Transactions

Credit Suisse Group Inc. agreed to pay Enron Corp. creditors $61.5 million to settle a lawsuit related to equity transactions. The settlement resolves all bankruptcy proceedings involving Credit Suisse.

At the start of Wednesday’s gas day MRT will lift the System Protection Warning placed into effect Nov. 23.

The Minerals Management Service (MMS) recently determined that natural gas sales transactions between Chevron Corp. and Dynegy Inc. were “arm’s-length” and therefore not subject to collection of additional royalties as if they were “nonarm’s-length,” as the MMS had previously maintained.

The Minerals Management Service (MMS) recently determined that natural gas sales transactions between Chevron Corp. and Dynegy Inc. were “arm’s-length” and therefore not subject to collection of additional royalties as if they were “nonarm’s-length,” as the MMS had previously maintained.

In a story in Daily GPI’s Tuesday edition titled “GE Energy Expands Energy Ventures, Adds KMI Retail Assets,” the full name of the entity involved in the transactions is GE Energy Financial Services. It was referred to as “GE Energy” after the first paragraph, which is incorrect.

A recently filed settlement between Enron and FERC trial staff that resolves certain matters and claims tied to Enron’s actions and transactions in western energy markets over several years [EL03-180, et al.] has come under attack from the Montana attorney general and U.S. Sen. Maria Cantwell (D-WA).

CenterPoint Energy Inc. and indirect subsidiary CenterPoint Energy Resources Corp. (CERC) said Friday some transactions involving purchases and sales of natural gas within the gas distribution segment were overstated by $520 million in 2004 and by $430 million in the first nine months of 2005. The companies said the overstatements resulted from not properly eliminating consolidation of the two entities’ financial statements, and the affected results will be restated.

Terra Industries Inc. a leading world producer of nitrogen products, has lowered the utilization of each of its North American plants by 10% in response to the run-up in natural gas prices following Hurricanes Katrina and Rita, said company President Michael Bennett Monday.

Citing a high rate of unconfirmed transactions at Uinta Lateral delivery points, CIG said it has recently experienced a critical oversupply situation on that portion of its system, resulting in higher than appropriate mainline pressures that “have created problems receiving scheduled quantities of gas from the attached production areas.” In response, CIG declared a Strained Operating Condition for the Uinta and Parachute laterals that took effect Friday until further notice. See the bulletin board for SOC conditions.