Terms

Dominion signed an agreement to sell 100% of its Dominion Telecom unit to a subsidiary of Elantic Networks Inc. Terms of the transaction were not disclosed. However, Dominion expects to take a loss of up to $30 million related to the sale, which is expected to close in the second quarter. The sale is subject to review or approval by the Federal Communications Commission and regulators in 11 states.

Ameren Corp. said that its Missouri-based utility company, AmerenUE, has come to terms with Kansas City, MO-based Aquila Inc. to acquire its gas distribution facilities located in east-central Missouri.

What a difference a month has made in terms of easing the fears about a natural gas supply shortage and escalating prices, according to the Energy Information Administration’s (EIA) short-term energy outlook for August.

What a difference a month has made in terms of easing the fears about a natural gas supply shortage and escalating prices, according to the Energy Information Administration’s (EIA) short-term energy outlook for August.

Tidelands Oil & Gas Corp. has completed the acquisition of 225 miles of large diameter Texas natural gas pipeline from ZG Gathering Ltd. Terms of the transaction including acquisition price were not disclosed. The pipeline travels through the Dimmit, Frio, Uvalde and Zavala counties of Texas. Tidelands said it plans to interconnect this new system to its existing systems, which will deliver natural gas to Tidelands proposed international pipeline crossing at Piedras Negras, Mexico.

Tidelands Oil & Gas Corp. has completed the acquisition of 225 miles of large diameter Texas natural gas pipeline from ZG Gathering Ltd. Terms of the transaction including acquisition price were not disclosed. The pipeline travels through the Dimmit, Frio, Uvalde and Zavala counties of Texas. Tidelands said it plans to interconnect this new system to its existing systems, which will deliver natural gas to Tidelands proposed international pipeline crossing at Piedras Negras, Mexico.

“Vast resources” of oil and natural gas may underlie sheets of salt on the outer continental shelf (OCS), the Minerals Management Service (MMS) said in announcing approval of a final rule providing an extension of time for companies who are exploring to locate these resources.

Two basis swap contracts based on NGI’s bidweek indexes atChicago and the Southern California border were among a number ofenergy products approved last week for listing on enymex, the NewYork Mercantile Exchange’s Internet-based trading system. Nymexexpects to launch the new system during the second quarter of 2001.

Conectiv sold the southern regional division of ConectivServices, which is located in southern Delaware and easternMaryland, to the unit’s employees. Terms of the sale were notdisclosed. The southern division provided new construction,replacement, service and maintenance of heating, cooling, andplumbing services for residential and commercial customers. Themove continues Conectiv’s previously announced plan to exitbusinesses it no longer considers strategic, and seek a partner forits telecommunications business, and focus on its core mid-meritand power delivery segments. Earlier this year, Conectiv announcedthe sale of the northern and mechanical divisions of ConectivServices and the sale of its Conectiv Thermal joint ventures inCalifornia and Nevada. Conectiv is focused on two core energybusinesses: Conectiv Power Delivery, which provides energy serviceto more than one million customers in New Jersey, Delaware,Maryland, and Virginia; and Conectiv Energy, which includes powertrading and a growing portfolio of “mid-merit” power plants.