Creating

Constellation Energy subsidiary Constellation NewEnergy Gas Division (CNE Gas) has completed the acquisition of Cornerstone Energy Inc., creating one of the nation’s largest natural gas marketing companies.

Constellation Energy subsidiary Constellation NewEnergy Gas Division (CNE Gas) has completed the acquisition of Cornerstone Energy Inc., creating one of the nation’s largest natural gas marketing companies.

With a corporate strategic goal of becoming the nation’s leading utility, PG&E Corp. has no plans for mergers or acquisitions and will concentrate on creating new earnings opportunities within the regulated utility business, according to CEO Peter Darbee. He made the remarks Thursday on a conference call announcing earnings that were down for the fourth quarter last year, but increased for all of 2006, compared with 2005.

With a corporate strategic goal of becoming the nation’s leading utility, PG&E Corp. has no plans for mergers or acquisitions and will concentrate on creating new earnings opportunities within the regulated utility business, according to CEO Peter Darbee. He made the remarks Thursday on a conference call announcing earnings that were down for the fourth quarter last year, but increased for all of 2006, compared with 2005.

Alaska Gov. Frank Murkowski recently signed an administrative order creating a lease monitoring and engineering integrity coordinating office (LMEICO) within the state’s Department of Natural Resources (DNR). The LMEICO is charged with coordinating the oil infrastructure oversight efforts of a multitude of state, federal and local agencies stretching from the North Slope fields to the Alyeska marine terminal at Valdez.

Alaska Gov. Frank Murkowski last week signed an administrative order creating a lease monitoring and engineering integrity coordinating office (LMEICO) within the state’s Department of Natural Resources (DNR). The LMEICO is charged with coordinating the oil infrastructure oversight efforts of a multitude of state, federal and local agencies stretching from the North Slope fields to the Alyeska marine terminal at Valdez.

Adding to its Rocky Mountain production portfolio while creating efficiencies within the region, Bill Barrett Corp. said Thursday that it has entered into an agreement to purchase Fort Worth, TX-based CH4 Corp. — which has significant acreage in a Powder River Basin coalbed methane (CBM) play — for $80 million, subject to customary adjustments for working capital changes and other matters.

The Department of Energy has concluded that creating a natural gas reserve similar to what has been done with petroleum would be “problematic” because of the substantial number of privately owned gas storage fields already in operation throughout the country, Energy Secretary Samuel Bodman said during a media breakfast presentation hosted by Energy Daily.

Sudden extremely cold weather could result in curtailment of interruptible gas service to power generators in New England this winter, creating the potential for an energy emergency in New England, according to an analysis by Cambridge Energy Research Associates (CERA). A repeat of the close call faced by the region during a January 2004 cold snap is not out of the realm of possibility, CERA added.