Entered

Aquila Inc., a wholly owned subsidiary of UtiliCorp United,announced yesterday that it has entered into an agreement topurchase an additional 10 natural gas-fired turbines from GeneralElectric (GE). Combined with previously announced agreements,Aquila has ordered a total of 21 turbines over the past 12 months.

Concluding a four-month process, AGL Resources reported that ithas entered into an agreement with Alliance Data Systems (ADS) tosell Utilipro, Inc. — a customer care and billing serviceprovider for energy marketers in a number of states. The sale comesjust five months after the billing provider was sued for $50million by bankrupt Georgia marketer Peachtree Natural Gas.

UniSource Energy and Betchel Power have entered into anagreement to build two additional coal-fired generation units atTucson Electric Power Co.’s Springerville Generating Station innortheastern Illinois. The companies said they chose to add on totheir current coal plant, instead of building a natural gas plantdue in-part to soaring natural gas prices. Tucson is a subsidiaryof UniSource. The two extra units will double the plants currentcapacity, by adding 760 MW. The first additional unit is expectedto be in service in 2004 with the second following in 2005. “We arecurrently building coal-fired plants in China, Australia, andMississippi, and recently delivered a coal plant in thePhilippines,” said Eric Grenfell, Bechtel Power’s senior vicepresident. “With increased interest in coal due to expectations ofcontinued high natural gas prices in North America, we expect tosee more coal projects such as this one in Springerville.”

Northern Border Partners L.P. (NBP) entered an agreement topurchase Bear Paw Energy, LLC from a consortium of investors for$370 million in cash and stock. Bear Paw Energy has gathering andprocessing operations in the Powder River Basin (PRB) in Wyomingand the Williston Basin in Montana, North Dakota and Saskatchewan.The company has about 226,000 acres under dedication and 600 milesof gathering pipelines in the PRB. Bear Paw holds over 2,800 milesof gathering pipoelines and four processing plants with a capacityof 90 MMcf/d in the Williston Basin. “Once completed, we will haveadded over $625 million in non-regulated assets to the partnershipwith our third major acquisition in a little over one year. Ourtotal mix of non-regulated businesses will be slightly over 25%,”said Bill Cordes, CEO of NBP. “These strategically located assetswill fit, both commercially and operationally, with Crestone EnergyVentures and Northern Border Pipeline.” NBP said $185 million willbe paid in its own common stock, with the remainder paid in cashand assumption of liabilities. Pending shareholder and regulatoryapprovals, the acquisition is targeted for completion by the end ofthe first quarter.

Starting 2001 with a rush of activity, Burlington Resources (BR)announced that it has entered into separate agreements totalingapproximately $385 million with Petrobank Energy and Resources Ltd.and ATCO Gas for properties in the Western Canadian SedimentaryBasin with combined net proved and net probable reserves of 497Bcfe. The company also reported that it raised its net income from$1 million for the full year 1999, to $675 million for the fullyear 2000.

Houston-based Newfield Exploration Co. entered the new Milleniumwith a bang, agreeing to buy rival Lariat Petroleum Inc. for nearly$333 million in cash, stock and assumed debt, and boosting itsreserves by about 40%. The properties, 90% in the Anadarko Basin ofOklahoma, produce 60 MMcf/d, and include 256 Bcf of reserves.

Natural gas cash and futures markets entered the stratosphere last week as cold weather, soaring demand and substandard storage levels led to new all-time high prices and prompted the U.S. Senate to schedule hearings on the situation.

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.

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.