Message-ID: <31307058.1075863604226.JavaMail.evans@thyme> Date: Tue, 29 Aug 2000 06:31:00 -0700 (PDT) From: dwagman@ftenergy.com To: energyinsight@spector.ftenergy.com Subject: Power Plant Development Update/New Economic Life for Shut-in Well s Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: "Wagman, David" X-To: ENERGYINSIGHT@SPECTOR.FTENERGY.COM X-cc: X-bcc: X-Folder: \Robert_Badeer_Aug2000\Notes Folders\Notes inbox X-Origin: Badeer-R X-FileName: rbadeer.nsf In Energy Insight for Tuesday, August 29 In Energy Insight Today (Blue Banner, all subscribers) Power plant developers shake off the dog days of summer with plans for another 15,000 MW of generating capacity. Check out the latest update to Energy Insight's power plant development Market Indicator at http://www.einsight.com. While you're at it, browse through Energy Insight's other updated Market Indicators, including domestic and international M&A activity, power plant sale list and European restructuring scorecard. Look for the Market Indicators link under the blue banner story on Energy Insight's front page. In Energy Insight 2000 (Red Banner, premium-pay access only) Energy Insight Fuels: High prices for oil and natural gas may give new economic life to shut-in wells, which offer not only an in-place reserve of fuel, but a hedging strategy for producers as well. Read details at http://www.einsight.com. For subscription information to Energy Insight 2000, call in the U.S. 720-548-5429 or e-mail einsightsales@ftenergy.com. ************* 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 Brief: +TXU Europe puts gas assets up for sale FT Energy's Gas Daily Europe reports that TXU Europe is putting its North Sea gas assets up for sale. The utility confirmed today that is in "preliminary talks" with a number of third parties, but stressed it was "very early days". The move follows "a number of unsolicited expressions of interests" in the business, including its operatorship. TXU said it is reviewing this part of its business and will only decide whether to sell at its conclusion. It has not set a deadline for the review. A source inside the company was not surprised at the review: "The business has changed a lot in the last year." TXU has already put up its UK generation assets for sale, and this latest move to divest gas assets could mark a shift in strategy to focus on trading and retailing. Some analysts believe that assets no longer give "competitive advantage" to energy companies, as the focus shifts towards the end-user and convergence of gas and electricity. TXU's principal production assets comprise the operating licence and 64.2% of the 83bn ft? Johnston gas field, plus 14.75% of the 33bn ft? Ravenspurn North field, 11.24% of the 5bn ft? Welland field and 4.83% of the 17bn ft? Schooner field. It also has a number of upstream exploration licences and interests in pipelines. ///////////////// Market Brief Monday August 28 Stocks Close Change % Change DJIA 11,252.84 60.2 0.5 DJ 15 Util. 361.12 5.2 1.5 NASDAQ 4,070.59 27.9 0.7 S&P 500 1,514.09 7.6 0.5 Market Vols Close Change % Change AMEX (000) 48,238 6,085.0 12.6 NASDAQ (000) 1,373,111 86,691.0 6.3 NYSE (000) 728,653 51,884.0 7.1 Commodities Close Change % Change Crude Oil (Oct) 32.87 0.84 2.56 Heating Oil (Sep) 0.9988 0.03 2.94 Nat. Gas (Henry) 4.685 0.06 1.22 Palo Verde (Sep) 162 (14.00) (8.64) COB (Sep) 185 (7.50) (4.05) PJM (Sep) 38 2.25 5.92 Dollar US $ Close Change % Change Australia $ 1.750 0.01 0.61 Canada $ 1.483 (0.00) (0.13) Germany Dmark 2.172 0.01 0.23 Euro 0.8993 (0.00) (0.26) Japan _en 106.44 (0.59) (0.56) Mexico NP 9.22 (0.01) (0.10) UK Pound 0.6802 0.00 0.04 Foreign Indices Close Change % Change Arg MerVal 475.31 0.07 0.01 Austr All Ord. 3,322.70 (3.60) (0.11) Braz Bovespa 17,460.33 (182.34) (1.04) Can TSE 300 11,224.45 (21.59) (0.19) Germany DAX 7,339.22 32.05 0.44 HK HangSeng 17,019.76 (216.98) (1.27) Japan Nikkei 225 17,181.12 269.79 1.57 Mexico IPC 6,226.37 45.22 0.73 UK FTSE 100 6,563.71 0.00 0.00 Source: Yahoo! and NYMEX