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As additional firms emerged Monday on the growing list of companies receiving grand jury subpoenas last week from the U.S. Attorney’s Office in San Francisco for a widening federal probe, staff members of the state senate’s investigative committee looking at alleged manipulation of California energy markets said it will hold a hearing Nov. 18 to examine the role natural gas played in the state’s 2000-2001 power crisis.

What a difference a year makes. As if anyone wanted to be reminded, it was Oct. 16, 2001 when Enron Corp. released its third-quarter earnings, boasting of continued growth, despite a billion-dollar write-off. Within weeks, that incidental write-off that was barely discussed during a conference call with analysts by then-CEO Ken Lay, eventually would erase the entire company (see Daily GPI, Oct. 17, 2001). Fast forward to one year later, and despite its disappearance, Enron’s once mighty shadow continues to darken the marketplace.

Pengrowth Energy Trust of Calgary has agreed to acquire Calpine Corp.’s oil and gas holdings in British Columbia for US$248 million (C$387 million).

Williams on Friday announced it is considering selling its 6,000 mile-long Central interstate natural gas pipeline system in what it called “another definitive step toward strengthening its financial flexibility and developing a more tightly focused portfolio of energy businesses.” Earlier this year, Williams agreed to sell Kern River Gas Transmission and 1.47 million shares of convertible preferred stock to Berkshire Hathaway subsidiary MidAmerican Energy Holdings Co. (see NGI, March 11).

Adding to the list of energy trading companies that have seen a sizeable jump in business since Enron Corp. filed for bankruptcy earlier this month, Sequent Energy Management, the wholesale marketing and supply arm of Atlanta-based AGL Resources Inc., said that its business volumes have risen nearly 300% since the energy giant announced Chapter 11.

Joining a growing list of peers that already have abandoned the legally ensnared Arthur Andersen LLP, Dynegy Corp., Apache Corp., Occidental Petroleum Corp. and Tom Brown Inc. said last week that they were cutting ties with the auditing firm. The announcements by the companies came within days of Arthur Andersen pleading not guilty to obstruction of justice in a Houston court.

Add the U.S. Treasury to the long list of institutions launching investigations in the wake of Enron Corp.’s collapse. U.S. regulations that protect investors are being reviewed by the department, Treasury Secretary Paul O’Neill said Sunday. O’Neill, speaking on NBC’s “Meet the Press,” said “it is not clear whether the company fulfilled all of its obligations under the existing rules,” regarding rules that allowed Enron’s management to sell stock while its employees were barred from doing the same thing.

Kinder Morgan Energy Partners LP (KMP) added the massive eastern Texas pipeline system of Tejas Gas LLC to its shopping cart this Christmas. The company said it’s buying Tejas, a wholly owned subsidiary of InterGen (North America) Inc. — which is a joint venture of Royal Dutch Shell and Bechtel — for $750 million in cash, or “a little less than eight times the [annual] EBITDA of the system,” according to CEO Richard Kinder.

Kinder Morgan Energy Partners LP (KMP) added the massive eastern Texas pipeline system of Tejas Gas LLC to its shopping cart this Christmas. The company said it’s buying Tejas, a wholly owned subsidiary of InterGen (North America) Inc. — which is a joint venture of Royal Dutch Shell and Bechtel — for $750 million in cash, or “a little less than eight times the [annual] EBITDA of the system,” according to CEO Richard Kinder.