Lehman Brothers Merchant Banking is taking a one-third interest in Houston-based energy marketer Eagle Energy Partners. When the deal is complete Lehman, producer Chesapeake Energy, and Eagle management each will own one-third of the company.
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Excelerate Adding Optionality to Energy Bridge
While the global liquefied natural gas (LNG) infrastructure is being built on the back of long-term contracts, Excelerate Energy LP has begun to see its merchant model bear fruit as cargo fungibility and an LNG spot market continue to develop.
Calpine Interest In LNG Development Unwavering, Spokesman Says
Despite the deluge of financial and legal pressures clouding Calpine Corp.’s future, the nation’s largest merchant electric generation plant operator is still actively pursuing the development of a liquefied natural gas (LNG) receiving terminal in Oregon at the mouth of the Columbia River along the Pacific Coast, according to a Calpine spokesperson who was interviewed Monday by Daily GPI.
Energy Retailer’s Board Removes CEO, CFO in Shake-Up
One of the nation’s largest merchant energy marketers, recently renamed and publicly held Commerce Energy Group, Inc., Monday named a new CEO with an extensive energy background, Steven S. Boss. He will bring along a new chief financial officer following last week’s removal of the president/CEO and CFO at the Southern California-based firm.
Financial Services, Majors Predicted to Dominate Energy Merchant Trading
Energy merchant markets are predicted to grow 30% between 2002 and 2006, with oil and natural gas majors and financial service firms dominating the market, while asset-based traders — particularly in power — reengage, according to a report by Massachusetts-based Energy Insights. On the horizon, the study predicted there will be even more participation by financial institutions between 2008 and 2010.
Calpine CEO Predicts Continued E&P Expansion
Calpine CEO Peter Cartwright said last week that the merchant power company has become the nation’s single largest gas consumer and remains on the lookout for additional gas producing properties to support its growing fleet of power plants.
Calpine CEO Predicts Continued E&P Expansion
Calpine CEO Peter Cartwright said Wednesday the merchant power company has become the nation’s single largest gas consumer and remains on the lookout for additional gas producing properties to support its growing fleet of power plants.
Dynegy CEO Expects Consolidation in the Merchant, Power Sectors
Dynegy CEO Bruce A. Williamson said at the company’s annual meeting Thursday that while it has spent the last couple of years putting assets on the auction block, it may spend the next couple on the lookout for merger and acquisition opportunities, particularly in the power generation business.
Dynegy CEO Expects Consolidation in the Merchant, Power Sectors
Dynegy CEO Bruce A. Williamson said at the company’s annual meeting Thursday that while it has spent the last couple of years putting assets on the auction block, it may spend the next couple on the lookout for merger and acquisition opportunities, particularly in the power generation business.
El Paso Unloads Domestic Power Portfolio to Equity Funds for $920M
El Paso Energy Merchant domestic power portfolio is down to nearly nothing, after the company announced Friday its plans to sell 25 of its U.S. generation facilities to Northern Star Generation LLC for $746 million and the assumption of $174 million of debt. The El Paso Corp. facilities are located in seven states and have a net capacity of 1,850 MW.