Shares

A Michigan city pension fund that owns shares in NorthWestern Corp. last week filed a lawsuit in a South Dakota court, seeking to make a class action issue out of the utility company’s reluctance so far to accept public- or private-sector buyout offers. The City of Livonia Employees’ Retirement System filed the suit in a federal court.

Calpine shares lost more than half (71 cents) of their value on Tuesday after the company announced the departure of founder and CEO Peter Cartwright and CFO Robert D. Kelly.

Allegheny Energy shares were down more than 3% to $21.94 by 2:30 p.m. EDT Wednesday after a judge ruled that the company will have to pay $115 million plus interest to buy Merrill Lynch and Co.’s 2% equity stake in Allegheny Energy Supply Co., the generation and marketing unit that Allegheny bought from Merrill Lynch in 2001.

Cheniere Energy shares jumped 9% Thursday to $31.25 after the company said in a filing with the Securities and Exchange Commission that Chevron has elected to retain its capacity agreement for 700 MMcf/d of throughput at the proposed Sabine Pass LNG terminal in Louisiana. Chevron had an option to scale back its capacity at the terminal to 500 MMcf/d under a 20-year deal it signed with Cheniere last November.

Fort Lauderdale, FL-based Maverick Oil and Gas Inc. said last week that it has entered into an agreement to acquire 100% of the issued shares of Camden Resources Inc. — a Dallas-based private oil and gas producer — for $88 million in cash.

Fort Lauderdale, FL-based Maverick Oil and Gas Inc. said Monday that it has entered into an agreement to acquire 100% of the issued shares of Camden Resources Inc. — a Dallas-based private oil and gas producer — for $88 million in cash.

El Paso Corp. made a positive restatement of its 2002 financial results and adjusted its previously reported 2004 results on Monday after completing a review of the way in which it adopted several accounting standards in 2002 associated with investments in certain unconsolidated affiliates.

IntercontinentalExchange (ICE) filed a registration statement on Form S-1 with the Securities and Exchange Commission for an initial public offering of common stock. The shares of common stock to be sold in the offering are expected to be offered by IntercontinentalExchange and by existing ICE shareholders. The lead underwriters of the offering are Morgan Stanley and Goldman, Sachs & Co. When available, a preliminary prospectus relating to the proposed offering may be obtained from Morgan Stanley, 1585 Broadway, New York, NY, 10036, Attn: Prospectus Department, or from Goldman, Sachs & Co., 85 Broad Street, New York, NY, 10004, Attn: Prospectus Department. ICE operates a global electronic marketplace on the Internet for the trading of energy commodity futures and over the counter contracts. ICE conducts its markets for futures trading through its subsidiary, the International Petroleum Exchange (IPE).

Aquila Inc. shares rose nearly 3% Monday to $4.03 after the company announced an “accelerated repositioning” plan that will involve selling some utility assets in order to collect funds for an investment program designed to achieve 3-5%/year earnings growth and eventually return the company’s credit to investment grade status.