Message-ID: <33240218.1075863587922.JavaMail.evans@thyme> Date: Mon, 28 Aug 2000 06:37:00 -0700 (PDT) From: dwagman@ftenergy.com To: energyinsight@spector.ftenergy.com Subject: Montana Power Divests Oil & Gas/Making a Case for CAES Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "Wagman, David" <dwagman@FTENERGY.COM> X-To: ENERGYINSIGHT@SPECTOR.FTENERGY.COM X-cc: X-bcc: X-Folder: \Robert_Badeer_Aug2000\Notes Folders\All documents X-Origin: Badeer-R X-FileName: rbadeer.nsf In Energy Insight for Monday, August 28 In Energy Insight Today (Blue Banner, all subscribers) Some power development companies think the answer to electric price volatility is blowin' in the wind, literally, moving to develop compessed air energy storage facilities in a number of locations. Local utilities seem encouraged by the idea as well. Read details at http://www.einsight.com. In Energy Insight 2000 (Red Banner, premium-pay access only) Montana Power's Touch America unit is expanding into wireless even as it installs fiber optics across the country. The analysis is timely given Montana Power's asset sale and Deutsche Telecom's further U.S. expansion, both announced Monday. ************* Wanted: 2000 FT Energy Global Award Nominations Time is running out to nominate your company or CEO for the 2000 FT Energy Global Awards! Now's the time to recognize those companies and individuals who are truly defining excellence amid the challenges of a dynamic energy environment. Awards will be given in 13 categories, including CEO of the Year and Energy Company of the Year. Enter the best-of-class competition by September 1 at http://www.fte-awards.com. ************* News Briefs: +Montana Power Sells Oil and Gas Business Unit The Montana Power Co. has sold for $475million (US) its nonregulated oil and gas business unit to PanCanadian Petroleum Limited of Calgary. The sale includes subsidiaries that have interests in crude oil, natural gas and gas liquids exploration, production and marketing in the U.S. and Canada. Proceeds from the sale would be invested in growing Touch America, MPC's national fiber-optic and wireless broadband telecommunications subsidiary. The U.S. businesses have operations in northern Montana and in the D-J (Denver-Julesburg) Basin north of Denver as well as minor properties in the Anadarko Basin, Oklahoma, and Green River Basin, Wyoming. Fractionation plants are at Cut Bank, MT, and Ft. Lupton, CO. The Canadian properties reside mostly in southern and central Alberta and in southern Saskatchewan. *********** +Deutsche Telekom to Buy Powertel for $5.89bn The Financial Times said that Deutsche Telekom is expanding in the U.S. mobile phone market by acquiring Powertel, a local mobile operator in the Southeast, for about $5.89 billion in shares. The deal comes just weeks after DT moved into the U.S. mobile market through the $50 billion acquisition of VoiceStream. As that deal has not yet been completed, the latest transaction is structured as an all-share acquisition of Powertel by Voicestream. The two U.S. companies have also agreed that the deal will go ahead even if DT's takeover of VoiceStream is not completed. Communications Holdings, Inc., a unit of SCANA Corp., owns approximately 14.6 million fully diluted common shares, or about a 27% equity interest, in Powertel, representing an investment of $249 million. ////////////// Market Brief Friday August 25 Stocks Close Change % Change DJIA 11,192.63 9.9 0.1 DJ 15 Util. 355.95 (2.6) (0.7) NASDAQ 4,042.68 (10.6) (0.3) S&P 500 1,506.45 (1.9) (0.1) Market Vols Close Change % Change AMEX (000) 42,153 (8,220.0) (19.5) NASDAQ (000) 1,286,420 (261,588.0) (20.3) NYSE (000) 676,769 (148,377.0) (21.9) Commodities Close Change % Change Crude Oil (Oct) 32.03 0.40 1.25 Heating Oil (Sep) 0.9694 0.02 1.66 Nat. Gas (Henry) 4.628 0.09 1.90 Palo Verde (Sep) 176 (1.00) (0.57) COB (Sep) 192.5 1.50 0.78 PJM (Sep) 35.75 2.75 7.69 Dollar US $ Close Change % Change Australia $ 1.740 (0.00) (0.28) Canada $ 1.485 (0.00) (0.15) Germany Dmark 2.167 0.00 0.05 Euro 0.9016 (0.00) (0.01) Japan _en 107.03 0.21 0.19 Mexico NP 9.229 0.02 0.26 UK Pound 0.6799 0.00 0.74 Foreign Indices Close Change % Change Arg MerVal 475.24 4.73 1.00 Austr All Ord. 3,326.30 (4.10) (0.12) Braz Bovespa 17,642.67 331.71 1.88 Can TSE 300 11,246.04 67.06 0.60 Germany DAX 7,307.17 76.91 1.05 HK HangSeng 17,236.74 (202.96) (1.18) Japan Nikkei 225 16,911.33 240.51 1.42 Mexico IPC 6,181.15 (112.40) (1.82) UK FTSE 100 6,563.71 6.67 0.10 Source: Yahoo! and NYMEX