Reorganizing

The Pennsylvania Department of Environmental Protection (DEP) said Tuesday it is reorganizing, a move designed to assist regulators with a burgeoning workload from the state’s booming oil and gas industry in the Marcellus Shale.

In what its CEO pointed to as a model in reorganizing its predominantly natural gas-fired generation fleet, Calpine Corp. announced last Wednesday it has agreed to buy Pepco Holdings Inc.’s 4,490 MW independent Conectiv Energy power plant fleet for $1.65 billion in a deal that will make one of the nation’s largest independent power producers considerably larger and broader in market reach. At the same time, Calpine will increase its status as one of the nation’s largest wholesale gas consumers.

FERC announced Tuesday that it is reorganizing the Office of Market Oversight and Investigations (OMOI), which was established by former Chairman Pat Wood in 2002, into the Office of Enforcement, with four divisions — enforcement, audits, financial regulation and energy market oversight.

Calgary-based Esprit Exploration Ltd. is one step closer to reorganizing into an income trust and an exploration and production (E&P) company, and will hold a special shareholder meeting in late September to consider the arrangement. Esprit Energy Trust would hold 90% of Esprit’s existing proved producing reserves, while ProspEx Resources Ltd. would own the balance of the assets and some of the undeveloped lands. In order to become effective, a resolution approving the arrangement must be approved by at least two-thirds of the shareholders. It also will require final approval of the Court of Queen’s Bench of Alberta. If all conditions are satisfied or waived, Esprit, known until last year as Canadian 88 Energy Corp., expects the reorganization to take effect Oct 1. The shareholder meeting is scheduled for Sept. 27 at the Westin Hotel in Calgary.

Calgary-based Esprit Exploration Ltd. is one step closer to reorganizing into an income trust and an exploration and production (E&P) company, and will hold a special shareholder meeting in late September to consider the arrangement. Esprit Energy Trust would hold 90% of Esprit’s existing proved producing reserves, while ProspEx Resources Ltd. would own the balance of the assets and some of the undeveloped lands (see Daily GPI, July 23).

American Electric Power (AEP) last week said it is reorganizing its distribution and customer service operations into seven regional utility divisions, placing operational authority in the hands of division presidents and their support staffs.

American Electric Power (AEP) on Wednesday said that it is reorganizing its distribution and customer service operations into seven regional utility divisions, placing operational authority in the hands of division presidents and their support staffs.

Edison Mission Energy, the global independent power productionsubsidiary of Rosemead, CA-based Edison International, is quietlyretrenching and reorganizing its worldwide presence in a move thathas resulted in 100 workers being laid off.

Edison Mission Energy, the global independent power productionsubsidiary of Rosemead, CA-based Edison International, is quietlyretrenching and reorganizing its worldwide presence in a move thathas resulted in 100 workers being laid off.