A pioneering firm in California’s ill-fated competitive retail electricity market, Costa Mesa, CA-based Commerce Energy Group Inc., hired an investment banking unit with the Royal Bank of Canada (RBC) earlier in September to assess the national energy retailer’s options for selling or partnering with another firm in the industry. A letter and subsequent financial filing by Commerce’s largest shareholder prompted the action.
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Commerce Energy Group Eyes Sale or Partner
A pioneering firm in California’s ill-fated competitive retail electricity market, Costa Mesa, CA-based Commerce Energy Group Inc. hired an investment banking unit with the Royal Bank of Canada (RBC) earlier in September to assess the national energy retailer’s options for selling or partnering with another firm in the industry. A letter and subsequent financial filing by Commerce’s largest shareholder prompted the action.
Montana Gov. Suggests Kangaroo Exit for Carpetbaggers
While the written order for the five-zip rejection last month by state regulators of an Australian investment firm’s bid for NorthWestern Energy has yet to be issued, Gov. Brian Schweitzer left no doubt as to its message, commenting to local reporters: “This is an order that says pack your bags and get on your kangaroo and ride out of here because you’re not going to be in Montana.”
Patriot Teams Up with Bill Barrett Corp. in Big Horn Basin
Investment fund Patriot Exploration Co. Inc. said Wednesday it will contribute $14.5 million to a joint gas development project in the Big Horn Basin of northwestern Wyoming with Denver-based Bill Barrett Corp. The partnership will cover drilling on more than 160,000 net and 217,000 gross acres in the basin, which the Potential Gas Committee estimates holds 3.14 Tcf of gas but is significantly underexplored.
Patriot Teams Up with Bill Barrett Corp. in Big Horn Basin
Investment fund Patriot Exploration Co. Inc. said Wednesday it will contribute $14.5 million to a joint gas development project in the Big Horn Basin of northwestern Wyoming with Denver-based Bill Barrett Corp. The partnership will cover drilling on more than 160,000 net and 217,000 gross acres in the basin, which the Potential Gas Committee estimates holds 3.14 Tcf of gas but is significantly underexplored.
EIA: Gas Pipeline Investment Plunged in 2005
Investment in the U.S. natural gas pipeline infrastructure plunged in 2005 over the year-earlier period, according to a new report released by the Energy Information Administration (EIA). In fact, the agency said fewer gas pipeline miles were built last year than in any year during the past decade.
EIA: Gas Pipeline Investment Plunged in 2005
Investment in the U.S. natural gas pipeline infrastructure plunged in 2005 over the year-earlier period, according to a new report released by the Energy Information Administration (EIA). In fact, the agency said fewer gas pipeline miles were built last year than in any year during the past decade.
S&P Issues Ranking of Energy Utilities, Power Companies
While generally the investment-grade utilities and power companies represent a majority of the latest annual rankings from Standard & Poor’s Ratings Services, vertically integrated utilities for the most part get average or below-average ratings on a 1-to-10 scale for their respective business profiles. S&P released the listing last Friday, noting that within one of five industry sub-sectors, the companies were ranked by their relative corporate credit rating and outlook, then by their relative credit strength within the same rating and outlook profile.
Merrill Settles Enron ‘MegaClaims’ Lawsuit for $29.5M
Merrill Lynch & Co. Inc. on Thursday agreed to pay Enron Corp.’s estate $29.5 million to settle its portion of a so-called “MegaClaims” lawsuit filed against 10 investment firms accused of failing to prevent the energy company’s bankruptcy.
NGI The Weekly Gas Market Report
Workers Smell Money in the Oil Patch Again
Demand drives prices up, which spurs investment, which creates more supply: barrels, Btus… and employees. The energy industry will find itself seriously short of a variety of skilled and professional employees for quite some time, but the supply response is ratcheting up in a number of ways.