Princeton, NJ-based NRG Energy Inc. and Houston-based GenOn Energy Inc. said Friday that their respective shareholders have approved a proposed merger that has implications for the nation’s mix of natural gas- and coal-fired generation plants (see Daily GPI, Aug. 10). When completed, the NRG-GenOn combination would create the nation’s largest competitive electric generator with nearly 47,000 MW of capacity, spanning gas, coal, solar, nuclear and wind facilities. The merger still needs approvals from the Federal Energy Regulatory Commission and the New York Public Service Commission, among others. “An overwhelming shareholder vote” for the combination reflects the fact that the merger is a “win-win for everyone,” according to NRG CEO David Crane. GenOn CEO Edward Muller pointed to “substantial cost savings and efficiency benefits” from the merger.
Their
Articles from Their
Producer Has New Hope for Montana’s False Bakken
In Montana in a “forgotten corner of the Williston Basin,” a Texas company is gathering up acreage with the expectation that it can turn what some call the False Bakken into a true gem. And if that doesn’t work, northeast Montana has more to offer in and near the Bakken Petroleum System.
Tundra Energy, CN Plan Bakken Crude Oil Terminal
Tundra Energy Marketing Ltd. and CN, Canada’s national railway company, have signed a memorandum of understanding to build a crude oil car loading terminal in southwestern Manitoba, near the border with Saskatchewan, to serve Bakken oil producers in the two provinces, the companies said Thursday.
LNG Export Debate Ongoing in Australia
U.S. Department of Energy (DOE) staffers planning to go Down Under over the holidays to escape talk of liquefied natural gas (LNG) exports and their market impacts might want to reconsider. LNG and gas markets are a source of controversy in Australia, too.
GAO Calls on Energy Secretary to Get Cracking on Energy-Water Issues
Energy Secretary Steven Chu should cooperate with other federal agencies to address key issues confronting energy and water, such as hydraulic fracturing processes, according to a new government report.
Kinder ‘Thinking About’ Moving Permian Oil West on El Paso
With oil production booming in the Permian Basin of West Texas, projects are being developed to serve producers wanting to get their oil to Houston. But going west on a converted portion of Kinder Morgan’s El Paso Natural Gas (EPNG) system could one day be an option, too.
On the Other Side of the World: An LNG Export Debate
U.S. Department of Energy (DOE) staffers planning to go Down Under over the holidays to escape talk of liquefied natural gas (LNG) exports and their market impacts might want to reconsider. LNG and gas markets are a source of controversy in Australia, too.
Act 13 Case Comes Before Pennsylvania Supreme Court
Attorneys on both sides of the legal battle over Act 13, Pennsylvania’s omnibus Marcellus Shale law, spent two hours in a packed Pittsburgh courtroom Wednesday giving oral arguments before the state Supreme Court.
Wells Fargo: Cheap Gas, Deep Pockets Drive U.S. M&A
Majors and national oil companies (NOC) are about to go shopping again, and their most likely targets are companies such as Anadarko Petroleum Corp., EOG Resources Inc., Whiting Petroleum Corp., Kodiak Oil & Gas Corp. and Forest Oil Corp., Wells Fargo Securities analysts said in a note last week.
Here’s The SCOOP: Continental Uncovers New Play in Old Field
Continental Resources Inc. disclosed Tuesday that it has begun reworking a legacy shale play in south-central Oklahoma geographically similar to the Bakken, Marcellus and Eagle Ford shales that could add 1.8 million boe to its reserves in the next few years.
