-be-named venture. The deal is expected to close within 60days.
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NiSource Takes Offer to Columbia Shareholders
NiSource is taking its $68/share offer ($5.6 billion) directlyto Columbia Energy Group shareholders today and said it has filedlitigation against Columbia and its directors in the DelawareChancery Court in an attempt to gain an opportunity to nominate adirector to fill a vacant seat on Columbia’s board. The seat wasvacated in May when one of Columbia’s directors retired, butColumbia failed to call for a shareholder vote on a replacement atits annual meeting last month, NiSource said.
Range Resources, First Energy Form Appalachian Giant
Range Resources Corp. and FirstEnergy Corp. announced Thursdaythe formation of a $1 billion joint venture in the AppalachianBasin. Each company will own 50% of the yet-to-be-named venture.The deal is expected to close within 60 days.
Electric Restructuring Becomes Law in Texas
Texas Gov, George W. Bush Friday signed into law a bill torestructure the state’s $19 billion electric industry.
NY PUC Approves Generating Unit Sales
Consolidated Edison Co. of New York will collect $1.1 billionand Niagara Mohawk Power Corp. will pick up $355 million on salesof several fossil-fueled generating plants, approved Thursday bythe New York State Public Service Commission.
NY PUC Approves Generating Unit Sales
Consolidated Edison Co. of New York will collect $1.1 billionand Niagara Mohawk Power Corp. will pick up $355 million on salesof several fossil-fueled generating plants, approved Thursday bythe New York State Public Service Commission.
Congress Oks Producer Relief in Emergency Spending Bill
Senate and House lawmakers last week voted out a $15-billionemergency funding measure that, among other things, will give somelong-sought relief to domestic natural gas and oil producers. Thebill is expected to be signed by President Clinton.
Producer Relief Addressed in Emergency Bill
Senate and House lawmakers are expected to vote this week on a$15-billion emergency funding measure that, among other things,would provide some long-sought relief to natural gas and oilproducers.
TU Backing Texas Electric Deregulation Bill Now in House
Dallas-based Texas Utilities supports a bill to deregulateTexas’ $19 billion electric industry. The proposal was passed lastweek by the House State Affairs Committee by a vote of 13 to 2 andnow goes to the full House for consideration.
TU Backing Texas Deregulation Bill Now in House
Dallas-based Texas Utilities said it supports a bill toderegulate Texas’ $19 billion electric industry. The proposal waspassed Wednesday by the House State Affairs Committee by a vote of13 to 2 and now goes to the full House for consideration.