CMS Energy Corp. announced last Wednesday it has filed for an initial public offering (IPO) in the first quarter next year of up to 49% of stock in its exploration and production subsidiary, CMS Oil and Gas Co. The sale, in which CMS hopes to realize $400 million, is part of a “value enhancement” program announced last month aimed at strengthening its balance sheet.
Schedules
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CMS Schedules IPO for Oil & Gas Unit
CMS Energy Corp. announced last Wednesday it has filed for aninitial public offering (IPO) in the first quarter next year for upto 49% of the stock in its exploration and production subsidiary,CMS Oil and Gas Co. The sale, in which CMS hopes to realize $400million, is part of a “value enhancement” program announced lastmonth aimed at strengthening its balance sheet.
Transportation Notes
ANR notified interruptible storage customers under the DDS andMBS rate schedules that they will be limited to zero net injectionsduring the Sept. 1-Oct. 31 period. Injections will be allowed intoDDS/MBS accounts only if the customer withdraws an equal or greateramount of gas prior to Nov. 1.
FERC Schedules ‘Discussion Only’ for Northeast Pipes
The fate of the Millennium, Independence, SupplyLink andMarketLink pipeline expansion projects, which together representabout 1.7 Bcf/d of new pipeline capacity directed at northeasternmarkets from the Midwest, have been scheduled for discussion onlyat FERC’s next regular meeting March 10. That move has sparked aconsiderable degree of speculation among FERC observers andpipeline representatives.
California Schedules Slower Unbundling
The perception that there is no need to “rush” natural gasunbundling and customer choice has prevailed in Californiafollowing actions by the state legislature and energy regulators.That allows the major investor-owned gas utilities to prepare formore competition and gain more experience in wide-rangingsettlements that they negotiated with their major suppliers,shippers and marketers.