Former energy giant Enron Corp.’s rapid fall from grace and descent into bankruptcy became the center of attention on Capitol Hill and elsewhere in Washington, DC, last week, as legislators and regulators warned of more Enron-like companies that were top-heavy in debt, calling for more transparent and frequent financial reporting by companies, simpler accounting rules, stepped-up oversight by the Securities and Exchange Commission (SEC) and legislative changes to protect employee pension plans. In short, they see Enron’s collapse as just the tip of the iceberg.
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Duke, Analysts Debate Electricity Shortage or Surplus
Due to the rapid growth of new generating capacity across the nation, Salomon Smith Barney analyst Raymond C. Niles said the country is currently “crossing the mountaintop” when it comes to electricity prices peaking. He warned that the third quarter 2001 will become the first full quarter of negative commodity comparisons.
August 20, 2001
Kinder Morgan Predicts Rapid Growth in 2001
Strong energy demand and numerous “fee-based” service transactions led to significant financial earnings growth for Kinder Morgan Inc. (KMI) and solid distribution growth for Kinder Morgan Energy Partners (KMP). CEO Richard D. Kinder forecasts 40% growth this year in earnings per share for KMI and raised the distribution targets set for KMP, which already hit its year-end distribution target in the first quarter.
April 23, 2001
Kinder Morgan Predicts Rapid Growth in 2001
Strong energy demand and numerous “fee-based” service transactions led to significant financial earnings growth for Kinder Morgan Inc. (KMI) and and solid distribution growth for Kinder Morgan Energy Partners (KMP). CEO Richard D. Kinder forecasts 40% growth this year in earnings per share for KMI and raised the distribution targets set for KMP, which already hit its year-end distribution target in the first quarter.
April 20, 2001
Pure Resources to Acquire Hallwood Energy for $268 M
Spring is not the only thing currently in the air, as merger and acquisition activity continues at the rapid pace set during 2000. Midland, TX-based Pure Resources Inc. and Denver, CO-based Hallwood Energy Corp. announced they have signed a definitive merger agreement in which subsidiary Pure Resources II will acquire all of the outstanding shares of Hallwood common stock at a price of $12.50/share.
April 9, 2001
Storage Injections Should Get Off to a Strong Start
Wall Street analysts continue to predict a rapid storage refill this summer and warn of the potential for a significantly bearish reaction in the market in the short-term. Analysts at Salomon Smith Barney (SSB) yesterday reiterated projections earlier in the week by Lehman Brothers that lower demand because of high prices will lead to sharply steeper storage injections this spring.
April 9, 2001
Falcon to Turn Hill-Lake into High-Deliverability Storage
Recognizing the need for more high-deliverability storage to support the rapid growth of gas-fired power generation in Texas, Falcon Gas Storage acquired a second storage facility in the state, with plans to increase cycling capabilities and connect the facility to the main Texas pipeline grid. The Hill-Lake natural gas storage facility is located about 100 miles west of Dallas/Fort Worth in Eastland County. Falcon purchased rights to the plant from TXU Lone Star Pipeline.
April 4, 2001
Pure Resources to Acquire Hallwood Energy for $268 M
Spring is not the only thing currently in the air, as merger andacquisition activity continues at the rapid pace set during 2000.Midland, TX-based Pure Resources Inc. and Denver, CO-based HallwoodEnergy Corp. announced they have signed a definitive mergeragreement in which subsidiary Pure Resources II will acquire all ofthe outstanding shares of Hallwood common stock at a price of$12.50/share.
April 2, 2001
FERC Probes Soaring Gas Prices
FERC Chairman James J. Hoecker has signaled that the Commissionis investigating the causes for the rapid escalation in natural gasprices in California and elsewhere in the nation.
December 12, 2000
Regulators Struggle to Keep Up with Powder River Growth
The rapid pace of development in the Powder River Basin ofWyoming and Montana has surprised everyone, and regulators arehaving a little trouble keeping up with the demands of productiongrowth. A period of regulatory catch-up could hinder short-termdevelopment and production growth, but observers believe thelong-term outlook on this prolific basin is extremely positive.
November 28, 2000
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