The Oil & Gas Asset Clearinghouse, a provider of acquisition and divestiture services for oil and gas properties and prospects and a wholly owned subsidiary of Petroleum Place, said Wednesday that it sold over $27 million in properties at its hybrid auction held July 10 in Houston. The selective auction offered 850 oil and gas properties combined into 93 lots. According to the Clearinghouse, a new auction record of $378,000 was set for highest average price per lot.
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PG&E Retrenchment Nets Solid First Quarter
Having sold unprofitable Texas natural gas businesses and begunto dispose of its unprofitable energy services business, PG&ECorp. reported an 80% increase in first quarter results, comparedto the year-earlier period, earning $284 million, or 79cents-per-share. Its slimmed-down national energy group now focusedon merchant power generation and trading contributed 16cents-per-share to those results, said CEO Robert Glynn, Jr.
April 24, 2000
PG&E Retrenchment Nets Solid 1Q
Having sold unprofitable Texas natural gas businesses and begunto dispose of its unprofitable energy services business, PG&ECorp. reported an 80% increase in first quarter results, comparedto the year-earlier period, earning $284 million, or 79cents-per-share. Its slimmed-down national energy group now focusedon merchant power generation and trading contributed 16cents-per-share to those results, said CEO Robert Glynn, Jr.
April 24, 2000
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