Integrated

Industry Brief

Greka Energy Corp., an international vertically integrated oil and gas producer, has completed a Miocene test of its Haspel & Davis #1 well in the Potash Field in Plaquemines Parish, LA to a total depth of 10,604 feet. The well, which was directionally drilled underneath a large salt overhang in inland waters, is expected to have initial production rates of 3 MMcf/d and 350 bbl/d by early September. Greka said the well has the potential to add up to $6.5 million in annual revenue within its Americas division; the company reported $8.5 million in worldwide revenue for the first six months of 2001. More than 360 feet of productive pay zones were encountered, of which almost 160 feet is expected to be gas and 200 feet to be oil.

August 24, 2001

CO PUC Mulls Changes to Utility Resource Planning Rules

As the Colorado Public Utilities Commission (PUC) considers whether to overhaul or eliminate its integrated resource planning (IRP) requirements for electric utilities in the state, the state commission is being urged to create a process that does not limit the resource options of utilities, while also allowing the PUC to continue its support of demand-side programs, among other things.

July 16, 2001

CO PUC Mulls Changes to Utility Resource Planning Rules

As the Colorado Public Utilities Commission (PUC) considers whether to overhaul or eliminate its integrated resource planning (IRP) requirements for electric utilities in the state, the state commission is being urged to create a process that does not limit the resource options of utilities, while also allowing the PUC to continue its support of demand-side programs, among other things.

July 11, 2001

Southwestern to Sell Gas Assets, Become Pure E&P

After operating more than half a century as an integratedbusiness, Southwestern Energy Co. has poised itself to become apure exploration and production company, a strategic move that willfocus the company’s assets on its drilling program in the Arkomaand Permian Basins and onshore Gulf Coast.

August 14, 2000

Cinergy Parts with Retail Marketing Subsidiary

Cinergy Corp., the Cincinnati, OH-based owner of Cincinnati Gas& Electric (CG&E), sold its nonregulated retail gasmarketing unit to an integrated energy services cooperative calledThe Energy Cooperative (TEC) for an undisclosed sum last week.Cinergy said it will not disclose the number of customers CinergyResources serves.

March 6, 2000

Sector Shift Drawing Investors From Energy

Those bemoaning the lackluster performance of integrated gas andutility stocks can blame their woes, at least in part, on theInternet and the technology revolution, according to one analyst.Prudential Securities’ Carol Coale said investors have beenshifting their attention, and their dollars, from the “old economy”to a new one. “Whether it’s Internet or high-tech, we’re seeing amajor sector shift,” she told NGI. Also to blame, Coale said in aPrudential research note, is bearish gas market sentiment.

December 27, 1999

Sector Shift Drawing Investors From Energy

Those bemoaning the lackluster performance of integrated gas andutility stocks can blame their woes, at least in part, on theInternet and the technology revolution, according to one analyst.Prudential Securities’ Carol Coale said investors have beenshifting their attention, and their dollars, from the “old economy”to a new one. “Whether it’s Internet or high-tech, we’re seeing amajor sector shift,” she told Daily GPI. Also to blame, Coale saidin a Prudential research note, is bearish gas market sentiment.

December 22, 1999

Pepco Grabs Energy Solutions Deal with MD Apartments

Pepco announced an agreement to provide a comprehensiveintegrated energy management system to Southern Management Corp., aVienna,VA-based owner and operator of over 25,000 apartment homesin the Washington D.C. and Baltimore areas. No financial terms ofthe deal were announced.

December 6, 1999

Duke Signs Asset Optimization Deal with the VA

DukeSolutions, the energy services subsidiary of Duke Energy,was awarded as contract by the Veterans Integrated Services Network6 (VISN-6) to provide energy efficiency products and services ateight Veterans Affairs Medical Centers in Virginia, West Virginiaand North Carolina.

September 27, 1999

Duke Signs Asset Optimization Deal with the VA

DukeSolutions, the energy services subsidiary of Duke Energy,was awarded as contract by the Veterans Integrated Services Network6 (VISN-6) to provide energy efficiency products and services ateight Veterans Affairs Medical Centers in Virginia, West Virginiaand North Carolina.

September 23, 1999