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[QUOTE]Originally posted by QuestSolver: [QB] Natural gas price (as of 7:30 Eastern tonight) was 13.994, up two cents from Friday's close. http://www.futuresource.com/charts/charts.jsp?s=NG1!&a=V:5 never know,lots of money is going to be thrown around,wonder what big companies would pay for some percentage of our land rights...hmmmmm By: TomBurke 02 Oct 2005, 08:35 PM EDT Msg. 34238 of 34239 Jump to msg. # Nice to know some big money also thinks NG prices will remain high for some time to come: ==================================== NRG to buy Texas Genco for $5.8 bln By Michael Flaherty 1 hour, 43 minutes ago NEW YORK (Reuters) - NRG Energy Inc. (NYSE:NRG - news) on Sunday said it will buy Texas Genco Holdings Inc. for $5.8 billion in cash and stock, in a deal that would nearly double the merchant power producer's asset base and give it entry to the growing Texas wholesale electricity market. The deal may also spark a new round of consolidation among merchant energy producers, which are still recovering from a credit crunch in late 2001 that drove several large independent power producers, including NRG, into bankruptcy. Private equity firms Texas Pacific Group, Kohlberg Kravis Roberts & Co., Blackstone Group and Hellman & Friedman bought Texas Genco last summer for $3.7 billion, using $900 million of their own cash and the rest in debt to snap up the group of Texas-area power plants. NRG and Texas Genco said in a statement that NRG will pay $4 billion in cash, $1.8 billion in stock, and assume more than $2.5 billion of Texas Genco debt. The deal marks a nice payout for the private equity firms, who stand to make more than five times their investment. On the other side, NRG is spending a good chunk of money for a company that was owned by the buyout shops for barely a year. "I think we paid a fair price at the right time," said David Crane, NRG's president and chief executive. "Companies like this don't become available in our sector very often." Nearly half of Texas Genco's power generation is natural gas fired, with the rest coal and nuclear fueled. The deal therefore is essentially a bet on long term natural gas prices, said Lasan Johong, analyst at RBC Capital Markets Corp. [/QB][/QUOTE]
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