Decided

Energy powerhouse Enron decided to test its mettle once againlast week, offering British metals trader MG Plc $4.46 per sharecash offer in its bid to enter a new marketplace. The bid values MGat $445 million (300 million pounds sterling).

Energy powerhouse Enron decided to test its mettle once againMonday, offering British metals trader MG Plc $4.46 per share cashoffer in its bid to enter a new marketplace. The bid values MG at$445 million (300 million pounds sterling).

Chicago-based Peoples Energy decided to eliminate the middle manlast week, purchasing an interest in 25 oil and natural gasproducing wells in South Louisiana and the Texas Gulf Coast regionfrom NBB Energy Partners LLP. The $18 million purchase makesPeoples Energy an operator of oil and gas properties for the firsttime in its history, with complete production responsibilities forthe purchased wells.

Chicago-based Peoples Energy decided to eliminate the middle manthis week, purchasing an interest in 25 oil and natural gasproducing wells in South Louisiana and the Texas Gulf Coast regionfrom NBB Energy Partners LLP. The $18 million purchase makesPeoples Energy an operator of oil and gas properties for the firsttime in its history, with complete production responsibilities forthe purchased wells.

The cash market decided to calm down Friday following the heatwave and futures excitement from earlier in the week. Having littlein new guidance from weather or a static screen, prices ranged fromflat to down about a nickel in most cases, with larger declines oneither side of a dime occurring in the cooled-off Northeast.

Despite current plans to reactivate LNG imports and expand the Cove Point LNG plant, Columbia Energy Group has decided the Lusby, MD-based facility does not fit into its core group of assets. The company announced plans last week to sell Cove Point and a related pipeline to Williams Gas Pipeline for $150 million. The sale is subject to clearance under the Hart-Scott-Rodino Act but should be completed by July 2000, the companies said.

Despite current plans to reactivate LNG imports and expand theCove Point LNG plant, Columbia Energy Group has decided the Lusby,MD-based facility does not fit into its core group of assets. Thecompany announced plans yesterday to sell the LNG facility andrelated pipeline to Williams Gas Pipeline for $150 million. Thesale is subject to clearance under the Hart-Scott-Rodino Act butshould be completed by July 2000, the companies said.

BP Amoco and Enogex Inc. decided to swap gathering systems inthe Arkoma Basin so the companies might capitalize on theirproducing well interests. BP Amoco received Enogex’s Red Oak gasgathering system in Latimer County in exchange for its Kinta andSouth Bokoshe gas gathering systems in LeFlore and Haskellcounties. No cash was involved in the deal.

Avista Energy, Avista Corp.’s trading and marketing affiliate,has decided to head west to find its fortune. The unit announced achange of corporate direction last week and will now embark on awestern-region based energy marketing and trading effort as opposedto its former national focus.