Shares

Shares of BP Amoco and Atlantic Richfield Co. (ARCO) rose lastFriday following press reports that the companies agreed to selloff all of ARCO’s Alaskan assets to avoid going to court with theFederal Trade Commission (FTC) over their proposed merger.

Shares of BP Amoco and Atlantic Richfield Co. (ARCO) rose lastFriday following press reports that the companies agreed to selloff all of ARCO’s Alaskan assets to avoid going to court with theFederal Trade Commission (FTC) over their proposed merger.

Dynegy Inc., which has teamed up with NRG Energy in westernstate power generation projects, has added a new connection,selling NRG a 50% interest in its Rocky Road Power Plant, a 250 MWnatural gas-fired, simple-cycle peaking facility in East Dundee,IL.

Dynegy Inc., which has teamed up with NRG Energy in westernstate power generation projects, has added a new connection,selling NRG a 50% interest in its Rocky Road Power Plant, a 250 MWnatural gas-fired, simple-cycle peaking facility in East Dundee,IL.

EnerMark Income Fund of Calgary offered to acquire all shares ofWestern Star Exploration Ltd. by way of a take-over bid. WesternStar assets are mainly producing gas properties concentrated in theHanna, Taber and Thornbury areas of Alberta. EnerMark’s estimate ofWestern Star’s proven reserves total 36,855 MMcf of gas and 147MBoe of crude oil and gas liquids. These reserve volumes includethe results of a successful 21-well gas development program atHanna Garden.

Houston-based Anadarko Petroleum Corp. announced a common stockoffering of 6.25 million shares. Proceeds of about $240.6 millionbefore expenses are to be used for general purposes, including U.S.gas and oil projects. The offering is Anadarko’s first since it wasspun off from Panhandle Eastern Pipe Line in 1986. Moody’sInvestors Service changed its rating outlook for Anadarko’s fixedincome securities to stable from negative based on increasingproduction, reserve replacement at reasonable finding costs, aswell as the common equity issuance. Anadarko has replaced more than200% of production for the past five years and in 1998 replacedmore than 500% of production at finding costs below most of theindustry, Moody’s said. The addition of mainly gas reserves lastyear lowered oil reserves to about 53% of the total.