Buys

Calpine Corp. has further bolstered its gas supply portfolio with the purchase of Highland Energy Co. from Entergy Power Gas Operations Corp. and Louis Morrison. Highland currently aggregates more than 300 MMcfe/d across major U.S. supply basins. Financial details of the transaction were not disclosed.

Calpine Corp. has further bolstered its gas supply portfolio with the purchase of Highland Energy Co. from Entergy Power Gas Operations Corp. and Louis Morrison. Highland currently aggregates more than 300 MMcfe/d across major U.S. supply basins. Financial details of the transaction were not disclosed.

Caminus Corp. expects to boost its revenues by 40% next year and gain a significantly larger presence in the energy software business with the purchase of Altra Energy Technologies’ software operations. Caminus bought Altra’s software business with 1.975 million shares of common stock (currently valued at about $32 million) and $30 million in cash.

Caminus Corp. expects to boost its revenues by 40% next year and gain a significantly larger presence in the energy software business with the purchase of Altra Energy Technologies’ software operations. Caminus bought Altra’s software business with 1.975 million shares of common stock (currently valued at about $32 million) and $30 million in cash.

On the heels of the announcement that it had acquired a majority of TransCanada’s natural gas marketing business (see related story this issue), Atlanta-based Mirant Corp. reported that it has made its first production acquisition by purchasing interests in 18 natural gas and oil producing fields as well as 206,000 acres of mineral rights in South Louisiana from Castex Energy Inc. for approximately $162 million.

On the heels of the announcement that it had acquired a majority of TransCanada’s natural gas marketing business (see related story this issue), Atlanta-based Mirant Corp. reported that it has entered the production business by purchasing interest in 18 natural gas and oil producing fields as well as 206,000 acres of mineral rights in South Louisiana from Castex Energy Inc. for approximately $162 million.

Hoping to take advantage of future volatility in the California gas and power markets, Aquila Inc. has formed a partnership with ArcLight Energy Partners Fund to purchase Houston-based Western Hub Properties LLC for $220 million. Western Hub is a natural gas storage development company that owns the proposed Lodi Gas Storage facility near Sacramento as well as rights to other potential storage sites near Bakersfield, CA, and San Antonio, TX. The acquisition is subject to the approval of the California Public Utilities Commission.

Although it wants more than book value for its transmission assets if the state buys them, Southern California Edison Co. said it tentatively supports the latest California legislative proposal to restore the utility’s financial standing. Speaking at a state Assembly hearing, an Edison senior executive said that with some modification the proposal could restore the utility’s creditworthiness.

Hoping to take advantage of future volatility in the California gas and power markets, Aquila Inc. has formed a partnership with ArcLight Energy Partners Fund to purchase Houston-based Western Hub Properties LLC for $220 million. Western Hub is a natural gas storage development company that owns the proposed Lodi Gas Storage facility near Sacramento as well as rights to other potential storage sites. The acquisition is subject to the approval of the California Public Utilities Commission.