Division

A bribery and financial misappropriation scandal uncovered by BJ Services Co. in its Asia Pacific region division has forced it to delay filing its fiscal year 2004 annual report. The oilfield services company has requested a 15-day filing extension from Securities and Exchange Commission that will extend the filing deadline to Dec. 29.

USGen New England Inc. on Tuesday said the U.S. Bankruptcy Court for the District of Maryland, Greenbelt Division, approved the sale of the company’s two coal/oil-fired electric generating facilities and a natural gas-fired plant to Dominion. The sale still requires certain regulatory approvals and transfer of all operating and environmental permits.

The U.S. Bankruptcy Court for the District of Maryland, Greenbelt Division last week approved National Energy & Gas Transmission Inc.’s (NEGT) plan of reorganization, paving the way for the power generation, marketing and pipeline company to emerge from bankruptcy in the next couple months. The company expects the plan to become effective by the end of May or early June.

The U.S. Bankruptcy Court for the District of Maryland, Greenbelt Division has approved National Energy & Gas Transmission Inc.’s (NEGT) plan of reorganization, paving the way for the power generation, marketing and pipeline company to emerge from bankruptcy in the next couple months. The company expects the plan to become effective by the end of May or early June.

Sixteen of 19 oil and gas leases were sold Thursday by the Bureau of Land Management’s Eastern States division in Springfield, VA, netting more than $65,275. Bonus bids, filing fees, and rental revenue amounting to $47,000 will go to the U.S. Treasury and $18,275 will be shared with the states where the leases are located on lands managed by the BLM. The BLM has responsibility for leasing the federally owned minerals located in the 31 states east of and adjoining the Mississippi River and offers selected parcels at quarterly competitive auctions. Regulations require the bidding to open at $2/acre. Cyberoil Corp. paid $16,320 for a 1709 acre parcel in Johnson County, AK. Its bid of $8/acre was the highest per-acre bid of the auction. Leases are awarded for a term of 10 years and as long thereafter as there is production of oil and gas in paying quantities. The federal government receives a royalty of 12.5% of the value of production. Also, each state government receives a 25% minimum share of the bonus bid and the royalty revenue from each lease issued in that state. The next competitive oil and gas lease sale will be held in March 2004. Visit the web site at www.es.blm.gov for more information about oil and gas lease sales.

Oneok Inc.’s Kansas Gas Service Co. division will get a $45 million rate increase, according to a new settlement agreement with the staff of the Kansas Corporation Commission, Citizens’ Utility Ratepayer Board and all intervenors in the rate case. The rate hike is about 41% lower than KGS, the largest natural gas distribution company in Kansas, originally requested ($76 million) to cover higher operating costs including health care coverage, wages, materials and supplies.

NewPower Holdings Inc. said Judge W. Homer Drake Jr. of the U.S. Bankruptcy Court for the Northern District of Georgia, Newnan Division, has confirmed its Chapter 11 plan as it applies to subsidiary The New Power Company, and the company expects the court to issue its order in the next several days. Ten days following the order, NewPower will begin paying the allowed pre-petition claims of its creditors. Creditors will receive distributions totaling $8.1 million, representing payment in full of allowed claims plus interest from June 11, 2002, the date the company and its subsidiaries filed voluntary petitions under Chapter 11. NewPower will transfer any cash remaining after such payment to TNPC Holdings, Inc. in satisfaction of all intercompany debt outstanding between them.

NewPower Holdings Inc. said Judge W. Homer Drake Jr. of the U.S. Bankruptcy Court for the Northern District of Georgia, Newnan Division, has confirmed its Chapter 11 plan as it applies to subsidiary The New Power Company, and the company expects the court to issue its order in the next several days. Ten days following the order, NewPower will begin paying the allowed pre-petition claims of its creditors. Creditors will receive distributions totaling $8.1 million, representing payment in full of allowed claims plus interest from June 11, 2002, the date the company and its subsidiaries filed voluntary petitions under Chapter 11. NewPower will transfer any cash remaining after such payment to TNPC Holdings, Inc. in satisfaction of all intercompany debt outstanding between them.

ChevronTexaco Corp. made three appointments to its new wholesale gas trading division, ChevronTexaco Natural Gas. Don Haley was appointed vice president of trading. Steve Wilson was named vice president of marketing, and Charlie Mertz was appointed director of supply and fuels management. They will report to Randy Curry, president of CTNG. Haley will be responsible for the daily management of the overall sales and supply portfolio for CTNG. He joined Chevron in 1980 and has held a variety of engineering, finance and trading positions of increasing responsibility. Wilson will be responsible for developing long-term natural gas sales agreements, primarily with utility and industrial customers across the United States. He joined Tenneco Oil in 1980 and worked in a variety of upstream engineering and operations assignments at Tenneco and Chevron prior to joining Chevron’s natural gas business unit in 1989. Mertz will direct the supply management activities for the company refineries, cogeneration partnerships and chemical plant facilities. He also will be responsible for procuring long-term supply from third party producers. Mertz held a variety of land and natural gas marketing roles at Apache, MidCon and Conoco Inc. in Denver before joining NGC/Dynegy in 1990.