Acknowledging its significant improvement in company performanceand shareholder value in the past year, Equitable Resourcespromoted Murry S. Gerber to chairman of the board of directors lastweek. Gerber has served as president and CEO since joiningEquitable in 1998.
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Equitable Rewards Gerber with Chairman Post
Acknowledging its significant improvement in company performanceand shareholder value in the past year, Equitable Resources haspromoted Murry S. Gerber to chairman of the board of directors.Gerber has served as president and CEO since joining Equitable in1998.
KN Energy Sells Tom Brown Shares for $29M
The recent sale of one million shares of Tom Brown Inc. stock toan undisclosed investor garnered Lakewood, CO-based KN Energy about$29 million in cash and should help the company digest itsacquisition of Kinder Morgan Inc.
KN Energy Sells Tom Brown Shares for $29M
The recent sale of 1 million shares of Tom Brown Inc. stock toan undisclosed investor garnered Lakewood, CO-based KN Energy about$29 million in cash and should help the company digest itsacquisition of Kinder Morgan Inc.
TransCanada Names New Executive Team
TransCanada PipeLines, led by interim CEO Doug Baldwin, unveileda new organizational structure Friday, aimed at “building greatervalue for shareholders from its pipeline, power generation,midstream and marketing infrastructure across Canada and thenorthern tier of the United States.”
TransCanada Names New Executive Team
TransCanada PipeLines, led by interim CEO Doug Baldwin, unveiled a new organizational structure Friday, aimed at “building greater value for shareholders from its pipeline, power generation, midstream and marketing infrastructure across Canada and the northern tier of the United States.”
Connecticut Natural Gas Seeks Combo
CTG Resources Inc., parent of Connecticut Natural Gas, announcedit has retained Paine Webber Inc. to advise it on strategicalternatives to maximize shareholder value, including the potentialsale of the company and acquisitions of nonregulated enterprises toexpand the company’s district heating and cooling activities.
Futures Seek Fair Value on Either Side of $2.00
After opening at the pivotal $2.00 level yesterday the Maycontract was held to a tight, 3.5-cent trading range, as tradersseemed willing to sell the prompt contract on moves above $2.00 andbuy the market on moves below $2.00. And similar to the priceaction, yesterday’s close had something for everyone. Bulls foundsolace in the market’s ability to finish above $2.00, while bearswere optimistic following the market’s second-straight day oflosses. May slipped 1.7 cents to $2.013.
Edison Buying ComEd Fossil Plants for $5 B
Commonwealth Edison (ComEd) parent Unicom received about $1.76billion over book value last week in the largest divestiture yet ofa utility’s fossil-fueled power plants. Edison International’sindependent power subsidiary is buying 9,772 MW of ComEd’s coal-and gas-fired baseload and peaking plants for $5 billion.
GPU Deal Makes Sithe Biggest U.S. IPP
New Jersey utility holding company GPU Inc. has sold itsnon-nuclear generating assets for $2.62 billion – 2.5 times bookvalue or $510 per kilowatt. The majority of generating assets werebought by French- and Japanese-owned Sithe Energies Inc. of NewYork City, which bought assets in New Jersey, Pennsylvania andMaryland. The deal will make Sithe the largest U.S. independentpower producer.