Ranger Oil Ltd.’s board of directors has announced that afteralmost three months of unacceptable bids, it is ready to make arecommendation to its shareholders to sell all of its outstandingshares to another Calgary-based producer. Canadian NaturalResources Ltd. made an offer that Ranger’s board of directors couldnot refuse.
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U.S., Mexican Firms Propose New Connection
Sempra Energy, PG&E Corp. and Proxima Gas SA de CV announcedMonday a three-way effort to build and operate a $230 million,212-mile natural gas pipeline to serve the rapidly growing energyloads in the southern end of California and the northern tip ofBaja along the U.S.-Mexico border. The principal target market isnew and existing electric generating plants and “otherenergy-intensive industries” in northern Baja, the sponsors said.
Kinder Selling Gathering to MDU
Houston-based Kinder Morgan Inc. has agreed to sell three naturalgas gathering systems for nearly $21 million to WBI Holdings Inc., thenatural gas pipeline unit of MDU Resources Group Inc. The gatheringsystems in Montana, Colorado, Kansas and Nebraska include operationsthat were discontinued for divestiture last September as part ofKinder’s “back to basics” restructuring program (see NGI, Sept. 20, 1999).
Kinder Selling Gathering Systems to MDU
Houston-based Kinder Morgan Inc. yesterday agreed to sell threenatural gas gathering systems for nearly $21 million to WBI HoldingsInc., the natural gas pipeline unit of MDU Resources Group Inc. Thegathering systems in Montana, Colorado, Kansas and Nebraska, includeoperations that were discontinued for divestiture last September aspart of Kinder’s “back to basics” restructuring program (see DailyGPI, Sept. 16, 1999).
NRG Makes Gains In First Week on NYSE
NRG Energy Inc. pulled off a respectable first three days on theNew York Stock Exchange, as the independent power subsidiary ofNorthern States Power saw its initial public offering (IPO) closewell above its set price of $15 when the markets closed lastFriday. NRG opened at $15.88 on Wednesday, and closed on Friday at$17 1/4 on a volume of 913,000 shares.
Reliant Continues Buying Spree Across Country
Three years ago, Reliant Energy was a Texas-based,Texas-centered utility, but that’s no longer true. On Friday, theHouston-based utility improved its presence in the mid-Atlanticregion, completing a $2.1 billion acquisition from Sithe Energiesof 21 power plants in Pennsylvania, New Jersey and Maryland (PJM).The facilities together total 4,276 MW of net generating capacity,and bring Reliant’s domestic generating capacity to 23 MMW.
Reliant Continues Buying Spree Across Country
Three years ago, Reliant Energy was a Texas-based,Texas-centered utility, but that’s no longer true. On Friday, theHouston-based utility improved its presence in the Mid-Atlanticregion, completing a $2.1 billion acquisition from Sithe Energiesof 21 power plants in Pennsylvania, New Jersey and Maryland (PJM).The facilities together total 4,276 MW of net generating capacityand bring Reliant’s domestic generating capacity to 23,000 MW.
Mitchell Energy Starts Infill Program
Encouraged by an initial production of nearly 4 MMcf/d — froma well which three months later is still going strong at more than3 MMcf/d – Mitchell Energy & Development has started up afull-fledged infill drilling program at its East Texas NorthPersonville field.
KN Gas Wins NE Agricultural Choice Program
KN Gas Services emerged as the market leader from thethree-month-long Agricultural Choice Gas Program in Nebraska, as itsigned 36% of the customers who participated in the program. Theresults of the pilot program were released last week by KN Energy.
KN Gas Wins NE Agricultural Choice Program
KN Gas Services emerged as the market leader from thethree-month-long Agricultural Choice Gas Program in Nebraska, as itsigned 36% of the customers who participated in the program. Theresults of the pilot program were released yesterday by KN Energy.