Majority

Schlumberger Ltd. is acquiring a majority interest in ConvergentGroup Corp., a digital company offering companies Internetsolutions, for $276 million. The merger agreement, which givesSchlumberger 71.7% of Convergent, will result in a new entity,Convergent Holding Corp., and will give Schlumberger a stake in thegrowing global digital economy.

In an American Public Gas Association (APGA) report releasedlast week, a majority of Georgia residential customers gave gasderegulation in the state a failing mark, with many reporting thattheir bills actually increased or that there was no noticeableeffect. Half of the Georgia commercial customers polled also saidthey were paying higher bills, and gave deregulation a thumbs-downfor that reason.

In an American Public Gas Association (APGA) report releasedthis week, a majority of Georgia residential customers gave gasderegulation in the state a failing mark, with many reporting thattheir bills actually increased or that there was no noticeableeffect. Half of the Georgia commercial customers polled also saidthey were paying higher bills, and gave deregulation a thumbs-downfor that reason.

Prices continued to fall Tuesday, although by lesser amountsthan on Monday in most cases. The majority of Tuesday’s dropsranged from about a nickel to a little more than a dime, withisolated points such as the PG&E and Algonquin citygatesfalling by slightly more than 15 cents.

TXU of Dallas agreed to sell its majority interest in a MexicoCity gas distribution system to Gas Natural and Hidroelectrica delCantabrico for $68 million. Gas Natural will become operator whenthe deal closes, which is expected later this year.

Despite the arrival of another severe winter storm — this onein the Midcontinent — the majority of spot points leaned to thedownside Thursday.

Despite a trend toward milder weather in virtually all regions,the great majority of the swing market was seeing flat to slightlyhigher prices Wednesday. Considering the weather and little supportfrom a moderately higher Nymex screen, it must have been cash-outprices that kept late-December quotes from continuing to fall, onesource suggested.

Independent power company Calpine Corp. of San Jose, CA,completed its acquisition of 80% of Cogeneration Corp. of America’s(CGCA) common stock for about $146 million. The deal growsCalpine’s gas-fired power production by 20% to 2,476 net megawattsof capacity.

Independent power company Calpine Corp. of San Jose, CA,completed its acquisition of 80% Cogeneration Corp. of America’s(CGCA) common stock for about $146 million. The deal growsCalpine’s gas-fired power production by 20% to 2,476 net megawattsof capacity.