Snagged

The past came back to haunt Houston-based EOG Resources Inc. in the fourth quarter, after it was snagged with a $19.2 million charge related to former parent Enron Corp. EOG reported a net loss of $27.6 million, or 24 cents a share, compared with net income of $158.7 million, or $1.33 a share, for the fourth quarter of 2000. The charges related just to Enron cost EOG 11 cents a share, estimated at $12.3 million after taxes.

Dallas-based Hunt Oil Co. snagged another gas-rich Canadian property last week by reaching an all-cash deal to acquire Edmonton-based Chieftain International Inc. With the unanimous support of both boards, Hunt will pay $29 per share, making the deal worth $600 million (C$915 million). Hunt also will assume about $15 million in debt.

Dallas-based Hunt Oil Co. snagged another gas-rich Canadian property on Tuesday by reaching an all-cash deal to acquire Edmonton-based Chieftain International Inc. With the unanimous support of both boards, Hunt will pay $29 per share, making the deal worth $600 million (C$915 million). Hunt also will assume about $15 million in debt.

Williams Gas Pipeline snagged Duke Energy’s 9.8% stake in theAlliance Pipeline partnership last week, bringing its totalinterest in Alliance to 14.6%. Transaction details, including shareand unit prices, were not disclosed.

Williams Gas Pipeline snagged Duke Energy’s 9.8% stake in theAlliance Pipeline partnership yesterday. The transaction bringsWilliams’ total interest in Alliance to 14.6%. Transaction details,including share and unit prices, were not disclosed.

Allegheny Power Supply, Greensburg, PA, the unregulatedaffiliate of Allegheny Energy, an electric utility holding company,has snagged the largest power contract so far in New Jersey’sunbundling market. The power supplier signed to deliver 360 MW overthe next 14 months to 64 industrial users aggregated by theChemical Industry Council (CIC) of New Jersey.