Minded

There’s still gas in the Appalachian Basin, and that’s a fact that exploration-minded producers will be waking up to. At least that’s what those interested in developing New York state’s gas resource would like to believe.

Main Street AC Inc., a publicly tradable shell corporation that acquired 15 failing oil and gas partnerships and then reorganized under Chapter 11 of the Bankruptcy Code in January 2000, has tendered a cash offer for up to 4.9% of Aquila Inc., Dynegy Inc., Mirant Corp. and Reliant Resources Inc. at a 25% premium to their closing price Aug. 27.

Mexico’s reform-minded President Vicente Fox is proposing to open up the country’s state-controlled electricity sector to more private investment. The measure seeks to revise two constitutional amendments to allow private companies to invest in new generation.

George Mitchell, the philanthropic-minded CEO and majority stakeholder of The Woodlands, TX-based Mitchell Energy & Development Co., is putting 4.5 million of his company shares on the block to improve the company’s liquidity and reduce his ownership to under 50%. The secondary offering would leave the 82-year-old with 22.9 million shares — about 45.5% of the independent company he founded.

George Mitchell, the philanthropic-minded CEO and majority stakeholder of The Woodlands, TX-based Mitchell Energy & Development Co., said this week he is putting 4.5 million of his company shares on the block to improve the company’s liquidity and reduce his ownership to under 50%. The secondary offering would leave the 82-year-old with 22.9 million shares — about 45.5% of the independent company he founded.