Stock

Atmos Energy announced last week that it plans to spend about$33 million in stock to buy the remaining 55% share of WoodwardMarketing that it does not already own. The Houston-based marketersells about 125 Bcf/year of natural gas primarily to municipalitiesand industrial end-users in the Southeast and Gulf Coast regions.

Atmos Energy announced plans to buy the remaining 55% share ofWoodward Marketing that it does not already own. It plans to pay$33 million in stock for the Houston-based marketer.

AES Power Direct LLC, a retail electric provider, completed itspurchase of the entire stock of bankrupt marketer Titan Energy Inc.of Toronto for an estimated $6 million in cash last Thursday aftera bankruptcy judge in Georgia authorized the sale earlier in theweek.

Denver-based Forest Oil Corp. has agreed to purchase another independent producer, Forcenergy Inc., for $615 million in stock, a move that is expected to significantly boost the new company’s operations in the Gulf of Mexico, Alaska and Canada.

Denver-based Forest Oil Corp. has agreed to purchase anotherindependent producer, Forcenergy Inc., for $615 million in stock, amove that is expected to significantly boost the new company’soperations in the Gulf of Mexico, Alaska and Canada.

Atlanta’s natural gas utility holding company, AGL ResourcesInc., whose stock prices have fallen nearly 14% in the past year,said last week that cost cutting and more customers will pushthird-quarter profits ahead of analysts’ estimates. AGL wasexpected to earn 21 cents a share in the three months ending lastFriday (June 30), the average estimate of several analysts polledby First Call/Thomson Financial.

Atlanta’s natural gas utility holding company, AGL ResourcesInc., whose stock prices have fallen nearly 14% in the past year,said yesterday that cost cutting and more customers will pushthird-quarter profits ahead of analysts’ estimates. AGL wasexpected to earn 21 cents a share in the three months ending today,the average estimate of several analysts polled by FirstCall/Thomson Financial.

By agreeing last week to sell the stock of its retail marketingarm to Enron Energy Services Operations Inc. for $85 million,PG&E National Energy Group not only trimmed non-profitableassets from its portfolio, but perpetuated an industry-wide trendof major companies exiting the retail arena.

Quicksilver Resources Inc. last week completed a deal acquiring CMS Energy Corp.’s Michigan gas and oil exploration and production properties, including the stock of Terra Energy Ltd., as well as other smaller interests in Ohio, Kentucky, and Indiana. The deal was announced in January (see NGI Jan. 24).