ENERGY SEC looking into Cheniere stock sale Cheniere Energy, a developer of natural gas terminals whose stock price has quadrupled in the past year, said the Securities and Exchange Commission is doing an informal inquiry related to a share sale by the company. ADVERTISEMENT
A Dec. 17 letter from the SEC requested documents and information concerning agreements with ChevronTexaco Corp. and a public offering of 5 million shares, Houston-based Cheniere said in a public filing Thursday.
A company spokesman didn't respond to calls seeking more explanation.
Also Thursday, Cheniere said that its limited partnership, Sabine Pass LNG, has received federal regulatory clearance to start construction of a liquefied natural gas receiving terminal in Cameron Parish, La.
HOTELS Name changed after renovation The Doubltree Hotel Houston-Post Oak has been renovated and renamed the Hilton Houston-Post Oak.
A $14 million renovation project was recently completed at the property, which was designed by architect I.M. Pei.
Mahogany furnishings, leather desk chairs and updated bathrooms were added to the property's 448 guest rooms. Located near the Galleria mall on Post Oak Boulevard, the Hilton has 30,000 square feet of meeting space.
The remodeling was part of a larger renovation project that included the Doubletree Houston Hotel-Allen Center.
The Houston hotels were included in a six-property renovation project by Slohat Hotels, a joint venture between USAA Real Estate Co. and Hilton Hotels Corp.
IN OTHER NEWS ... • Utility Choice Electric, an electricity provider, sued TXU Corp., Reliant Energy, American Electric Power and other companies, claiming they manipulated electricity markets and colluded to fix prices in Texas, Utility Choice said in a prepared statement. The suit, filed in U.S. District Court in Houston, claims the companies violated U.S. racketeering, fraud and antitrust laws beginning in 2002 and artificially inflated electricity costs in Texas by at least 20 percent, Utility Choice said in the statement. • Ashland, a Kentucky-based fuel and chemical producer, said it will continue to pursue a proposed $3 billion sale of its share of a refining venture to its partner, Houston-based Marathon Oil Corp. A shareholder has said the stake is undervalued. Ashland, responding to a letter this week from Atticus Capital, said in a prepared statement that discussions with the I nternal Revenue Service over the tax treatment of the deal were continuing.
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carefull, been dropping 2 straight days, oil is not tanking. just some profit taking. not saying its a bad play, woulda been great when it came .02 from highs.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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a much better idea is to invest in dsti, wwat, or zapz. All these are positive plays on a rise in oil prices.
Posts: 21 | Registered: Mar 2005
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