What is the all-time high of National Grid Transco stock price?
The all-time high National Grid Transco stock closing price was 94.45 on December 10, 2007. The National Grid Transco 52-week high stock price is 74.71, which is 2.3% above the current share price. The National Grid Transco 52-week low stock price is 55.89, which is 23.5% below the current share price.
When did Transco Energy change its name?
The parent company also ventured into other energy businesses, including coal; it bought three coal companies from General Energy Corporation of Lexington, Kentucky, in 1982, for about $70 million. The same year, the parent company ’ s name was changed to Transco Energy Company.
Why did Transco build a gas pipeline in Texas?
Also that year, Transco and United Gas Pipeline Company applied for Federal Power Commission (FPC) approval to build an offshore pipeline to transport natural gas produced in the High Island area in the gulf, off the Texas coast. Transco ’ s exploration ventures were in part a response to the energy crisis of the 1970s.
What is Transco doing in the Gulf?
Another Transco unit, Transco Exploration Company, reported discovery of three natural gas reservoirs in the Gulf of Mexico, in an area Transco was exploring along with McMoRan and Mesa Petroleum Company. Transco Exploration and Texaco Inc. teamed up to produce oil and gas from another tract in the gulf.
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When did Transco become a holding company?
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When did Transco Energy buy coal?
In 1973 Transco Companies Inc. was incorporated as a holding company, and Transcontinental Gas Pipe Line Corporation became its subsidiary. The latter ’ s common stock was converted share-for-share into the common stock of the new parent company. Creation of the holding company was designed to allow greater breadth and flexibility in financing of construction and other ventures.
What happened to Transco in the 1980s?
The parent company also ventured into other energy businesses, including coal; it bought three coal companies from General Energy Corporation of Lexington, Kentucky, in 1982 , for about $70 million. The same year, the parent company ’ s name was changed to Transco Energy Company.
What was Transco's response to the energy crisis of the 1970s?
During the early 1980s Transco ’ s gas supply situation was the reverse of what it had been during the 1970s. Large increases in Transco ’ s own gas-production capacity, and that of its outside suppliers, had left the company with a great deal of gas it could not sell. Oil prices had fallen, so many of Transco ’ s industrial customers had begun to use inexpensive fuel oil instead of natural gas. Transco responded by renegotiating contracts with its suppliers, often arriving at a lower price, and also reduced the prices it charged industrial customers by tying its gas price to that of fuel oil. Also, Transco converted its exploration operations into a limited partnership, Transco Exploration Partners, Ltd. (TXP), and sold 12% of the partnership to the public in 1983 generating $120 million in cash.
How many gas discoveries did Transco make in 1990?
Transco ’ s exploration ventures were in part a response to the energy crisis of the 1970s. Unlike many other pipeline operators, Transco had only small gas supplies of its own, and the FPC strictly limited the price it could pay for gas producers ’ output. With energy prices rising across the board, producers were not eager to sell to Transco. In 1974 the FPC raised price limits for newly discovered gas, and the producers became more interested in Transco, which in turn was willing to finance exploration. Leading Transco ’ s efforts in this area was Jack Bowen, who became chairman and president late in 1974. Bowen came to Transco from Florida Gas Company, a pipeline operator that had significant gas exploration experience as well.
What is Transco Energy?
Transco Exploration and Production made 11 gas discoveries in 1990. Also in 1990, the FERC gave preliminary approval to a project by which Transco ’ s two major pipeline systems — Transcontinental Gas Pipe Line and Texas Gas Transmission — would be expanded and connected with other companies ’ systems, creating the first major new route for domestic gas to the northeastern United States since the 1970s.
What was Transco's net loss in 1991?
Transco Energy Company ’ s primary business is the transportation and sale of natural gas, largely to markets in the eastern and midwestern United States. It runs the largest gas-gathering system in the Gulf of Mexico and operates a huge pipeline network, including a line that extends 10,000 miles, from the gulf to New York City. In 1990 Transco ’ s total pipeline system deliveries provided more than 10% of natural gas used in the United States, including the gas that lights the eternal flame at the grave of the late U.S. President John F. Kennedy. Transco also has interest in oil and gas exploration and production, electric power generation, and coal mining and marketing, although in 1991 the company decided to exit the coal and oil and gas production businesses.
National Grid's Phil Decicco Joins David Rockefeller Fellows Program
Having posted a modest profit in 1990, Transco showed a net loss of $47.2 million in the first nine months of 1991. Some of this was due to the establishment of a reserve to cover the outcome of a rate case pending before the FERC. Also, however, Transco ’ s nonpipeline businesses were performing poorly. Late in 1991, John P. DesBarres, who had succeeded Slocum as president with Bowen remaining chairman, announced Transco would get out of its oil and gas production businesses and coal operations, while focusing on its pipeline, gas marketing, and power generation segments. He also planned to reduce capital spending by 40% in 1992, while cutting common stock dividends and 500 jobs.
NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS
BROOKLYN/HICKSVILLE, NY, February 17, 2022 /3BL Media/ – National Grid New York’s Vice President and Deputy General Counsel Philip Decicco Jr. has been selected to join the Partnership for New York...
