Rosetta Resources Inc. asked the U.S. Bankruptcy Court, Southern District of New York, Tuesday to dismiss unsettled allegations of fraudulent actions by the oil/gas producer made by Chapter 11-bound power plant operator Calpine Corp., which at one time owned Rosetta’s principal North American oil/gas reserves. Rosetta argued that the Calpine claims are barred as a matter of law by the expected full payment of Calpine’s creditors under the company’s proposed reorganization plan.
Unsettled
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Natural Gas Price Volatility Likely to Continue, Sempra COO Says
Although the global landscape is still unsettled for energy, and specifically liquefied natural gas (LNG), opportunities will continue to develop, and Sempra Energy has the right mix of trading, infrastructure development, operating and risk management skills to take advantage of whatever opportunities arise, said Sempra COO Neal Schmale, speaking at a company-hosted financial analysts meeting Thursday in San Diego. Sempra raised its 2007 earnings-per-share guidance to $3.75-3.95.
March 30, 2007
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