Omaha

Omaha, NE-based Tenaska Power Fund LP (TPF) and Houston-based eCORP LLC last week unveiled plans to develop a new high-performance natural gas storage facility near Uniontown in southwestern Pennsylvania. The facility, which will be developed by a jointly owned entity, Chestnut Ridge Storage LLC, will offer 17.5 Bcf of working gas capacity in its first phase of development.

Omaha, NE-based Tenaska Power Fund LP (TPF) and Houston-based eCORP LLC on Monday unveiled plans to develop a new high-performance natural gas storage facility near Uniontown in southwestern Pennsylvania. The facility, which will be developed by a jointly owned entity, Chestnut Ridge Storage LLC, will offer 17.5 Bcf of working gas capacity in its first phase of development.

Warren Buffett, the “Omaha Oracle” whose knack for investment risk has turned a mighty profit for believers, added another energy company to his hefty portfolio on Friday, as Buffett’s Berkshire Hathaway Inc. and Credit Suisse First Boston (CSFB) agreed to loan cash-poor CenterPoint Energy Inc. $1.31 billion. The three-year loan, which carries a 12.75% interest rate, ensures CenterPoint will make a Nov. 15 deadline to pay off a $400 million facility, and more important, allow it to maintain a $4.7 billion credit facility.

Warren Buffett, the “Omaha Oracle” whose knack for investment risk has turned a mighty profit for believers, added another energy company to his hefty portfolio on Friday, as Buffett’s Berkshire Hathaway Inc. and Credit Suisse First Boston (CSFB) agreed to loan cash-poor CenterPoint Energy Inc. $1.31 billion. The three-year loan, which carries a 12.75% interest rate, ensures CenterPoint will make a Nov. 15 deadline to pay off a $400 million facility, and more important, allow it to maintain a $4.7 billion credit facility.

The FERC Wednesday approved the acquisition of MidAmericanEnergy Holdings Co. by an investor group made up of Inc., Omahabusinessman Walter Scott, and David L. Sokol, MidAmerican CEO.MidAmerican filed with the Federal Energy Regulatory CommissionNov. 8. On Nov. 29, MidAmerican received early termination of thewaiting period under the Hart-Scott-Rodino Antitrust ImprovementAct after filing Nov. 12. The transaction is still subject toMidAmerican shareholder approval as well as clearance by the IowaUtilities Board, the Nuclear Regulatory Commission and the IllinoisCommerce Commission. Closing is expected in the first quarter.

Watertown Municipal Utilities chose Tenaska Marketing Venturesof Omaha, NB, to be its gas transportation and fuel manager for thenext five years. Watertown will buy about 8 Bcf of gas from Tenaskaover the contract term. The utility recently finished constructinga five-mile pipeline directly connecting it to Northern BorderPipeline. Previously, the utility moved gas on Northern Natural.Thecombined gas, electric and water utility serves about 20,000 innortheast South Dakota.

Aquila Energy, UtiliCorp United’s main energy marketing arm,announced Wednesday it is moving from Omaha, NE, to Kansas City,MO.. The company will bring 405 employees to occupy 70,000 squarefeet on three floors of the Town Pavilion in downtown K.C.