Partner

Carrying through on an earlier commitment to ramp up its Deep Panuke operations, PanCanadian Petroleum Ltd. has formed a partnership with Norwegian-based Ocean Rig ASA, which is expected to bring its deep-water drilling expertise to the Canadian East Coast. PanCanadian estimates that 1 Tcf of recoverable natural gas may be stored there at depths of more than 5,000 feet offshore Nova Scotia.

Dominion Resources Inc. yesterday announced that it is joining CME North American Merchant Energy as a partner in the proposed development of an electric generation facility near the village of Dundee in Monroe County, MI. If the 800 MW, natural gas-fired project is completed, it would represent an investment of more than $300 million in Monroe County. An executive with Dominion noted that the ultimate timeline for developing the facility and beginning commercial operations will be contingent on several studies that the new partnership will carry out before proceeding.

Apache Corp. and its partner Shell Overseas Holdings Ltd. are expected to get the go ahead this week from the New Zealand High Court on whether to proceed with closing their acquisition of New Zealand-based Fletcher Challenge Energy. The partners won the overwhelming approval of Fletcher’s shareholders in a special meeting Tuesday, garnering 96% of the vote. In the deal, Houston-based Apache will acquire Fletcher’s Canadian and Argentina assets for about $630 million.

Apache Corp. and its partner Shell Overseas Holdings Ltd. expectto close on their acquisition of New Zealand-based FletcherChallenge Energy by the end of this month after winning theoverwhelming approval of Fletcher’s shareholders in a specialmeeting Tuesday. In the deal, Houston-based Apache will acquireFletcher’s Canadian and Argentina assets for about $630 million.

Anadarko Petroleum Corp., which last week set in motion anaggressive Rocky Mountain strategy, said Friday it would investC$380 million ($260 million) in its Calgary-based Canadiansubsidiary to drill 600 wells throughout western Canada in a pushto bring production there to 74,000 net boe/d in 2001.

A joint venture by Southeastern based utilities Piedmont NaturalGas and Duke Power will use their overlapping service territoriesto find “opportunities to gain mutual efficiencies,” includingconsolidating and upgrading their meter reading programs andjointly negotiating for contractor services to enhance customerservice.

Avista-STEAG LLC and NRG Energy have entered into a partnershipin the hopes of adding 633 MW of power generation to Texas’ powerpool in 2003. The partnership will build, manage and operate thenatural gas-fired Brazos Valley project to be located in Fort BendCounty, TX, about 30 miles southwest of Houston.

Calgary-based Fort Chicago Energy Partners L.P. — which owns a 26% equity in the Alliance Pipeline project — said that its largest unit holder, Gendis Inc., will distribute 8.5 million units to shareholders by Nov. 24. Gendis, based in Winnepeg, will retain 6.2 million units of Fort Chicago following the transaction.

Calgary-based Fort Chicago Energy Partners L.P. — which owns a26% equity in the Alliance Pipeline project — said that itslargest unit holder, Gendis Inc., plans to distribute 8.5 millionunits to shareholders by Nov. 24. Gendis, based in Winnepeg, willretain 6.2 million units of Fort Chicago following the transaction.