NiSource Inc. yesterday unveiled the new organizationalstructure that will be in place when its $6 billion merger withColumbia Energy Group is completed, and noticeably absent from theroster was Columbia Chairman, CEO and President Oliver “Rick”Richard III who had fought tooth and nail to fend off NiSource’soverture.
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Northeast Prices Leave Gulf Points Far Behind
It may be time for all the critics of the proposed Independence,MarketLink and Millennium expansions to pipe down. Gasdeliverability to the Northeast clearly is not as rosy as manyindustry experts once thought as illustrated by the record high gasprices last week during a period of extreme cold.
Nickles’ Counsel Rumored as Bailey Successor
With the formal announcement last week that Commissioner VickyA. Bailey will leave the Federal Energy Regulatory Commissioneffective Feb. 1, rumors have been flying fast and furious as towho will be her successor. So far, only one name has surfaced —that of McLane Layton, staff counsel for Sen. Don Nickles (R-OK).
People
Consolidated Natural Gas announced that Ronald L. Adams, seniorvice president, regulated business, has decided to leave thecompany effective Sept. 1, triggering an interim managementrestructuring for local gas distribution, pipelines and storageuntil the previously announced merger with Dominion Resources iscompleted. As a result, the following personnel appointments havebeen made: Jimmy D. Staton, has been appointed senior vicepresident, distribution operations; Gary L. Sypolt, has beenappointed senior vice president, pipeline operations; Paul D.Koonce, has been named senior vice president, commercialoperations; and William A. Fox has been named senior vicepresident, Virginia gas distribution.
CPUC’s Hands are Tied on Restructuring Issues
The California Public Utility Commission yesterday decided toleave Southern California Gas Co.’s interstate transportation ratesbundled, determining that a state law passed last summer preventsthe commission from taking any action on gas industry restructuringissues until the year 2000.
Opposing Fundamentals Leave Futures Nearly Unchanged
Trading at Nymex yesterday continued in the choppy, range-boundmanor that has plagued the market for most of November. Againtraders lamented the lack of a clear direction or price trend inthe futures pit. The December contract was held to a tight, 6-centtrading range and settled at $2.394 after never fully recoveringfrom a lower opening.
Maher Retiring From Washington Gas
Patrick J. Maher, chairman of Washington Gas Light, will retireeffective March 1. He will begin his leave pending retirement onDec. 1. Maher joined the company in 1974 as vice president andchief financial officer, and subsequently held the positions ofexecutive vice president of finance and administration, president,and chief executive officer. He has been a member of the board ofdirectors since 1988 and became chairman in 1992.
Maher Retiring From Washington Gas Light
Patrick J. Maher, chairman of Washington Gas Light, will retireeffective March 1. He will begin his leave pending retirement onDec. 1. Maher joined the company in 1974 as vice president andchief financial officer, and subsequently held the positions ofexecutive vice president of finance and administration, president,and chief executive officer. He has been a member of the board ofdirectors since 1988 and became chairman in 1992.
Offshore Evacuations Start, But Prices a Bit Softer
Crews were already starting to leave platforms Thursday in theMobile Bay area, but it was hard to tell from cash priceperformances, which ranged from flat to down about a nickel.Perhaps that was because virtually no shut-ins are occurring yet, aTexas trader suggested.
Gerber to Leave Coral, Become Equitable CEO
After searching for a leader to take the helm at EquitableResources for nearly a year, the company’s board of directorsannounced yesterday it has appointed Coral Energy CEO Murry S.Gerber, 45. Gerber will assume his position as president and chiefexecutive officer of Equitable on June 1. Gerber also will serve asa director on the company’s board.