Binge

Kicking off the new year with a binge of open seasons, Kinder Morgan Inc. (KMI) and Kinder Morgan Energy Partners, LP (KMP) launched three separate offerings Tuesday for pipeline projects poised to bring new supplies of gas into Arizona markets and the Midwest.

After going on an acquisition binge over the past couple of years, Oklahoma City, OK-based Devon Energy Corp. has switched gears and plans to shed up to $1.5 billion in properties in North America and overseas to reduce its ballooning debt by mid-2002.

After going on an acquisition binge over the past couple of years, Oklahoma City, OK-based Devon Energy Corp. has switched gears and plans to shed up to $1.5 billion in properties in North America and overseas to reduce its ballooning debt by mid-2002.

Buoyed by a massive buying binge by commercial traders who werelong paper positions and short January futures, natural gas futuressoared higher during the last 30 minutes of trading Wednesday,catapulting the market briefly above key resistance at $10.00. Whenall the dust had cleared and the orders tabulated in the data roomat Nymex, the numbers were staggering. During its 20-day tenure asprompt month at Nymex, January gained $3.773 or more than 60% tonotch the highest settlement in the history of the commodity at$9.98.

Calpine Corp., the San Jose, CA-based merchant power plantdeveloper/operator, continued its aggressive growth strategy lastweek, announcing separate acquisition and strategic alliances inthe central midsection of the U.S., along with startup anddevelopment of new projects in Texas and California, respectively.This latest growth spurt eventually could make Calpine by 2005 thenation’s largest merchant power plant operator with the youngest,most natural gas-intensive electricity generating network.

Calpine Corp., the San Jose, CA-based merchant power plantdeveloper/operator, continued its aggressive growth strategyMonday, announcing separate acquisition and strategic alliances inthe central midsection of the U.S. that eventually could make it by2005 the nation’s largest merchant power plant operator with theyoungest, most natural gas-intensive electricity generatingnetwork.

CMS Marketing, Services and Trading (CMS-MST) continued itsliquefied natural gas (LNG) buying binge last week, announcing 10more deliveries from Qatar to the CMS Trunkline LNG facility inLake Charles, LA. The deals bring the number of announced LNGcargoes headed to the Trunkline facility over the next two years to26.

CMS Marketing, Services and Trading (CMS-MST) continued itsliquefied natural gas (LNG) buying binge yesterday by announcing 10more deliveries from Qatar to the CMS Trunkline LNG facility inLake Charles, LA. The deals bring the number of announced LNGcargoes headed to the Trunkline facility over the next two years to26.

Oneok Inc. closed its $307.7 million acquisition of Dynegy’smidstream assets yesterday, and now is focusing on its other majorMidcontinent deal with Kinder Morgan.