Boosted by stronger results in its regulated business units, El Paso Corp. reported Tuesday that it recorded a profit in 2Q2004. With Securities and Exchange Commission (SEC) approval, El Paso filed the quarterly statement late to reconcile prior income statements between 2001 and 2003.
Discloses
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El Paso Posts 2Q Profit, Discloses Investigation in Iraqi Oil Sales
Boosted by stronger results in its regulated business units, El Paso Corp. reported Tuesday that it recorded a profit in 2Q2004. With Securities and Exchange Commission (SEC) approval, El Paso filed the quarterly statement late to reconcile prior income statements between 2001 and 2003.
Reliant Discloses Federal Price Reporting Probe
Reliant Resources Inc. said in its quarterly 10Q filing with the Securities and Exchange Commission that it received a request from the U.S. Attorney for the Southern District of Texas in October for information regarding “certain price reporting matters.”
Reliant Discloses Federal Price Reporting Probe
Reliant Resources Inc. said in its quarterly 10Q filing with the Securities and Exchange Commission that it received a request from the U.S. Attorney for the Southern District of Texas in October for information regarding “certain price reporting matters.”
Entergy Discloses Informal SEC Investigation into Wash Trades
Three federal government agencies, including FERC, the Commodity Futures Trading Commission (CFTC) and now the Securities and Exchange Commission (SEC), are investigating alleged “wash trading” by Entergy Corp., Entergy-Koch, LP or Entergy-Koch Trading, LP in 2001 and 2002.
Entergy Discloses Informal SEC Investigation into Wash Trades
Three federal government agencies, including FERC, the Commodity Futures Trading Commission (CFTC) and now the Securities and Exchange Commission (SEC), are investigating alleged “wash trading” by Entergy Corp., Entergy-Koch, LP or Entergy-Koch Trading, LP in 2001 and 2002.
Mirant Boosts Liquidity, But Discloses Accounting Errors, Subpoena, 3Q Net Loss
Mirant’s liquidity position improved last week after it completed the sale of a one-third stake in the Shajiao C power plant in China to China Resources Power Holding Co. Ltd. for $300 million. Proceeds from the sale increased its liquidity to $1.4 billion and allowed Mirant to eliminate a $254 million loan at its Asian holding company.
Mirant Discloses Accounting Errors, Subpoena for Commodity Pricing Information
In addition to reporting lower financial results and cutting its full-year earnings guidance in its quarterly 10-Q with the Securities and Exchange Commission (see Daily GPI, Dec. 24), Mirant also disclosed multiple accounting errors in previous financial statements. The company also told the SEC that it has received a subpoena from the U.S. attorney for the Northern District of California asking for details about possibly reporting inaccurate gas and power price information to the trade press.
Halliburton to Pay $4B to Settle Asbestos Claims, Discloses Formal SEC Probe
In one of the largest settlements ever, Halliburton, the Houston-based oilfield services company that was once run by Vice President Dick Cheney, agreed to pay $4 billion to settle all present and future asbestos claims, allowing the $13 billion company to continue business as usual while providing for victims of asbestos exposure. The company also disclosed last week that it is under formal investigation by the Securities and Exchange Commission into disclosure and accounting practices during the vice president’s tenure as chief executive from 1995 to 2000.
Cleco Discloses Round Trip Trades, Other Questionable Transactions
Cleco Corp. last Thursday said that it has identified so-called “round trip” trades, as well as transactions that may have violated affiliate regulations established by FERC and the Louisiana Public Service Commission (PSC), after a review initiated by its board of directors of certain energy trading activities over the past three years.