Deal

Questar Pipeline has called on FERC to jettison the proposedmerger of powerhouses Sempra Energy and KN Energy, insisting thedeal would “undermine” competition in the natural gas and electricmarkets in southern California.

Questar Pipeline has called on FERC to jettison the proposedmerger of powerhouses Sempra Energy and KN Energy, insisting thedeal would “undermine” competition in the gas and electric marketsin southern California.

Cross Timbers Oil Co. purchased a 50% interest in Spring HoldingCo., a private Tulsa, OK-based oil and gas producer, for $42.5million. The deal is expected to close June 30.

Pioneer Natural Resources Co. of Dallas announced thetermination of a purchase and sale agreement between Pioneer andCostilla Energy Inc. for the sale of certain oil and gas propertiesto Costilla. As a result of Costilla’s failure to close the April 1agreement, Pioneer has received one million additional shares ofCostilla common stock as liquidated damages.

Nipsco Industries Inc. subsidiary Energy USA Inc. last week completed its acquisition of TPC Corp., including its 66% interest in Market Hub Partners LP. The deal was finalized April 1 and is valued at about $150 million.

Nipsco Industries Inc. said subsidiary Energy USA Inc. completedits acquisition of TPC Corp., including its 66% interest in MarketHub Partners LP. The deal was finalized April 1 and is valued atabout $150 million.

UtiliCorp United wants to buy the rest of Aquila Gas PipelineCorp. it doesn’t already own, but the companies cannot agree on adeal. UtiliCorp currently owns about 82% of Aquila Gas Pipeline’soutstanding common shares.

Richmond, VA-based Dominion Energy stretched across the Continent to complete its purchase of gas producer Remington Energy Ltd., of Calgary, AB in a deal valued at nearly US$300 million that will give Dominion a stake in Alliance Pipeline. Still to be completed is its $6.3 billion agreement to buy Consolidated Natural Gas (CNG), which was originally announced in February, just days before the Remington buyout was revealed (See NGI March 1, 1999).

UtiliCorp United’s Aquila Energy signed a deal to supply gas tothe PowerSmith Generation facility near Oklahoma City, OK, Thecontract, which runs into 2004, is for 50 Bcf. “This is another ina series of long-term contracts that we’ve completed in the pastyear where we design unique energy risk migration arrangementsgiven specific independent power plant situations,” said Ed Mills,Aquila president.