Months

After months of negotiations and two years of wrangling inCanadian courts, Pan-Alberta Gas Ltd. has been taken over by theproducers in its supply pool.

Just eight months after it merged with United Meridian Corp.,Ocean Energy Inc. agreed last week to merge with Seagull EnergyCorp. in a tax-free, stock-for-stock deal creating the 10th largestindependent U.S. oil and gas company based on a pro forma totalmarket equity capitalization of $1.8 billion.

After three months operating as MarketSpan Corp., the companyformed by the merger of Brooklyn Union Gas parent KeySpan Energyand Long Island Lighting and Power, has decided to change its nameto KeySpan Energy. CEO Robert B. Catell said the decision was madebecause of KeySpan’s superior name recognition in its serviceterritory. The company will trade on the New York Stock Exchangeunder the symbol KSE.

After three months operating as MarketSpan Corp., the companyformed by the merger of Brooklyn Union Gas parent KeySpan Energyand Long Island Lighting and Power, has decided to change its nameto KeySpan Energy. CEO Robert B. Catell said the decision was madebecause of KeySpan’s superior name recognition in its serviceterritory. The company will trade on the New York Stock Exchangeunder the symbol KSE.

Canadian approvals are expected to fall into place within thenext three months after the U.S. leg of the Alliance PipelineProject earned its environmental seal from FERC last week. “Thisputs us firmly on track,” Alliance spokesman Jay Godfrey said.FERC’s approval of the final environmental impact statement (FEIS)firmed up a schedule that – following a one-year delay due to aprolonged fight before Canada’s National Energy Board – calls forconstruction of the C$3.7-billion (US$2.6-billion), 1.3 Bcf/dpipeline to start next spring. That will be in time for completionand a start on deliveries in the fall of 2000, Godfrey said.

Mitchell Energy & Development has grown its gas reserves toan all-time high and increased combined oil and gas reserves bynearly 10% over the last six months by acquiring producingproperties in Limestone and Colorado counties in Texas.

Atlanta Gas Light Services, the retail marketing subsidiary ofGeorgia LDC Atlanta Gas Light, reached a compromise with retailmarketers and state regulators Wednesday, and agreed to change itsname to Georgia Natural Gas Services. The company will retain theuse of its flame logo, however.

Peace lasted less than two months in the Canadian natural gascommunity. Now comes the hard part of its April 8 agreement onpipeline regulation and competition – thrashing out what it meansin a contest over a small project with big implications.

The 35,000 MW of power generation that already has beenidentified to be sold in the next 18 months is not just a one-timefluke in the power market. It’s the beginning of a process thatwill continue for years to come, according to Siemans Corp.’s DavidL. Hartman, director of corporate development.