Prebon

Four major energy brokers, Amerex Energy, ICAP Energy, Prebon Energy and TFS Energy, have announced the launch of EnergyCurves LLC (ECL), to provide North American power and gas forward curve indicative data services to the energy markets. Logical Information Machines (LIM) will aggregate and distribute the EnergyCurves products.

Four major energy brokers, Amerex Energy, ICAP Energy, Prebon Energy and TFS Energy, have announced the launch of EnergyCurves LLC (ECL), to provide North American power and gas forward curve indicative data services to the energy markets. Logical Information Machines (LIM) will aggregate and distribute the EnergyCurves products.

Peoples Energy Production has purchased 10 Bcfe of proved undeveloped reserves an 10-20 Bcfe of potential additional reserves in East Texas from a private company for $9.5 million. The acquisition includes 5,300 gross acres in the heart of the Cotton Valley/Travis Peak gas trend. Initial development of the acquired reserves, 96% of which are natural gas, will begin in fiscal 2005 with anticipated capital spending on these properties of between $10 million and $15 million of the 2005 capital program, Peoples said. “The acquisition of these properties increases our inventory of low risk drilling opportunities and will help us to achieve our production growth target for fiscal 2005,” said Peoples Energy CEO Thomas M. Patrick. Steven W. Nance, president of Peoples Energy Production said the acquisition “builds on our successful entry into East Texas, a prolific producing province of longer life, low risk reserves, which was accomplished during fiscal 2004.”

Altra Energy Technologies Inc., Amerex Power Ltd. and PrebonEnergy Inc. announced the successful launch of Altrade Power, areal-time, online electronic power trading system, provided byAltra Streamline LLC. The launch represents the firstbusiness-to-business e-commerce site to unite new online tradingexchange technology with the strength and reach of the traditionalvoice broker market. Altrade Power went live on Oct. 14. More than210 installed users, out of 450 traders who have already requestedthe system, logged on to complete more than $24 million inwholesale power trades. “With the help of our alliance, traderswill ultimately have instant access to over 700 counterparties atmore than 150 of the industry’s leading trading firms,” saidAltra’s Mark Crosno. “Following the price spikes of 1998 and 1999,the wholesale power market is demanding enhanced tools for moreefficient deal execution. Traders told us they need a single focalpoint for getting their deals done, yet they do not want to give upthe services provided by their voice brokers. Through our alliance,we have answered the market’s demands,” said Amerex’s CareyTurnbull.