Trail

Houston-based Ocean Energy Inc. continued on its acquisition trail last Monday, reporting it has entered into a definitive purchase and sale agreement with EnSight Resources L.L.C. to acquire all of EnSight’s oil and gas assets, located primarily in East Texas and North Louisiana. The companies said they expect the approximate $121 million transaction to close on or before April 20 with an effective date of Jan.1, 2001.

Houston-based Ocean Energy Inc. continued on its acquisitiontrail Monday, reporting it has entered into a definitive purchaseand sale agreement with EnSight Resources L.L.C. to acquire all ofEnSight’s oil and gas assets, located primarily in East Texas andNorth Louisiana.

Pennsylvania may have blazed the trail for state electricrestructuring, but it’s still floundering in the quagmire ofnatural gas unbundling. A legislative effort started last year byRep. Frank Tulli, Sen. Jeffrey E. Piccola and several other statelawmakers has stalled while stakeholders continue arguing overdetails in workgroups at the state Public Utility Commission andthe governor grapples with a tough decision over the potential lossof $120 million/year in gross receipts taxes.

If SCANA Energy’s Georgia marketing strategy works, gasmolecules will follow the trail blazed by electrons into the homesand businesses of customers soon to be granted supplier choice.SCANA Energy, a division of SCANA Energy Marketing, formed amarketing alliance with two electric utility companies servingparts of metropolitan Atlanta to market gas to residential andcommercial customers.

The Pennsylvania Public Utility Commission will go from being “awatchdog to a lapdog,” Commissioner John Hanger commented followingthe announcement the governor had chosen a staunch supporter ofPeco Energy, Chester, PA Mayor Aaron Wilson Jr. to replace Hanger.