buyer

Inability to find a buyer for its “high-quality” Gulf of Mexicoproperties pushed Miami-based Forcenergy over the edge into Chapter11 bankruptcy last week, Chairman Stig Wennerstrom said in aconference call. At least one other debt-laden producing companycould follow in its footsteps.

Inability to find a buyer for its “high-quality” Gulf of Mexicoproperties pushed Miami-based Forcenergy over the edge into Chapter11 bankruptcy this week, Chairman Stig Wennerstrom said in aconference call.

Grass Roots Energy Co., a buyer’s agent for Georgia’sresidential energy consumers looking to switch from Atlanta GasLight Company (AGL), selected Shell Energy Services as the bestvalue in the market, the two companies announced Friday. Shellgained access to the 35,000 Grass Roots customers by beating out 18other marketers competing in the newly deregulated market. Clientswho signed up with Grass Roots by Nov. 4 will start new gas servicewith Shell Dec.1.

Grass Roots Energy Company, a buyer’s agent for Georgia’sresidential energy consumers looking to switch from Atlanta GasLight Company (AGL), selected Shell Energy Services as the bestvalue in the market, the two companies announced Friday. Shellgained access to the 35,000 Grass Roots customers by beating out 18other marketers competing in the newly deregulated market. Clientswho signed up with Grass Roots by Nov. 4 will start new gas servicewith Shell Dec. 1, 1998.

Grass Roots Energy Company, a buyer’s agent for 34,000residential gas customers in Georgia, decided to delay signing witha marketer amid the frantic atmosphere of the state’s first attemptat deregulation. The first signing period ended earlier this week,and the 16,000 Atlanta Gas Light (AGL) customers who did switch tonew marketers will have new service starting Nov. 1, 1998. (SeeDaily GPI, Oct. 28)

The $2.08-10 level has been a magnet for November futures pricesthis week, and yesterday was no exception when buyer and sellersmatched up just about evenly to produce a $2.095 settle. Sourcessaid strong selling above $2.10 was enough to thwart the earlymomentum produced from follow-through buying carried over from theWednesday evening Access session. Despite the relatively narrow8-cent trading range, estimated volume registered a hefty 62,079.

The Georgia Public Service Commission has refused to approvethree industrial supply deals signed by Atlanta Gas Light becausethe LDC filed to become a part of Georgia’s competitive gas market.