Plano

Despite posting record quarterly earnings during 3Q2008, Plano, TX-based Denbury Resources Inc. is following a number of its oil and gas producing peers in slashing its 2009 capital budget due to the bleak U.S. economic outlook. The company also noted that the troubling financial climate has made the planned unloading of its Barnett Shale assets more difficult than first expected.

Plano, TX-based Perot Systems Corp. said Thursday that it has turned over another 12 boxes of documents to state and federal investigators looking at the California energy crisis of 2000-2001. In total, Perot said it has spent $8.5 million in the second and third quarters, fulfilling requests for past data.

H. Ross Perot, the founder of Plano, TX-based Perot System Corp., will testify July 11 before the California state senate’s investigative committee looking at alleged energy market manipulation in the state’s 2000-2001 electricity crisis. Perot’s appearance is voluntary, but a state legislative committee staff member said there still may be subpoenas eventually directed at Perot and his firm. The center of the controversy is a PowerPoint presentation on “holes” in the state’s newly restructured electricity market that Perot Systems help set up in 1997-98 from an information systems perspective under contract to two state entities — the transmission grid operator, Cal-ISO, and the now bankrupt California Power Exchange (Cal-PX). As part of subpoenaed information from Houston-based Reliant Energy, a copy of the Perot Systems’ presentation came into the hands of investigators with the state senate Select Committee to Investigate Price Manipulation of the Wholesale Energy Market.