Swallowing

Gulf Canada Resources is expecting to more than double its dailygas production by swallowing rival Crestar Energy in aC$1.7-billion ($1.1-billion) friendly cash and stock transaction,excluding C$565 million in debt assumption. The combination willform a top-five Canadian independent production company with plentyof room to grow.

Gulf Canada Resources is expecting to more than double its daily gas production by swallowing rival Crestar Energy in a C$1.7-billion ($1.1-billion) friendly cash and stock transaction, excluding C$565 million in debt assumption. The combination will form a top-five Canadian independent production company with plenty of room to grow.

After swallowing two energy distributors in two months most observers expected Energy East to enter a digestion phase, but the company came back for a third helping last week. The parent company of New York State Electric and Gas (NYSEG) said it is adding CTG Resources, Inc., parent of Connecticut Natural Gas (CNG), to its plate, which already is loaded with CMP Energy and Connecticut Energy.

After swallowing two energy distributors in two months mostobservers expected Energy East to enter a digestion phase, but thecompany came back for a third helping yesterday. The parent companyof New York State Electric and Gas said it is adding CTG Resources,Inc., parent of Connecticut Natural Gas (CNG), to its plate, whichalready is loaded with CMP Energy and Connecticut Energy.