Dynegy Inc. said it filed a $1 billion universal shelf registration with the US Securities and Exchange Commission. In addition, Dynegy Holdings Inc., a Dynegy subsidiary, has filed a universal shelf registration statement in the amount of $750 million. Dynegy said the funds will be used to support strategic growth initiatives. The registration statements have not yet become effective, the company said.
Taking a contrarian view of the market, a US energy consulting firm concludes natural gas prices could fall significantly, if oil prices continue declining. But ICF Consulting concludes the 30 million bbl of oil which President Clinton has authorized for release from the Strategic Petroleum Reserve (SPR) is insufficient to bring oil prices down enough to calm the natural gas market.