Holdings

BP Amoco strengthened its position as North America’s No. 1 gasproducer through a $500 million deal to buy a significant part ofRepsol-YPF’s holding in Crescendo Resources, a major gas producerand processor in Texas and Oklahoma.

Orion Power Holdings Inc., jointly owned by affiliates ofGoldman, Sachs & Co. and Constellation Energy, bought theAstoria Generating Station, Gowanus Gas Turbine and Narrows GasTurbine facilities from Consolidated Edison Co. of New York forabout $550 million.

Orion Power Holdings Inc., jointly owned by affiliates ofGoldman, Sachs & Co. and Constellation Energy, bought theAstoria Generating Station, Gowanus Gas Turbine and Narrows GasTurbine facilities from Consolidated Edison Co. of New York forabout $550 million.

Adding to the lengthy and often heated controversy surrounding its contractual relationship with El Paso Natural Gas, Dynegy has signed a fourth contract with El Paso covering 196 MMcf/d of alternate firm backhaul capacity on the southwestern pipeline.

Illinova Energy Partners (IEP) purchased the Chicago holdings ofthe natural gas marketer Energy Dynamics Inc. last week, adding1,400 commercial and industrial customers to its Midwest base.Illinova also said the purchase will push its overall gas revenuesabove $100 million annually. Terms of the transaction were notdisclosed.

Illinova Energy Partners (IEP) purchased the Chicago holdings ofthe natural gas marketer Energy Dynamics Inc. yesterday, adding1,400 commercial and industrial customers to its Midwest base.Illinova also said the purchase will push its overall gas revenuesabove $100 million annually. Terms of the transaction were notdisclosed.

Williams’ exploration and production division increased the sizeof its gas reserve holdings by nearly 30% last week, buying 184Bcfe of proved reserves with 30 MMcf/d of production and 192,000undeveloped acres in the Rocky Mountain region from MCN Energy for$106 million. An additional 35 Bcfe of proved reserves in theRockies were sold by MCN to other unnamed buyers.

Williams’ exploration and production division increased the sizeof its gas reserve holdings by nearly 30% yesterday, buying 184Bcfe of proved reserves with 30 MMcf/d of production and 192,000undeveloped acres in the Rocky Mountain region from MCN Energy for$106 million. An additional 35 Bcfe of proved reserves in theRockies were sold by MCN to other unnamed buyers.

CalEnergy Co. and MidAmerican Energy Holdings Co. filed anapplication for review of proposal for reorganization with the IowaUtilities Board (IUB) in conjunction with their proposed merger.The merger agreement is also subject to approval by theshareholders of both companies, for which special meetings will becalled later this year. Completion of the merger is expected tooccur by the end of the first quarter of 1999.