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ERCOT 2019 Summer Quarter Outlook

LCG, May 29, 2019-- LCG released a new summer (June – September 2019) report that looks at how the ERCOT grid copes with strained network conditions. Resource adequacy analysis for the region is especially important during extreme summer loading conditions. This summer the network is under particular scrutiny as the reserves have tightened because of recent retirements.

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South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Industry News

Calpine Adds to Natural Gas Reserves

LCG, July 11, 2001Calpine Corp., which is building gas-fired power plants as fast as possible, yesterday said that it has acquired in two transactions 236 billion cubic feet equivalent of proven natural gas reserves in the U.S. Southwest.

Chris Chambers, the company's vice president for business development, said "With these properties in place, Calpine is continuing to meet our goal of owning 25 percent of our natural gas requirements."

Combined, the two deals represent an investment of $355 million plus assumption of $49.5 million in debt, Calpine said.

In a purchase from The Bayless Companies, Calpine acquired certain assets in New Mexico's San Juan Basin, including 35 wells that produce about 6 million cubic feet equivalent a day, 96 percent of which is natural gas. That transaction has closed, Calpine said.

In the second deal, Calpine acquired a majority interest in Michael Petroleum of Houston. Michael Petroleum's gas reserves, located in South Texas, include total proven reserves of 204 billion cubic feet equivalent and currently produce 43 million cubic feet equivalent a day.

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