Itself

Calgary-based independent producer Pinnacle Energy Corp. is diversifying its interests and recasting itself as a land management company with significant interests in coal. It will continue to exploit its oil and gas properties, the company said. Pinnacle is working to acquire control of “significant” coal reserves in Montana and Utah along with assets and personnel to aid in land management and coal marketing. The company has producing oil and gas wells in Pawnee County, OK, and is planning to drill four wells in the Glencoe Prospect during the second quarter. “We believe that the available properties we’ve identified could potentially bring Pinnacle additional enterprise value within the next few years. Negotiations for the potential coal reserves are moving forward rapidly, and we are planning an announcement immediately upon successful closing of the transaction,” said President Nolan Weir.

The Government Accountability Office (GAO) has expressed concern that the Department of Energy (DOE) may be conducting research and development (R&D) in oil and natural gas that the industry itself should be funding, without government help.

The Government Accountability Office (GAO) has expressed concern that the Department of Energy (DOE) may be conducting research and development (R&D) in oil and natural gas that the industry itself should be funding, without government help.

With its acquisition by Berkshire Hathaway’s MidAmerican Energy Holdings working its way through the regulatory process and plans to divest itself of its upstream gas assets and international coal and freight businesses already announced, Constellation Energy said Thursday it also intends to sell its Houston-based downstream gas trading operations.

With its acquisition by Berkshire Hathaway’s MidAmerican Energy Holdings working its way through the regulatory process and plans to divest itself of its upstream gas assets and international coal and freight businesses already announced, Constellation Energy said Thursday it also intends to sell its Houston-based downstream gas trading operations.

A pioneering firm in California’s ill-fated competitive retail electricity market, Costa Mesa, CA-based Commerce Energy Group Inc., finds itself mired in a sea of red ink as it compiles its fiscal 2008 results, selling off a Houston-based energy consulting firm it acquired four years ago after announcing earlier this year that it was cutting about one-third of its work force.

After the House redeemed itself in the eyes of many critics Friday by passing a revised $800 billion-plus package to rescue the financial and credits markets and extend tax credits for renewable energy and energy efficiency, as well as other expiring or expired corporate and personal tax credits, the bill was quickly signed into law by President Bush.

After the House redeemed itself in the eyes of many critics Friday by passing a revised $800 billion-plus package to rescue the financial and credits markets and extend tax credits for renewable energy and energy efficiency, as well as other expiring or expired corporate and personal tax credits, the bill was quickly signed into law by President Bush.

A British Columbia (BC) proposal for a northern Pacific liquefied natural gas (LNG) terminal has converted itself into an export project, highlighting a 180-degree turn seen ahead for supplies when Canadian producers catch up to Americans in applying new technology.