Stake

UtiliCorp United announced Monday that it has changed its corporate name to Aquila Inc., the energy trading and risk management subsidiary in which it sold an interest to the public in 2001 and then later re-acquired. The company’s common stock now trades on the New York, Pacific and Toronto stock exchanges under the symbol ILA, which has replaced the UtiliCorp symbol UCU.

Mirant said it has completed the sale of its 44.8% ownership stake in Bewag, a Berlin-based utility to the Vattenfall group for $1.63 billion. Mirant received more than $1 billion in net proceeds after repayment of $600 million in debt associated with its Bewag investment. “Consistent with our announced business plan, this sale is yet another step in strengthening Mirant’s balance sheet and improving its liquidity,” said CEO Marce Fuller. “Other asset sales continue to be pursued by Mirant.”

Central Canadian distributors have won the right to stake a claim on natural gas from offshore of Nova Scotia, after a hard-fought contest against production and transportation interests primarily bent on expanding deliveries to the United States.

Central Canadian distributors have won the right to stake a claim on natural gas from offshore of Nova Scotia, after a hard-fought contest against production and transportation interests primarily bent on expanding deliveries to the United States.

Infinity Inc. reported Friday that it has acquired leases on an additional 2,500 acres of coalbed methane (CBM) property in its Antelope project in Northwestern Colorado. During a conference call, the company also reported that it is generating additional revenues from the unexpected production of oil at one of the initial gas wells at its “Pipeline” project in Wyoming. The purchase price was not disclosed

Conoco subsidiary, Conoco Global Power (CGP) has tappedsubsidiaries of NRG Energy to help own and operate SRW CogenerationLP, and its holdings. NRG Energy purchased a 50% stake in thecompany at an undisclosed cost. Currently, the partnership owns,and will operate a $260 million power facility near Orange, TX, nowunder construction.

Conoco subsidiary, Conoco Global Power (CGP) is selling a 50%stake in SRW Cogeneration Ltd. Partnership to subsidiaries of NRGEnergy. Currently, the partnership owns, and will operate a $260million power facility near Orange, TX, now under construction.

El Paso Energy Corp. will sell its 35% stake in Oasis Pipe Line,a 1 Bcf/d line in Texas, according to a disclosure in a securitiesfiling made last week. El Paso said that the sale, which wasnegotiated in October, would result in a $20 million loss. The36-inch intrastate gas line runs 608 miles from the West Texas Wahamarket to the Katy hub outside of Houston. The pipeline provides alink between El Paso Natural Gas and Tennessee Gas Pipeline, and isthe principal route for Permian Basin supplies to access theHouston Ship Channel. Oasis completed a substantial upgrade in1998, installing 9,400 horsepower of compression, and newinterconnects to increase deliveries to eastern markets. DowHydrocarbons and Aquila Energy, a unit of Utilicorp United, alsoown stakes in the line. Along with its 35% ownership, Aquila alsohas firm transport rights on 280,000 Mcf/d. Before El Paso’s saleis complete, it still needs approvals from the Federal TradeCommission and the Texas Attorney General.

Kinder Morgan Energy Partners LP has picked up a 32.5% stake in the Cochin Pipeline System from NOVA Chemical Corp. The 1,900 mile, 12-inch pipeline operates in the Canadian sedimentary basin between Fort Saskatchewan, AL and Sarnia, ON, carrying high vapor pressure ethane, ethylene, propane, butane and natural gas liquids to the Midwestern U.S. and eastern Canadian markets.