Interest

Dominion has agreed to purchase 100% of the interest in Mirant State Line Ventures Inc. from Mirant for about $182 million. The company’s assets include the 515 MW coal-fired State Line power station located near Hammond, IN, which serves the Chicago area. Dominion also will assume the power purchase agreement with the sole purchaser, Exelon, whose agreement expires in 2012.

Following through on expressions of interest in recent weeks, San Diego, CA-based Sempra Energy’s trading unit announced Tuesday it has purchased London, UK-based Enron Metals Ltd. for $145 million, subject to a final audit of the net assets. The deal for the leading metals trader on the London Metals Exchange (LME) is expected to be completed Monday (Feb. 4, 2002), Sempra said.

Houston-based Gulf South Pipeline Co. LP, formerly Koch Gateway Pipeline, last week said the open season for the company’s proposed $1 billion Gulf Pines Pipeline was “extremely successful,” adding that response to the 1 Bcf/d line from the Southeast markets far exceeded the company’s expectations. The open season concluded on Sept. 19.

Houston-based Gulf South Pipeline Co. LP, formerly Koch Gateway Pipeline, on Wednesday said the open season for the company’s proposed $1 billion Gulf Pines Pipeline was “extremely successful,” adding that response to the 1 Bcf/d line from the Southeast markets far exceeded the company’s expectations. The open season concluded on Sept. 19.

One day after 19552 Yukon Inc. (Yukon) announced its interest in acquiring Calgary-based Command Drilling Corp. in a cash offer, Command CEO Robert S. Bruce reported that the company has reviewed what he calls an “inadequate” offer. Yukon, an affiliate of Houston-based Nabors Industries Inc., made an unsolicited cash offer of $3.30 per share to acquire Command on Monday (see Daily GPI, Sept. 18).

With a second merchant underground storage field set to open in the northern half of the state later this year and an existing one in the north proposing a sizable expansion, the push for at least one, if not two, new storage fields in Southern California has heated up this summer, according to industry observers.

Destin Pipeline is holding an open season through 1 p.m. CDT Aug. 30 to assess interest in expanded services. Recent offshore developments have indicated a potential need for extra capacity, Destin said. Currently it is capable of moving 1 Bcf/d.

With a second merchant underground storage field set to open in the northern half of the state later this year and an existing one in the north proposing a sizable expansion, the push for at least one, if not two, new storage fields in Southern California has heated up this summer, according to industry observers.

Several consumer groups in Montana, including the local chapter of the Public Interest Research Group (PIRG), want to pursue ballot initiatives that would call for the repeal of sections of the state’s deregulation law and a ratepayer rebate that would be funded by excess profits from generators.