Strengthen

Duke/Fluor Daniel (D/FD), a joint-venture partnership of FluorCorp. and Duke Energy, announced a management realignment andstrategic development to strengthen its engineering, procurementand construction (EPC) operations as well as its diverse operatingplant services (OPS), businesses. “With an increased need for powergeneration, the expansion and realignment of Duke/Fluor Daniel’smanagement team enhances the partnership’s ability to capitalize onthe tremendous growth of our EPC business,” said Alan Boeckmann,president of Fluor Corp. “Duke/Fluor Daniel has become a marketleader and, in 2000, was building about one out of every threemegawatts under construction in the United States. Three keyleaders in our team will focus on the same goal: excellence inexecution of every EPC contract.” Ron Barnes will lead projectoperations for a significant portion of business from Duke EnergyNorth America. Abe Fatemizadeh will focus on project operations forDuke/Fluor Daniel’s external clients. Chris Tye will manageDuke/Fluor Daniel’s global operations.

To strengthen its capital structure before an anticipated spinoff this year, Tulsa-based Williams Communications exchanged assetsfor shares of stock with its parent company Williams yesterday. Inthe agreement, Williams received 24.3 million common shares ofWilliams Communications, bringing its total ownership to 420million shares, or 86% of the outstanding stock. In return forequity, Williams Communications will purchase its outstandingpromissory note from Williams and acquire the 15-story,750,000-square-foot Williams Technology Center, scheduled forcompletion this summer adjacent to Williams’ headquarters in Tulsa.

CMS Energy Corp. announced it intends to implement a programthat will strengthen its balance sheet while maintaining itsforecasted earnings per share for 2001. The company also plans toretain the goal of a 10% per year growth rate thereafter.

CMS Energy Corp. announced it intends to implement a programthat will strengthen its balance sheet while maintaining itsforecasted earnings per share for 2001. The company also plans toretain the goal of a 10% per year growth rate thereafter.

In an effort to streamline its online trading process andstrengthen energy trading efficiency, HoustonStreet Exchange hasjoined the independent and not-for-profit Organizaton for theAdvancement of Structured Information Standards (OASIS). Theexchange says its decision to join marks the industry’s firstmaneuver to bring open standards to wholesale energy trading.

In an effort to streamline its online trading process andstrengthen energy trading efficiency, HoustonStreet Exchange hasjoined the independent and not-for-profit Organizaton for theAdvancement of Structured Information Standards (OASIS). Theexchange says its decision to join marks the industry’s firstmaneuver to bring open standards to wholesale energy trading.

Prices at most points increased yesterday as influences fromstorage plays and a rising futures screen overcame a lack ofseasonal cold weather in major market areas. In general, upticks ofa few cents were the most common in the West, Rockies, Gulf Coastand Midcontinent. The Northeast, however, continued the fall itstarted on Monday, as many points in the region lost anywhere fromabout a nickel to more than a dime.

A sample of energy industry experts attending the Dain RauscherWessels Energy Conference expects prices to strengthen toward theend of this year, only to give way to general price weakness in2000. Many of the 146 people polled at the conference said theyexpected gas prices to surge towards $3.10 before the end of thisyear, then fall to the $2.50 level in early next year. Overall, 800energy industry experts, company representatives, institutionalinvestors and securities analysts attended the four-day conference,which ended yesterday.

Semco Energy bought Iowa Pipelines Associates (IPA) for anundisclosed amount Monday, in the company’s initial move tostrengthen its gas construction services after exiting the gasmarketing business. IPA will continue to operate with its own name under the Semco Energy Ventures section of the company. Semco saidthe deal should close sometime this week. “By acquiring IowaPipeline Associates, we have expanded our capacity to providequality engineering and construction services for an ever-wideningcustomer base,” said William Johnson, Semco Energy’s CEO. Semcorevealed its strategy last month, when it sold its gas marketingassets to CoEnergy, an MCN affiliate, for an undisclosed amount.Johnson, said the sale allowed the company to concentrate onbecoming “one of the largest providers of underground engineeringand construction services in North America.” IPA builds undergroundnatural gas pipelines and local gas distribution networks forcustomers in Iowa, Kansas, Missouri, and Nebraska.