Calpine Corp. and General Electric Corp.’s GE Energy Financial Services unit have obtained an $844.5 million credit facility to finance construction of the precedent-setting natural gas-fired 619 MW Russell City Energy Center in the East San Francisco Bay Area town of Hayward, CA. The joint venture power plant, now under construction, was the nation’s first to receive a federal air permit that includes a voluntary limit on greenhouse gas (GHG) emissions. GE and Calpine said the financial facility includes a construction loan that converts to a 10-year term loan when Russell City begins commercial operations in mid-2013. Approved for construction almost a decade ago, the Russell City project struggled with changes and a lack of a long-term sales contract for its output. With GE as a partner, Calpine obtained state approval for a long-term power sales contract with Pacific Gas and Electric Co. in 2009, and obtained a key GHG emission permit from the Bay Area Air Quality Management District last year.
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Energy Exports From New Brunswick Expected to Dip
Export Development Canada (EDC), the country’s export credit agency, is predicting that New Brunswick’s growth in energy exports will slow in 2011 and 2012, in part due to depressed natural gas prices.
New Brunswick Energy Exports Expected to Dip
Export Development Canada (EDC), the country’s export credit agency, said Friday that New Brunswick’s growth in energy exports will slow in 2011 and 2012, in part due to depressed natural gas prices.
Kinder Buying Petrohawk’s Half of Haynesville JV
Kinder Morgan Energy Partners LP (KMP) is buying Petrohawk Energy Corp.’s half of the companies’ Haynesville Shale midstream joint venture, KinderHawk Field Services, and also acquiring a 25% interest in Petrohawk’s gas gathering and treating business in the Eagle Ford Shale, the companies said.
Survey: Energy CFOs Expect Global Demand to Increase
For the most part, exploration and production (E&P) company CFOs expect demand for natural gas and oil to increase next year, but they’re looking over their shoulders at international competition and wondering what U.S. lawmakers might do that could make it tougher to earn a buck in the energy patch. These are some of the findings of a survey by consultancy BDO USA LLP released last week.
Cardinal Midstream Buying Woodford Assets
Antero Resources agreed to sell its Woodford Shale midstream assets to affiliates of Cardinal Midstream LLC for $268 million in cash, it said Friday.
Moody’s: North American Midstream Looks Solid
The North American midstream energy sector has a positive outlook over the next 12-18 months based on an expectation that fundamental credit conditions in the industry will improve, Moody’s Investors Service analysts said Thursday.
North American Midstream Looks Solid
The North American midstream energy sector has a positive outlook over the next 12-18 months based on an expectation that fundamental credit conditions in the industry will improve, Moody’s Investors Service analysts said Thursday.
Energy M&A Market Strengthening
With improved credit markets and increased CEO confidence, the U.S. market for oil and gas mergers and acquisitions (M&A) in 2Q2010 reached its highest level in more than six quarters, according to a survey by PricewaterhouseCoopers LLP (PwC).
U.S. M&A Market Strengthens in Quarter
With improved credit markets and increased CEO confidence, the U.S. market for oil and gas mergers and acquisitions (M&A) in 2Q2010 reached its highest level in more than six quarters, according to a survey by PricewaterhouseCoopers LLP (PwC).
