Unable to find a partner with liquidity and stature to boost its own, Dynegy Inc. is winding down contracts and closing down its formerly extensive marketing and trading offices in the United States, Canada and Europe. The former market-maker has mapped a future on the assets it still holds, and will operate them within four entities: power generation, natural gas liquids, regulated energy delivery and communication.
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Down Trend Resumes as January Dumps 16 Cents
The apparent short-term correction in this bear market may have come to an end Monday as the January contract busted through and closed below Friday’s low, ending the day down a hefty 16 cents to $2.686/MMBtu. With very little in the way of bullish fundamentals available, other than some slightly chilly weather in northeastern markets, some observers see the potential for more sharp declines as the contract makes its way toward expiration next week.
December 18, 2001
EEX Dumps 100 Shallower Gulf Prospects
In a planned move to dump its mature shelf properties andconcentrate on new exploration opportunities, EEX Corp. is sellingits interests in nearly 100 offshore lease blocks in the shallowerwaters of the Gulf of Mexico to an undisclosed buyer for $60million. The properties contain estimated proved reserves of 58Bcfe, of which 33% are proved producing, as of Oct. 1.
December 21, 2000
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