Jose

Apparently not wanting to try to build an energy complex against the wishes of the local community, San Jose, CA-based Calpine Corp. announced late Wednesday it was dropping its plans for developing a liquefied natural gas (LNG) terminal and other facilities in the far northern end of California in Humboldt Bay. Calpine did not say so, but it is assumed the Eureka City Council turned down the energy developer’s request for an exclusive right to assess a site on part of a little used airport.

Leaving the so-called “race for LNG” to the sprinters in the southern part of the state, San Jose, CA-based Calpine Corp. indicated Monday it is willing to take its time, absent any strong competitive pressure, in siting a proposed import terminal in the northern half of California. The project also would include a power plant and transmission pipeline infrastructure.

Leaving the so-called “race for LNG” to the sprinters in the southern part of the state, San Jose, CA-based Calpine Corp. indicated Monday it is willing to take its time, absent any strong competitive pressure, in siting a proposed import terminal in the northern half of California. The project also would include a power plant and transmission pipeline infrastructure.

Despite some new-found attention in the financial news media, San Jose, CA-based Calpine Corp. is still only studying the feasibility of a California coastal liquefied natural gas (LNG) import terminal in the far northern end of the state.

In what is becoming a popular investment vehicle for its Canadian operations, San Jose, CA-based Calpine Corp. announced recently that it is pricing an initial sale of 18.4 million trust units at C$10/unit as part of a sale of the Calpine Natural Gas Trust (CNG Trust), which will acquire selected Calpine Canadian oil/gas properties. It is expected to close Wednesday and make its first cash distribution Dec. 15.

In what is becoming a popular investment vehicle for its Canadian operations, San Jose, CA-based Calpine Corp. announced Friday that it is pricing an initial sale of 18.4 million trust units at Cdn$10/unit as part of a sale of the Calpine Natural Gas Trust (CNG Trust), which will acquire selected Calpine Canadian oil/gas properties. It is expected to close Oct. 15, and make its first cash distribution Dec. 15, 2003.

While stressing it is on target in shoring up its liquidity and balance sheet, San Jose, CA-based Calpine Corp. Tuesday reported third quarter earnings that were less than half of what they were for the same quarter last year — 36 cents/diluted share, or $161.3 million in net income, compared to 88 cents/diluted share, or $320.8 million, for the same quarter in 2001.

San Jose, CA-based Calpine Corp. Wednesday said it completed its previously announced sale of oil and gas assets in British Columbia to Calgary-based Pengrowth Corp. for approximately US $243.7 million.

In an effort to strengthen its liquidity in these tumultuous times for the energy industry, San Jose, CA-based Calpine Corp. said Thursday that it has entered into an agreement to sell certain non-strategic oil and gas properties for $81 million (C$125 million). Calpine inked the deal with NAL Resources on behalf of NAL Oil & Gas Trust and another institutional investor.