The financial pressure cooker is on high, and energy companies caught in the soup are scrambling to avoid getting burned. Early last week the kitchen got too hot for Dynegy Corp.’s Chairman and CEO Chuck Watson, who after 17 years, was immediately replaced by a top ChevronTexaco executive. By week’s end, El Paso Corp. and Williams Cos. had begun drastic financial measures to cool the credit rating agencies and investors. CMS Energy Corp. also joined in, moving to catapult what remains of its exploration and production division (see related stories).
Trauma
Articles from Trauma
Coalbed Methane Legislation Passed
Coalbed methane leaseholders in Wyoming and across the nationhave been saved from “suffering extensive economic trauma,” Sens.Craig Thomas and Mike Enzi and Rep. Barbara Cubin said in a jointstatement yesterday.
October 16, 1998
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