Michigan

Private equity fund Carlyle/Riverstone Global Energy & Power Fund II LP and partner Capital C Energy LLC are buying Michigan and Appalachian basin gas and oil producer Belden & Blake for an undisclosed amount. Canton, OH-based Belden & Blake is one of the oldest producers in the Appalachian region and currently has about 360 Bcfe of proved reserves.

Private equity fund Carlyle/Riverstone Global Energy & Power Fund II LP and partner Capital C Energy LLC are buying Michigan and Appalachian basin gas and oil producer Belden & Blake for an undisclosed amount. Canton, OH-based Belden & Blake is one of the oldest producers in the Appalachian region and currently has about 360 Bcfe of proved reserves.

Rep. John Conyers of Michigan, the ranking Democrat on the House Judiciary Committee, has called on U.S. Attorney General John Ashcroft to appoint a special counsel to investigate allegations that Westar Energy Inc. made contributions to political groups linked with four prominent House Republicans last year in return for legislative favors, as well as donations to Ashcroft.

Rep. John Conyers of Michigan, the ranking Democrat on the House Judiciary Committee, has called on U.S. Attorney General John Ashcroft to appoint a special counsel to investigate allegations that Westar Energy Inc. made contributions to political groups linked with four prominent House Republicans last year in return for legislative favors, as well as donations to Ashcroft.

Thirty-four parcels of Federal land in Alabama, Arkansas, Kentucky, Louisiana, Michigan and Mississippi brought $101,037 to the U.S. Treasury through a competitive auction of oil and gas leases conducted by the U.S. Department of the Interior’s Bureau of Land Management (BLM) on July 11, in Springfield, VA. Bonus bids, filing fees, and rental revenue totaled $322,064, of which $221,027 will be shared with the six states. BLM, Eastern States administers the mineral estate in 31 states east of and adjoining the Mississippi River and offers selected parcels at quarterly competitive auctions. Regulations require the bidding to open at $2 per acre minimum. Seeco, Inc. from Fayetteville, Arkansas purchased a 2,449 acre parcel in Logan County, AR with their bid of $67 per acre — the highest per-acre bid of the auction. Leases are awarded for a term of 10 years and as long thereafter there is production in paying quantities. The Federal Government receives a 12.5% royalty on the value of the amount of production. Also, each respective State Government receives a 25% minimum share of the bonus bids and the royalty from each lease. Twenty-nine parcels remained available for noncompetitive, next-day filing.

Thirty-four parcels of Federal land in Alabama, Arkansas, Kentucky, Louisiana, Michigan and Mississippi brought $101,037 to the U.S. Treasury through a competitive auction of oil and gas leases conducted by the U.S. Department of the Interior’s Bureau of Land Management (BLM) on July 11, in Springfield, VA. Bonus bids, filing fees, and rental revenue totaled $322,064, of which $221,027 will be shared with the six states. BLM, Eastern States administers the mineral estate in 31 states east of and adjoining the Mississippi River and offers selected parcels at quarterly competitive auctions. Regulations require the bidding to open at $2 per acre minimum. Seeco, Inc. from Fayetteville, Arkansas purchased a 2,449 acre parcel in Logan County, AR with their bid of $67 per acre — the highest per-acre bid of the auction. Leases are awarded for a term of 10 years and as long thereafter there is production in paying quantities. The Federal Government receives a 12.5% royalty on the value of the amount of production. Also, each respective State Government receives a 25% minimum share of the bonus bids and the royalty from each lease. Twenty-nine parcels remained available for noncompetitive, next-day filing.

Michigan Rep. John Dingell (D), ranking member of the House Committee on Energy and Commerce, has called for an investigation of Enron Corp.’s accounting firm Arthur Andersen LLP, regarding the audits it performed at Enron as well as Waste Management Inc. Dingell sent a letter on Monday to the Public Oversight Board.

The Senate over the weekend confirmed by a voice vote SpencerAbraham, a former senator from Michigan, as the secretary of theDepartment of Energy (DOE).

The Michigan Public Service Commission has approved orders forDearborn, MI-based CMS Energy Corp. that authorize securitizationof $469 million in stranded electric utility costs, expand the gascustomer choice program and authorize accounting changes tomitigate future increases in the cost of natural gas.