Integrys Energy Group Inc. has agreed with an unidentified buyer to sell the bulk of its unregulated marketing arm, the U.S. operations of Integrys Energy Services Inc. in a two-part transaction, the company said last Thursday. The agreement appeared to be the final step in Integrys’ strategy of divesting more risky enterprises to focus on its core natural gas and electric utility businesses.
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Integrys Selling U.S. Gas Marketing Business
Integrys Energy Group Inc. has agreed with an unidentified buyer to sell the bulk of its unregulated marketing arm, the U.S. operations of Integrys Energy Services Inc. in a two-part transaction, the company said Thursday. The agreement appeared to be the final step in Integrys’ strategy of divesting more risky enterprises to focus on its core natural gas and electric utility businesses.
Southwestern Hit Hard By $109M Royalty Ruling
Southwestern Energy has revealed that it will be forced to selloff some unidentified assets to cover the costs associated with aruling last week by the Arkansas Supreme Court. The court affirmeda 1998 decision of a Sebastian County Circuit Court awarding morethan $109 million in a class action to royalty owners of SEECO,Inc., a wholly-owned Southwestern Energy subsidiary.
Southwestern Hit Hard by $109M Royalty Ruling
Southwestern Energy has revealed that it will be forced to selloff some unidentified assets to cover the costs associated with aruling yesterday by the Arkansas Supreme Court. The court affirmeda 1998 decision of a Sebastian County Circuit Court awarding morethan $109 million in a class action to royalty owners of SEECO,Inc., a wholly-owned Southwestern Energy subsidiary.
Enron Considers Selling E&P Unit
Enron Corp. notified the Securities and Exchange Commission lastweek it is considering an unsolicited offer from an unidentifiedcompany for its 53.5% share of Enron Oil and Gas, one of thelargest independent gas producers in the U.S. According to thesolicitation, the third party would acquire Enron’s shares in EOGand make an offer for all the outstanding shares. It also wouldrequire that Enron dispose of certain other assets.