Con Edison last Wednesday announced the restoration of electrical service to its Cortlandt network in the early morning hours, returning service to all networks in lower Manhattan that lost power because of the recent terrorist attack at the World Trade Center. The company urged customers whose power has been restored to minimize the use of electricity while work continues in the area.
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DEFS Finishes 2000 With Multiple Transactions
Duke Energy Field Services (DEFS) finished off 2000 with a bangby completing three year-end asset transactions. First, the companyfinalized the $91 million sale of natural gas liquid (NGL) pipelineassets to TEPPCO Crude Pipeline, L.P., then it completed thepurchase of certain natural gas pipeline assets from El Paso FieldServices in two separate deals for an undisclosed sum.
Columbia Finishes Electric Subsidiary Sale
After agreeing to unload its electric subsidiary last week to Orion Power Holdings for about $200 million plus the assumption of debt, Columbia Energy Group announced that it has found a buyer for its electric subsidiary’s interests in four power generation Qualifying Facilities (QF). The interests, which were excluded from the Orion deal, will be sold to a partnership between Morristown, NJ,-based Delta Power Co. and John Hancock Life Insurance for an undisclosed amount (see NGI, Oct. 9).
Columbia Finishes Electric Subsidiary Sale
After agreeing to unload its electric subsidiary last week to OrionPower Holdings for about $200 million plus the assumption of debt,Columbia Energy Group announced that it has found a buyer for itselectric subsidiary’s interests in four power generation QualifyingFacilities (QF). The interests, which were excluded from the Oriondeal, will be sold to a partnership between Morristown, NJ,-basedDelta Power Co. and John Hancock Life Insurance for an undisclosedamount (see Daily GPI, Oct. 3).
Williams Finishes Opal Expansion
A unit of Williams’ energy services business finished expandinga gas plant in Opal, WY, that boosts cryogenic processing capacityto 735 MMcf/d and gas liquids extraction capacity to 43,000 b/d. Athird cryogenic processing train was added, two existing cryogenictrains were modified, and control systems and field compressionwere enhanced. Total costs exceeded $60 million.
Williams Finishes Rockies Gas Liquids Pipe
Williams’ Mid-America Pipeline subsidiary completed a 412-milepipeline that adds 45,000 b/d of capacity to its gas liquidspipeline system coming out of the Rockies. Line-fill and pipelinestart-up operations were completed Nov. 14.
Electric Load Loses Bite, Cash Finishes Softer
After Monday’s almost universal double-digit increases, cashprices were on auto-pilot Tuesday, as they trended down from theprevious day’s results. Many traders said Monday’s run-up would bethis week’s high, pointing to moderating weather and the thecompletion of pipeline maintenance projects.
Mitchell Finishes Job Cuts, Cuts Budget
Mitchell Energy & Development Corp. completed its previouslyannounced work force reduction and set its capital budget. As aresult of the company-wide downsizing and restructuring effort, 235positions have been eliminated, a 21% reduction in totalemployment. With these changes, the company expects annual salaryand benefits costs savings of about $17 million.
UPR Finishes Canadian Asset Sales
Union Pacific Resources Group Canadian subsidiary Union PacificResources Inc. (UPRI) has nearly completed its 1998 propertydivestiture program. The company expects to close on the finalproperty in the original offering later this year and projects its1998 non-core property sales program will top $143 million.
Williams Finishes Phase One of Mobile Bay Expansion
Williams completed and placed into service the first phase ofits Mobile Bay Expansion and Extension project to bring anadditional 350 MMcf/d of gas from East Main Pass Block 261 onshoreto Transco compressor station 82 in Coden, AL. “We have madeexcellent progress completing the first phase of this importantproject,” said Frank Ferazzi, vice president of customer serviceand rates for Williams’ Transco.