Coastal Oil & Gas Corp.-on behalf of Coastal Oil & GasUSA LP – acquired properties in the Piceance Basin of Colorado andthe Uinta Basin of Utah from Mitchell Energy & DevelopmentCorp.
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Articles from Energy
Plant Sale Advancing Dynegy’s Illinova Deal
AmerGen Energy Co. agreed to buy Illinois Power Co.’s Clinton(IL) Power Station pending regulatory approval. The agreement tosell the nuclear station moves Illinois Power parent Illinova Corp.closer to meeting a condition of its recently announced merger withDynegy Inc.
Nuevo Nabs Some CA Assets From Texaco
Nuevo Energy, a Houston, TX-based exploration and productioncompany, bolstered its California position Tuesday by paying Texaco$61 million for interests in six oil and gas fields. Includingthese acquisitions, 87% of Nuevo’s total reserves and productionwill be based in California.
El Paso Buying Share of Newark Bay Cogen
El Paso Power Services Co., a subsidiary of Houston-based ElPaso Energy, agreed to buy the interests of PSEG Global and ENPEXCorp. in the Newark Bay Cogeneration Partnership in a deal worthmore than $100 million and expected to close as early as July thismonth.
Open Season Fills Elba Island LNG
The results are in from Southern LNG Inc.’s open season for arevitalization of the mothballed Elba Island LNG terminal, and thewinner of all 4 Bcf of capacity is Sonat Energy Services, aSouthern LNG affiliate and an affiliate of Southern Natural Gaspipeline. The winning bid was for a 22-year term at fullcost-of-service rates.
Midcoast Gobbles Up a Gulf Coast Distributor
In an attempt to expand its Gulf Coast influence, MidcoastEnergy Resources Inc. purchased Southern Industrial Gas Corp.(SIGCO), a Gulf Coast distributor, Tuesday. Terms of thetransaction were not disclosed.
PG&E Expects Earnings Hit Because of Rate Case
In what was said to be a message for Wall Street rather thanstate energy regulators, PG&E Corp. announced Monday that itssecond quarter results due out July 21 will be lower-than-expectedbecause of continuing delays in getting a decision on its pendinggeneral rate case before the California Public UtilitiesCommission. The company made a similar announcement near the end ofthe first quarter.
Court Speeds Up Columbia Case
The Chancery Court of Delaware is stepping up the pace on alawsuit filed on June 24 against Columbia Energy Group by NiSource,NiSource said yesterday. The court has called for an acceleratedschedule for the case in which NiSource is seeking to compelColumbia to reopen its 1999 annual meeting so that another directorcan be elected to a vacant seat on Columbia’s board.
FERC to Consider Sea Robin, OCS Regs, or Not
A decision on the remanded Sea Robin Pipeline case anddiscussion of policy changes in the way the Federal EnergyRegulatory Commission regulates offshore pipelines both are on theagenda for Wednesday’s open meeting, but no one will be surprisedif they’re a no-show once again.
FERC Considers Sea Robin, OCS Regs
A decision on the remanded Sea Robin Pipeline case anddiscussion of policy changes in the way the Federal EnergyRegulatory Commission regulates offshore pipelines both are on theagenda for Wednesday’s open meeting, but no one will be surprisedif they’re a no-show once again.