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UtiliCorp United subsidiary Aquila Energy has formed Natural GasPartners Development to develop midstream gas assets. David Hookeris the general manager of the new group. “It is our goal to expandAquila’s midstream assets book in a manner complementary to itssuccessful trading operation, supporting the company’s commitmentto always remain on that leading edge providing the best customersservice in the industry,” Hooker said.

Columbia Energy Group (CEG) announced a letter of intent to form a marketing joint venture with Metromedia Energy, Inc. (MME) last week. The venture, called Columbia Metromedia Energy, is subject to execution of a definitive agreement and other conditions and is expected to be operational by the end of the first quarter of 2000. No financial terms were announced.

Columbia Energy Group (CEG) announced yesterday a marketingjoint venture with Metromedia Energy, Inc. (MME). The venture,called Columbia Metromedia Energy, is subject to execution of adefinitive agreement and other conditions and is expected to beoperational by the end of the first quarter of 2000. No financialterms were announced.

Storm hype or not? It was inevitable that debate on the subjectwould break out again Wednesday after Tropical Storm Irene formedin the northwest Caribbean Sea and cash prices saw this week’suphill climb get even steeper. Virtually all points were rising by15 cents or more, led by New England citygate (Tennessee Zone 6 andAlgonquin) upticks of around a quarter.

Schlumberger Ltd, one of the largest oil services companies inthe world, decided last week to spin off Sedco Forex Offshore, itsoffshore drilling company, and allow it to enter into a mergeragreement with Transocean Offshore Inc. for $3.2 billion in theresultant company’s stock. If approved by regulators, thecombination will form Transocean Sedco Forex, the largest offshoredrilling company in the world.

Schlumberger Ltd, one of the largest oil services companies inthe world, decided Monday to spin off Sedco Forex Offshore, itsoffshore drilling company, and allow it to enter into a mergeragreement with Transocean Offshore Inc. for $3.2 billion in theresultant company’s stock. If approved by regulators, thecombination will form Transocean Sedco Forex, the largest offshoredrilling company in the world.

In an effort grow its natural gas asset portfolio, Aquila Energy, UtiliCorp’s energy services subsidiary, recently formed a gas asset acquisition arm called Natural Gas Partners. The new entity was created to purchase storage facilities, pipelines and other properties as well as enter alliances, management deals and partnerships. The unit, which has not yet reached its full work force, is based in Kansas City, MO.

In an effort to diversify its energy services, Aquila Energy,Utilicorp’s energy services subsidiary, recently formed a gas assetacquisition arm called Natural Gas Partners. The new entity willpurchase storage facilities, pipelines and other properties as wellas enter alliances, management deals and partnerships. The unit,which has not yet reached its full work force, is based in KansasCity, MO.

Lomak Petroleum and Domain Energy completed their merger andformation of a new company called Range Resources, which will havea 1 Tcf reserve base and $1 billion in total assets. The reservesare 72% natural gas with daily production at 9,248 b/d of oil andliquids and 161 MMcf/d of gas.