Represented

Unconventional natural gas resources in North America and the Asia-Pacific region represented almost 40% of all of the global mergers and acquisitions (M&A) last year, according to an annual review of upstream transactions.

Wind energy was the second largest source of new power after natural gas in the United States last year, but it still only represented a tiny portion of the overall domestic power supply. Still, with carbon-based fuels perhaps becoming an “increasing problem,” executives with several top utilities last week said they expect their wind energy businesses to continue to grow, backed by growing support for the clean — and virtually infinite — renewable.

Hedge funds, or private investment funds, represented about 9.05% of natural gas futures trading volume in the first eight months of 2004 and 20.4% of gas futures open interest, but their market participation actually appeared to “dampen” price volatility rather than cause it or increase it, the New York Mercantile Exchange Inc. (Nymex) said Tuesday in a new 2004 Market Participants Study.

Williams reported first quarter 2000 earnings of $121.3 million,a 107% increase over the same period last year. The resultsrepresented income before the cumulative effect of a change inaccounting principle and were driven by record segment profit fromthe company’s energy business.

Friday represented the eye of the storm for Georgia’s gasindustry, as Atlanta Gas Light (AGL), the state’s largestdistributor, and Peachtree Natural Gas, the bankrupt supplier to177,000 gas customers, brokered an interim solution to theirproblems at a federal bankruptcy court hearing. The hearing was aresult of an earlier AGL filing with the bankruptcy court, seekingto distribute Peachtree’s customers to other, “more creditworthy”suppliers.

Friday represented the eye of the storm for Georgia’s gas industry,as Atlanta Gas Light (AGL), the state’s largest distributor, andPeachtree Natural Gas, the bankrupt supplier to 177,000 gas customers,brokered an interim solution to their problems at a federal bankruptcycourt hearing. The hearing was a result of an earlier AGL filing withthe court, seeking to distribute Peachtree’s customers to other, “morecreditworthy” suppliers (see Daily GPI, Oct29).