Days

Columbia Energy Group said yesterday it is extending the deadlineby seven days to May 10 on its merger proposal with ConsolidatedNatural Gas in response to a data request from CNG’s board. CNG askedfor additional information on a two-way collar mechanism in Columbia’sunsolicited $6.7 billion bid for the company (see Daily GPI, April 20).

Transco shippers have accumulated a significant negativeimbalance through the first 20 days of April, the pipeline said. Inorder to avoid restrictions that would be caused by a large volumeof receipt makeup transactions requested to flow for a limited timeat the end of the month, Transco urged that such transactions bescheduled as soon as possible to allow a steady flow rate throughApril 30.

Like dreams, rumors sometimes come true-and more frequentlythese days when the gossip foretells of yet another energy industryconsolidation. Last week’s buzz became this week’s ballyhoo Mondaywhen El Paso Energy and Sonat Inc. said they will merge in a $6billion deal.

With seven scheduled days left in the present legislative session, an amendment aimed at simplifying the assignment process in Georgia’s gas deregulation law is steam-rolling its way through the legislature. House Bill 822 passed through the state House of Representatives with a 164-0 vote last Tuesday, and after a brief stay in the hands of the Senate Finance Committee, it is on its way to the Senate floor for approval.

With seven scheduled days left in the present legislativesession, an amendment aimed at simplifying the assignment processin Georgia’s gas deregulation law is steam-rolling its way throughthe legislature. House Bill 822 passed through the state House ofRepresentatives with a 164-0 vote on Tuesday, and after a briefstay in the hands of the Senate Finance Committee, it is on its wayto the Senate floor for approval.

The energy industry has begun the “last days of the age of oil,”with a cast of cleaner fuels waiting to take center stage,according to ARCO CEO Mike R. Bowlin.

The energy industry has begun the “last days of the age of oil,”with a cast of cleaner fuels waiting to take center stage,according to ARCO CEO Mike R. Bowlin.

Following three straight days of advances the bears reclaimedthe futures market last Friday when early selling pressure piercedthrough several interim levels of support. From that point the routwas on as the February contract plummeted sharply lower inafternoon trading. Only the final bell could halt the decline thatleft the prompt month down 11.4 cent to $1.778.

The hemorrhaging of prices that marked the first two days oftrading in the December aftermarket came to a virtual standstillWednesday even as unseasonably warm weather continued in much ofthe nation east of the Rockies. Except for an increase of more thana dime into Northwest at Sumas, all points were either flat or upor down only a few pennies. The reason for the surge at Sumas andwhy it was handily outstripping Rockies prices was that distributorBC Gas in southern British Columbia was drawing more heavily thanusual on discretionary supplies, one source said.