Possible

Calgary-based Berkley Petroleum Corp. unanimously rejected the takeover bid last week by a Hunt Oil Co. subsidiary, which offered to purchase all of the common shares of the company for $10 per share. Analysts were meanwhile speculating that without a white knight, Berkley might be worth more if it’s broken up and sold.

Calgary-based Berkley Petroleum Corp. might be worth more if it’sbroken up and sold, according to analysts who are tracking the hostiletakeover bid by Hunt Oil Co. (see Daily GPI,Dec. 29, 2000). Dallas-based Hunt offered to buy Berkley in lateDecember for C$1.4 billion, including debt, or about C$10 a share incash for each Berkley share.

Northwest said it lifted a Declared Entitlement Period forovertakes Friday “at the earliest date possible to minimize theimpacts to its customers.” The entitlement had been in effect sinceearly October (see Daily GPI, Oct. 9,2000) and was modified at times since then. The pipeline addedthat “while the operational threat is currently under control,Northwest will continue to monitor the system for unfavorableconditions and will immediately entitle the system, includingweekends, if necessary.” Realignment and must-flow OFOs were canceledby Northwest earlier last week (see Daily GPI, Jan. 4).

Ending a record year for LNG imports, CMS Trunkline LNG Co.announced plans for a possible deliverability expansion at its LNGimport terminal in Lake Charles, LA. The company is conducting anopen season to offer firm, long-term LNG terminal services startingin January 2002.

Ending a record year for LNG imports, CMS Trunkline LNG Co.announced plans for a possible expansion of its LNG import terminalin Lake Charles, LA. The company is conducting an open season tooffer firm, long-term LNG terminal services starting in January2002.

Responding to persistent rumors over the Thanksgiving weekend ofa possible profit warning, Enron COO Jeffrey Skilling has deniedproblems with earnings for any of the myriad energy andcommunications businesses for North America’s largest buyer andseller of natural gas and electricity. Enron’s stock did fall lastweek, however, as did other energy stocks.

Responding to persistent rumors over the Thanksgiving weekend ofa possible profit warning, Enron COO Jeff Skilling last week deniedproblems with earnings for any of the myriad energy andcommunications businesses for North America’s largest buyer andseller of natural gas and electricity.

Pressured by a steady stream of local and fund selling, naturalgas futures slid lower yesterday amid an improving winter storageoutlook and continued mild temperatures across the nation. TheNovember contract took it squarely on the chin, dropping 25.2 centsto close at $4.82, almost a dollar below its Oct. 12 high.

Houston-based Dynegy Inc., setting itself up as possiblecompetition for its cross-town Houston marketer Enron, has launchedDynegydirect, a B2B trading site for energy and communicationscommodities, which will give customers self-service access to bidand offer prices across U.S. power, natural gas and natural gasliquids products. CEO Chuck Watson said the site would extend thecompany’s “global reach through customized electronic solutions.”