World natural gas production leaders were again sounding the alarm over the creation of an OPEC-style natural gas organization, as energy emissaries of Russia, Iran and Qatar emerged from a meeting in Tehran last Tuesday saying they were working on the framework for a group of gas-exporting nations. But industry veterans are questioning what kind of an organization would evolve and how successful it would be.
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Gas OPEC a Paper Tiger
World natural gas production leaders were again sounding the alarm over the creation of an OPEC-style natural gas organization, as energy emissaries of Russia, Iran and Qatar emerged from a meeting in Tehran Tuesday saying they were working on the framework for a group of gas-exporting nations. But industry veterans are questioning what kind of an organization would evolve and how successful it would be.
Aquila’s IPO Sizzles on NYSE
Aquila Inc. made its initial public offering in grand style yesterday, becoming one of the hottest traded IPOs in a lackluster market, coming off the blocks at an opening price of $29.75 on the New York Stock Exchange — almost 25% above its offering price of $24. It was the third-most actively traded stock on the NYSE, with more than 7.8 million shares changing hands.
Aquila’s IPO Sizzles on NYSE
Aquila Inc. made its initial public offering in grand style last week, becoming one of the hottest traded IPOs in a lackluster market, coming off the blocks at an opening price of $29.75 on the New York Stock Exchange — almost 25% above its offering price of $24. The first-day offering raised about $430 million, and was the third-most actively traded stock on the NYSE Wednesday, with more than 7.8 million shares changing hands.
Judge Rules Against Producers in Royalty Cas
In a “Freddie Krueger-style” wipeout, a federal district courton Friday the 13th dealt a crippling blow to a major producergroup and two producers when it denied their motions dealing withroyalty treatment of take-or-pay settlement payments. U.S. DistrictCourt Judge Royce Lamberth upheld his earlier ruling that theIndependent Petroleum Association of America (IPAA) lackedjurisdiction in a lawsuit challenging the Interior Department’scollection of royalties on lump-sum payments made by producers toget out of their gas contracts with pipelines. The IPAA lawsuit ledto a 1996 ruling by the D.C. Circuit Court of Appeals in favor ofgas producers