Wholly

TransCanada PipeLines Ltd., through its wholly-owned subsidiary,TransCanada OSP Holdings Ltd., reported last week it purchased anadditional 29.9% interest in an Ocean State Power (OSP) plant fromNational Grid USA for an estimated $61 million, making it the soleowner of the OSP facility. The transaction is expected to close bySeptember, pending regulatory approvals.

Houston’s Torch Energy Advisors Inc. announced Monday that itformed a wholly owned subsidiary, Torch Energy TM Inc. (TETM).Natural gas marketing, along with refined products, derivativesmarketing and specialty product transactions will now be handled byTETM. Torch and its subsidiaries provide extensive outsourcingservices, including financial and accounting services, oil and gasoperations, hydrocarbon marketing and property acquisitions anddivestitures. Contact Blake Beyer at (713) 756-1881 forinformation.

Duke Energy Field Services (DEFS), a wholly owned subsidiary ofDuke Energy Corp. and Phillips Petroleum Co., announced thepostponement of an initial public offering of common shares onFriday because of “volatile market conditions.” The company saidshares will be offered to the public when stock market conditionsare more favorable. In the meantime, DEFS will continue to be owned69.7% by Duke Energy and 30.3% by Phillips.

Duke Energy Field Services (DEFS), a wholly owned subsidiary ofDuke Energy Corp. and Phillips Petroleum Co., announced thepostponement of an initial public offering of common shares onFriday because of volatile stock market conditions. The companysaid shares will be offered to the public when market conditionsare more favorable. In the meantime, DEFS will continue to be owned69.7% by Duke Energy and 30.3% by Phillips.

NRG Energy Inc., a Minneapolis-based wholly owned subsidiary ofNorthern States Power Co., is going public and filed for anoffering of 18% of its common stock. The maximum aggregate offeringprice of the offer is $600 million. All proceeds will remain withNRG Energy.

Kinder Morgan Inc. agreed to sell the capital stock of MidCon Gas Products of New Mexico Corp., a wholly owned subsidiary, to GPM Gas Corp., a unit of Phillips Petroleum, for $20 million in cash. Closing is expected by year-end. MidCon Gas Products owns the Big Eddy and Logans Draw gathering systems in Eddy County, NM. The combined systems include 159 miles of four- to ten-inch pipe with average throughput of 50 MMcf/d. Richard D. Kinder, CEO, said the sale is part of Houston-based Kinder Morgan’s back to basics strategy to divest of non-core assets. Sale proceeds will reduce debt.

Allegheny Energy’s delivery business, Allegheny Power, plans to buy Mountaineer Gas Co. (MGC), a wholly owned subsidiary of Energy Corp. of America (ECA), for $323 million, including assumption of $100 million in debt. The deal would give Allegheny its second gas distribution system, assuming the previously announced plan to acquire UtiliCorp’s West Virginia Power division goes through.

Allegheny Energy’s delivery business Allegheny Power plans tobuy Mountaineer Gas Co. (MGC), a wholly owned subsidiary of EnergyCorp. of America (ECA), for $323 million, including assumption of$100 million in debt. The deal would give Allegheny its second gasdistribution system, assuming the previously announced plan toacquire UtiliCorp’s West Virginia Power division goes through.

Mid Louisiana Gas Transmission Co. (MLGT), a wholly ownedsubsidiary of Midcoast Energy Resources Inc., made a gas processingagreement with Exxon Company USA and plans to construct a newpipeline to supply up to 80 MMcf/d of gas to the Exxon Baton RougeGas Plant. MLGT will construct an eight-mile 14-inch pipeline forabout $3.5 million. The pipeline will connect the inlet of theBaton Rouge plant with the Florida Gas Transmission Co. Chacahoulalateral. Exxon has agreed to make available 80 MMcf/d of gas plantcapacity to process gas supplied by MLGT and Exxon through MLGT’snew pipeline. The new system will also interconnect with anexisting MLGT pipeline at the outlet of the plant. MLGT plans tobegin initial deliveries before year-end.