Energy software developer Allegro Development Inc. said Tuesday that Suncor Energy Marketing Inc. (SEMI), a subsidiary of Calgary-based Suncor Energy Inc., has successfully completed the implementation of Allegro v. 7.0. for its natural gas marketing operations. SEMI, which began its search for a comprehensive, multi-commodity energy marketing system with integrated risk management capabilities last year, said it selected Allegro after a competitive and rigorous selection process. “The company’s decision to bring our marketing operation back in house created an immediate need for an integrated, multi-commodity management system that could support our natural gas marketing operations,” said Mr. Dale Hansen, project director for SEMI. SEMI said the implementation of Allegro for its natural gas marketing operations took four months to complete and the company went live in October 2003. “The project went well coming in on time and budget for the required scope,” added Hansen. “Early indications are that the system has been accepted well by our users and is delivering what we required.”
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Cheniere Posts Profit on Sale of Freeport LNG Stakes
LNG receiving terminal developer, Cheniere Energy Inc., announced Monday that it posted first quarter 2003 net income of $3,121,309, or $0.23 per share, compared with a net loss of $2,530,967, or $0.19 per share, a year earlier.
Cogentrix, Dynegy Work to Resolve Default Tied to Plant Loans
North Carolina-based power plant developer Cogentrix is currently in talks with Dynegy and banks to resolve a Dynegy subsidiary’s default under loan agreements tied to the construction of an 816 MW power plant located in Louisiana. The default was automatically triggered in the wake of several ratings agencies lowering their credit ratings on Dynegy.
CT Lawmakers Fail in Efforts to Override Cable Moratorium Veto
Cross Sound Cable Co., the developer of a high-voltage electric transmission cable across Long Island Sound, scored a major victory last week after Connecticut state lawmakers fell short in their efforts to override a veto of legislation by Connecticut Gov. John Rowland that called for a one-year moratorium on the siting of new electric cables and natural gas pipelines in Long Island Sound and would have been applied retroactively to the Cross Sound Cable project and several gas pipeline projects.
Calpine Completes Acquisition of Otay Mesa Project
Calpine Corp. has completed the acquisition of the 500 MW Otay Mesa Generating Project near the Mexican border from developer PG&E National Energy Group. The project, which is targeted for completion in mid-2003, is billed as the first new generating project in San Diego County in 30 years.
Independent Touts EOG Interest in CA Field
An already bullish California oil/gas developer with both deep-drilling and shallow gas exploration in separate parts of Kern County received another shot of optimism earlier this month on reports that EOG Resources plans to expand its oil drilling program in the general area within 10 or 15 miles of the town of Delano, CA. EOG officials in Denver denied having any such plans.
Independent Touts EOG Interest in CA Field
An already bullish California oil/gas developer with both deep-drilling and shallow gas exploration in separate parts of Kern County received another shot of optimism earlier this month on reports that EOG Resources plans to expand its oil drilling program in the general area within 10 or 15 miles of the town of Delano, CA. EOG officials in Denver denied having any such plans.
Calpine, Bechtel Plan 600 MW San Francisco Plant
Under an ongoing partnering agreement, Calpine Corp., the voracious San Jose, CA-based power plant developer, and a part of the venerable San Francisco-based international infrastructure builder, Bechtel, applied to the California Energy Commission to build and operate a 600 MW natural gas-fired power plant in the East San Francisco Bay town of Hayward.
Calpine, Bechtel Plan 600 MW San Francisco Plant
Under an ongoing partnering agreement, Calpine Corp., the voracious San Jose, CA-based power plant developer, and a part of the venerable San Francisco-based international infrastructure builder, Bechtel, applied to the California Energy Commission Wednesday to build and operate a 600 MW natural gas-fired power plant in the East San Francisco Bay town of Hayward.
Solo Energy Taps Enron as Investment Partner
Enron North America has entered into a strategic partnershipwith Solo Energy Corp., a developer of wireless energy microturbineproducts for distributed electricity supply, involving cashinvestment, marketing and competitive fuel pricing.
