Northeastern

FERC last week gave its seal of approval to the $6.4 billionmarriage of two major northeastern utilities — Energy East Corp.,parent of New York State Electric & Gas (NYSEG), and CMP Group,parent of Central Maine Power — putting them clearly on the pathto becoming a major force in the Northeast energy market.

The Energy Information Administration (EIA) is conducting asurvey of local distribution companies (LDCs) in four northeasternstates to determine the extent that interruptible natural gascontracts influenced home heating oil prices this winter.

There’s a major oil and natural gas boom going on now in one ofthe most unlikely places in the United States – northeasternTennessee.

There’s a major oil and natural gas boom happening in one of themost unlikely places in the United States — northeasternTennessee.

With plans drawn up to focus mainly on power transmission anddistribution, New England Electric System (NEES) decided last weekthe time was ripe to start testing the market for its successfulretail energy marketing subsidiary, AllEnergy Marketing.

Planning to concentrate on power transmission and distribution,New England Electric System (NEES) said yesterday the time is ripeto test the market for AllEnergy Marketing. The company will lookat all strategic options, including a possible sale. AllEnergy isone of the largest retail energy marketing firms in the Northeast,currently selling gas, fuel oil, propane, and electricity to about125,000 customers.

Infinity Inc., the largest oilfield services company in easternKansas and northeastern Oklahoma, and an emerging independent oiland gas producer, acquired a 100% working interest in an additional4,775 acres in Wyoming’s Green River Basin. The new acreage isadjacent to the recently announced property acquired by Infinityand gives the company an interest in a total of 20,595 gross acres.

Northeastern Gas Caverns LLC, a New York company, has purchasedall the salt cavern drilling rights, licenses and equipment ownedby the bankrupt Avoca Natural Gas Storage Co. for $8 million,promising to revive the project, once highly touted as the firsthigh-deliverability salt cavern storage in the Northeast. NGC alsohas agreed to assume a portion of Avoca’s secured debt.

Northeastern Gas Caverns LLC, a New York company, has purchasedall the salt cavern drilling rights, licenses and equipment ownedby the bankrupt Avoca Natural Gas Storage Co. for $8 million,promising to revive the project, once highly touted as the firsthigh-deliverability salt cavern storage in the Northeast. NGC alsohas agreed to assume a portion of Avoca’s secured debt.