While three top Canadian producers move forward on tappingnatural gas reserves on the Mackenzie Delta and designing apipeline to bring it to market, the first step is being takentowards reopening drilling much farther north. For the first timesince the Prudhoe Bay discovery ignited an exploration rush on thetop of the world in the 1960s and ’70s, the vast Sverdrup Basin inthe Arctic Islands is being offered to gas hunters.
Picks
Articles from Picks
Cross Timbers Picks Up East Texas Properties
Independent Cross Timbers Oil Co. is punching up its explorationand production plans in East Texas, announcing an agreement topurchase some of Herd Producing Co.’s gas producing properties inEast Texas and Louisiana for $115 million. The deal includes 500potential drilling locations, with average gross reserve targets of3.5 (2.4 net) Bcf, holding a total resource potential of more than1.2 Tcf.
Cross Timbers Picks Up East Texas Properties
Independent Cross Timbers Oil Co. is punching up its explorationand production plans in East Texas, announcing an agreement topurchase some of Herd Producing Co.’s gas producing properties inEast Texas and Louisiana for $115 million. The deal includes 500potential drilling locations, with average gross reserve targets of3.5 (2.4 net) Bcf, holding a total resource potential of more than1.2 Tcf.
Deutsche Banc Picks Top 2001 Power Firms; Mergers to Continue
Citing a 34% average increase on year-to-date share priceswithin the U.S. electric power industry, Deutsche Banc Alex. Brownanalyst James Dobson initiated a watch of 18 generation and 15distribution companies in the firm’s U.S Electric Power Industryreport last week. The analyst and his associates also released alist of likely takeover candidates within the industry, and whichenergy companies’ subsidiaries are ripe for initial publicofferings (IPO) in 2001.
Deutsche Banc Picks Top Electric Firms
Citing a 34% average increase on year-to-date share priceswithin the U.S. electric power industry, Deutsche Banc Alex. Brownanalyst James Dobson initiated a watch of 18 generation and 15distribution companies in the firm’s U.S Electric Power Industryreport.
NRG Picks up 5,961 MW, Option on 3,000 More
NRG Energy Inc. plans to spend $658 million to acquire fourcombined cycle power projects with a total capacity of 5,961 MWfrom LS Power LLC, an independent power producer headquartered inEast Brunswick, NJ. The agreement also gives the Minneapolis-basedNRG the opportunity to acquire ownership in the next 3,000 MW ofgeneration offered by LS Power and its partners.
NRG Picks up 5,961 MW, Option on 3,000 More
NRG Energy Inc. plans to spend $658 million to acquire fourcombined cycle power projects with a total capacity of 5,961 MWfrom LS Power LLC, an independent power producer headquartered inEast Brunswick, NJ. The agreement also gives the Minneapolis-basedNRG the opportunity to acquire ownership in the next 3,000 MW ofgeneration offered by LS Power and its partners.
Enermetrix Picks Up First Regulated Customer
Internet commerce system Enermetrix picked up its firstregulated customer this week, when ValuSource Energy, a subsidiaryof Pennsylvania’s Duquesne Light Co., said it would use the networkto serve its business, government and industrial customers. TheEnermetrix system will give DLC’s customers the option to purchasetheir energy online through the Web-based network.
TransCanada Picks Up 5 Westcoast Cogeneration Plants
Calgary’s TransCanada Power LP, a unit of TransCanada Pipelines Ltd., last week said it was buying Westcoast Energy Inc.’s interest in five Canadian cogeneration plants in a deal valued at C$512 million. Westcoast, based in Vancouver, is expected to net C$75 million after taxes, and turn its attention toward its new power generation projects.
TransCanada Picks Up 5 Westcoast Cogeneration Plants
Calgary’s TransCanada Power LP, a unit of TransCanada Pipelines Ltd., is buying Westcoast Energy Inc.’s interest in five Canadian cogeneration plants in a deal valued at C$512 million. Westcoast, based in Vancouver, is expected to net C$75 million after taxes, and turn its attention toward its new power generation projects.