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Dominion to Buy Natural Gas Firm
From:
The Washington Post
| Date:
September 11, 2001| Author:
Peter Behr
| Copyright 2001 The Washington Post. This material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post.Copyright information
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Dominion Resources Inc., the Richmond-based energy holding company
that owns Virginia's largest electricity supplier, said yesterday
that it will buy an Oklahoma natural gas company for $2.3 billion, a
transaction that would boost its gas reserves by 60 percent.
The purchase of Louis Dreyfus Natural Gas Corp., for a combination
of cash, stock and assumed debt, was described by Dominion officials
as a long-term gamble that natural gas prices will climb because of
the fuel's use to gener...
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