Purchase

Iowa-based Alliant Energy Corp.’s Wisconsin utility has closed a $400 million purchase of a 600 MW natural gas-fired generation plant in Beloit, WI, from Calpine Corp. The Riverside Energy Center LLC was owned and operated by Calpine, which sold the bulk of its output to Alliant’s Wisconsin Power and Light Co. (WPL). Since it began operations in 2004, the Riverside plant sold 500 MW to WPL. Calpine CEO Jack Fusco said the sale helps advance the strategic objectives of both his company and WPL. Calpine has 92 power plants operating or under construction, all of them gas-fired or renewable geothermal facilities.

Inergy Midstream LP announced Monday that it plans to purchase Rangeland Energy LLC — which owns and operates the Colt crude oil rail terminal, storage and pipeline facilities near Epping, ND, in the Bakken and Three Forks shale — in a cash and stock deal valued at $425 million.

Physical natural gas prices for weekend and Monday delivery overall fell on average 4 cents as traders expressed a reluctance to commit to a three-day purchase when other alternatives were available. Northeast and California points were especially hard hit. Futures prices took a dive as traders factored in little potential market disruption from Tropical Storm Isaac. September tumbled 10.0 cents to $2.702 and October shed 10.5 cents to $2.734. October crude oil skidded 12 cents to $96.15/bbl.

Continental Resources Inc.’s shareholders have approved the company’s purchase of Wheatland Oil Inc.’s core assets in the Bakken Shale, a stock deal valued at about $276 million.

The Mississippian Lime formation, which stretches across northern Oklahoma, western Kansas and southern Nebraska, is drawing increased industry interest, thanks to cheaper drilling costs and shallower wells compared to North Dakota’s Bakken Shale, according to the “IHS Herold Mississippian Oil Play Regional Play Assessment.”

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

The physical market for weekend and Monday gas overall fell on average by about 6 cents Friday as traders noted a typical reluctance to purchase weekend supplies amid mild weather forecasts and the weekend reductions of industrial load. Particular weakness was noted at eastern points where warm temperatures were forecast to give way to seasonal readings by Monday and southern California locations tumbled as positive imbalances were expected over the weekend. At the close of futures trading June had jumped 14.8 cents to $2.742 and July added 14.9 cents to $2.822. June crude oil continued its descent dropping $1.08 to $91.48/bbl.