Energy Business Recap: Integrys Energy Buys Fox, Transocean Wins Court Suspension
Wisconsin Public Service, a subsidiary of Integrys Energy Group (NYSE:TEG), will acquire privately held Fox Energy for $440 million. The transaction includes $390 million for the Fox Energy Center, which is a 593-megawatt combined cycle generating facility in Kaukauna, Wisconsin. Integrys says the purchase will add diversity to its generation fleet, along with improving its supply and pricing options.
Transocean (NYSE:RIG) wins one in a Brazilian court, which partially suspended the preliminary injunction order that forced the company to cease operations in that country within 30 days. With the decisions, Transocean may continue to operate its rigs in all fields offshore Brazil, with the exception of the Campo de Frade.
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Royal Dutch Shell’s (RDS.A) Nigerian division has shut its Bonny oil pipeline and deferred 150,000 barrels per day of output because of a large fire caused by a burning vessel, that allegedly was stealing crude oil from the pipeline.
Shares popped Monday, as CVR Energy’s (NYSE:CVI) is prepping for an initial public offering of up to $300 million, by refining files in the division involved. The firm needs to raise funds so as to pay down debt and for other purposes.
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