Holdings

The shareholders of the NYMEX Holdings Inc., and the New YorkMercantile Exchange elected by a margin of 476 to 115 PioneerFutures owner Vincent Viola as the new chairman of the board.Gordon Rutledge, Madeline Boyd, Gary Rizzi, J. Robert Collins,Kenneth Garland, Robert Steele and Harley Lippman also were electedto the board. In addition, a resolution was passed to add threeequity holder representative positions to the board. An electionfor these positions will be scheduled shortly. Viola was vicechairman of the exchange from 1993 to 1996. Pioneer is currently aclearing member of both divisions of Nymex and the New York Boardof Trade. Viola also served on the exchange board in the at-largecategory from 1987 to 1990. He is a graduate of the U.S. MilitaryAcademy at West Point and the New York Law School. In 1988, heformed the First Bank Group, which operates community banks inDallas and the surrounding area. In 1998, he formed MVTechnologies, a developer of fully integrated electronic platformsfor trading futures, options, equities, and derivatives.

Aquila is beefing up is high deliverability gas storage holdingsin the Gulf Coast region in preparation for serving growinggas-fired power generation demand. The company bought rights to theproposed Houston Energy Center, a greenfield, natural gas saltcavern storage project being developed by SG Resources of Houston,Inc. The sale price was not disclosed.

Apache Corp. and its partner Shell Overseas Holdings Ltd. are expected to get the go ahead this week from the New Zealand High Court on whether to proceed with closing their acquisition of New Zealand-based Fletcher Challenge Energy. The partners won the overwhelming approval of Fletcher’s shareholders in a special meeting Tuesday, garnering 96% of the vote. In the deal, Houston-based Apache will acquire Fletcher’s Canadian and Argentina assets for about $630 million.

Apache Corp. and its partner Shell Overseas Holdings Ltd. expectto close on their acquisition of New Zealand-based FletcherChallenge Energy by the end of this month after winning theoverwhelming approval of Fletcher’s shareholders in a specialmeeting Tuesday. In the deal, Houston-based Apache will acquireFletcher’s Canadian and Argentina assets for about $630 million.

Alberta Energy Company (AEC) has pulled the Manchester GasStorage Facility in Oklahoma out of the legal quagmire surroundingthe Mountain Energy bankruptcy. AEC subsidiary Salt Plains StorageInc. purchased Manchester, which is located in Grant County, OK,for $42 million last month.

Alberta Energy Company (AEC) has pulled the Manchester GasStorage Facility in Oklahoma out of the legal quagmire surroundingthe Mountain Energy bankruptcy. AEC subsidiary Salt Plains StorageInc. purchased Manchester, which is located in Grant County, OK,for $42 million last month.

Conoco subsidiary, Conoco Global Power (CGP) has tappedsubsidiaries of NRG Energy to help own and operate SRW CogenerationLP, and its holdings. NRG Energy purchased a 50% stake in thecompany at an undisclosed cost. Currently, the partnership owns,and will operate a $260 million power facility near Orange, TX, nowunder construction.

Independent Energy Holdings PLC, an electric generating andelectric marketing company, has found itself the target of afederal class action lawsuit for stock fraud brought by thecompany’s shareholders, according to law firm Berman DeValerio& Pease LLP.

Columbia Energy Group has entered into an agreement with OrionPower Holdings of Baltimore, MD, to sell all of the outstandingshares of its subsidiary Columbia Electric Corp. for $200 millionin cash plus the assumption of project-related debt. Included inthe deal is 4,000 MW of capacity in construction and developmentphases.