Signed

When the Natural Gas Choice and Competition Act was signed by Gov. Tom Ridge last week, the foundation was laid for Pennsylvania’s gas customers to have gas supplier choice for the upcoming winter (See related story this issue). The question now is will other northeastern states follow Pennsylvania’s lead.

Pennsylvania Gov. Tom Ridge signed House Bill 1331 last Tuesday, deregulating many aspects of the states gas industry and paving the way for statewide customer choice to begin Nov. 1.

When the Natural Gas Choice and Competition Act was signed byGov. Tom Ridge earlier this week, the foundation was laid forPennsylvania’s gas customers to have gas supplier choice for theupcoming winter. The question now is will other northeastern statesfollow Pennsylvania’s lead.

Pennsylvania Gov. Tom Ridge signed House Bill 1331 Tuesday,deregulating many aspects of the state gas industry and paving theway for statewide customer choice to begin Nov. 1.

Texas Gov, George W. Bush Friday signed into law a bill torestructure the state’s $19 billion electric industry.

Gov. Bill Owens recently signed Colorado’s gas deregulationbill, SB99-153, opening the door for voluntary unbundling by thestate’s gas utilities. The question now is how many utilities willwalk through the opening?

Equitable Resources signed a definitive agreement to buyCarnegie Natural Gas Co., a gas utility and USX-Marathon Groupsubsidiary serving 9,000 residential, commercial and industrialcustomers in Pennsylvania and West Virginia, for an undisclosed sumlast Tuesday. The purchase increased Equitable’s natural gasthroughput 27% and increased its production in Appalachia 9%. Thecompanies hope to close the deal late this year or early next year.

Nevada Energy Inc. signed an offer to purchase from ConsolidatedBeacon Resources Ltd. two separate onshore exploration agreementscovering a combined total area of about 82,000 net hectaresnorthwest of Truro, Nova Scotia. Nevada will have a 75% workinginterest in 27,970 gross hectares and a 100% working interest in60,936 gross hectares and will be the operator. The agreementsrequire the operator to expend capital to fulfil the earningrequirements under the terms of the work programs as required bythe Nova Scotia Petroleum Directorate. Significant offshore gastests have been documented in the 5 MMcf/d range with establishedoil and gas production of 4 MMBoe realized at the onshore StoneyCreek Field within the same depositional basin about 78 milesnorthwest of the lands.

Equitable Resources signed a definitive agreement to buyCarnegie Natural Gas Co., a gas utility and USX-Marathon Groupsubsidiary serving 9,000 residential, commercial and industrialcustomers in Pennsylvania and West Virginia, for an undisclosed sumTuesday. The purchase increased Equitable’s natural gas throughput27% and increased its production in Appalachia 9%. The companieshope to close the deal late this year or early next year.