Minneapolis-based NRG Energy Inc. is buying a 2,255 MW project portfolio from Indeck Energy Services Inc., which includes combined-cycle and peaking power plants serving the Chicago and upstate New York marketplace. The assets include the Rockford I and II Energy Centers, located 75 miles west of Chicago in Rockford, IL; Bourbonnais I and II Energy Centers, 50 miles south of Chicago; and the Ilion Energy Center in central upstate New York. No financial details were disclosed.
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NRG To Purchase 2,255 MW Project Portfolio
Minneapolis-based NRG Energy Inc. is buying a 2,255 MW project portfolio from Indeck Energy Services Inc., which includes combined-cycle and peaking power plants serving the Chicago and upstate New York marketplace. The assets include the Rockford I and II Energy Centers, located 75 miles west of Chicago in Rockford, IL; Bourbonnais I and II Energy Centers, 50 miles south of Chicago; and the Ilion Energy Center in central upstate New York. No financial details were disclosed.
Barrett’s Proved Reserves Up 21%
Denver-based Barrett Resources Corp. reports that its provedreserves are up 21% to 1,372 Bcfe as of Dec. 31, 2000. The totalincludes 1,323 Bcf of natural gas and 8.1 MM bbl of crude oil andcondensate, of which 42% is undeveloped. Gas reserves represent 96%of total proved reserves, which were 1,076 Bcf and 9.7 MM BBls atthe end of 2000.
KeySpan Proposes Credits and Rebates
KeySpan Energy Delivery, which includes Brooklyn Union Gas and anumber of other company affiliates, has reached a proposedagreement with New York officials aimed at restructuring the ratesand services for its natural gas customers in the state.
Reliant Files for Unregulated Unit’s IPO
Reliant Energy said its subsidiary Reliant Resources, Inc., whichincludes all of its unregulated energy operations, has filed aregistration statement with the Securities and Exchange Commission foran initial public offering of common stock. The IPO was announced inJuly as part of a corporate reorganization plan designed to separatethe company’s regulated and unregulated businesses into two publiclytraded companies (see Daily GPI, July28).
FGT Kicks Off Construction of Phase IV Project
Florida Gas Transmission has started construction on its PhaseIV expansion project, which includes a new pipeline to Fort Myersfrom Tampa. The project, initiating in Hillsboro and Lee Counties,FL, will provide 197 MMcf/d of incremental firm transportationservice on an annual basis and will extend FGT’s 4,700-mileexisting transmission system by 139 miles.
FGT Kicks Off Construction of Phase IV Project
Florida Gas Transmission has started construction on its PhaseIV expansion project, which includes a new pipeline to Fort Myersfrom Tampa. The project, initiating in Hillsboro and Lee Counties,FL, will provide 197 MMcf/d of incremental firm transportationservice on an annual basis and will extend FGT’s 4,700-mileexisting transmission system by 139 miles.
Industry Briefs
ScottishPower announced a transition plan for PacifiCorpyesterday that includes a workforce reduction of 1,600 PacifiCorpemployees over the next five years. By 2004, PacifiCorp is expectedto deliver annual cost savings from 1998 levels of $300 million inoperating expenses and $250 million in capital expenditures.Employee reductions will occur from all areas of the businessacross the company’s six-state service area. ScottishPower is aleading international multi-utility company with a marketcapitalization of about $16 billion and 7.5 million customersacross the U.K., western U.S. and Australia. Its merger withPortland, OR-based PacifiCorp was completed in November 1999.PacifiCorp currently serves 1.5 million customers in Oregon, Utah,Wyoming, Idaho, Washington and California.
Scana Pipe Project Includes Ethanol, Fiber Optics
Scana Corp. dusted off its Carolina’s interstate gas pipelineproject yesterday and added a new twist to the concept. It hassigned an agreement with DFI Group Inc., a Raleigh, NC, developer,to evaluate the feasibility of constructing three proposed ethanolproduction facilities in eastern North Carolina that would beserved by the pipeline. The proposed system also might be used todeliver gas to several new gas-fired power plants and could serveas a conduit for fiber optic cable. The proposed projects wereannounced yesterday by North Carolina Governor James Hunt andScana.
CMS Hands Title of Top Michigan Producer to Quicksilver
CMS Energy is handing over its title of largest independent oiland gas producer in Michigan to Quicksilver Resources, the companysaid yesterday. The sale includes all of CMS Energy’s gas and crudeoil exploration and production properties in Michigan, includingthe stock of Terra Energy Ltd., as well as other smaller interestsin Ohio, Kentucky, and Indiana. It covers more than 180,000 netleasehold acres producing 54 MMcfe/d from the Antrim Shale, as wellas from the Niagaran and Prairie du Chien formations. Estimatedreserves and the purchase price were not disclosed. The transactionis expected to close by the end of the first quarter.