High Plains Diversified Acquires Odessa Natural Gas Facility from PSEG: Adding Diversity to Electricity Generation

Pages: 5 Published: April 01, 2011 Report Code: GDPE0002MA

  • Overview
  • Contents
  • Tables
  • Figures
  • Listen
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High Plains Diversified Energy Corporation (HPDEC) made an agreement with PSEG Power on January 13, 2011 to purchase, through bond financing of $335m, their 1,000-MW natural gas-powered generation facility located near Odessa, Texas. This is in addition to another announcement made by HPDEC to acquire the 550-megawatt Quail Run Energy Center in Odessa from Constellation Energy Corporation on December 30, 2010. As expected, both the transactions will be closed during the first quarter of 2011. With the completion of these acquisitions, HPDEC will have purchased a combined 1,550 MW of natural gas-fired electric generation at a significantly lower price than if it were to build a plant of similar capacity. These two acquisitions have been planned by HPDEC to help them meet their required capacity to keep providing low cost electricity and also enhancing the distribution reliability for their customers in West Texas.

Scope

The information related to High Plains Diversified Energy Corporation’s acquisition of PSEG Power

Comparison of acquisition deals in power industry

Key drivers of the deal

Rationale of the deal

A brief on companies, High Plains Diversified Energy Corporation and PSEG Power

Reasons to Buy

The Deal Report allows the reader to:

Understand the reasons for the acquisition

Understand the response from the markets

Understand the impact of the deal on High Plains Diversified Energy Corporation

Table of Contents

1 Table of Contents 1

1.1 List of Tables 1

1.2 List of Figures 1

2 Summary 1

3 High Plains Diversified Acquires Odessa Natural Gas Facility from PSEG: Enhancing Reliability and Cost-effectiveness to Electricity Distribution 1

3.1 Deal Overview 1

3.2 Deal in Brief 2

3.3 Comparable Deals 2

3.4 Key Drivers of the Deal 2

3.4.1 Availability of Unconventional Gas Resources Boost the Electricity Generating Capacity in Texas 2

3.4.2 Gas Resources to Play a Key Role in the Energy Security and Reliability 3

3.5 Deal Rationale 3

3.6 About the Companies 3

3.6.1 High Plains Diversified Energy Corporation 3

3.6.2 Public Service Enterprise Group Inc. 3

4 Appendix 4

4.1 Abbreviations 4

4.2 Methodology 4

4.2.1 Coverage 4

4.2.2 Secondary Research 4

4.2.3 Primary Research 4

4.2.4 Modeling and Forecasting 4

4.3 Contact Us 5

4.4 Disclaimer 5

List of Tables

1.1 List of Tables

Table 1: Comparable Deals 2

Table 2: Abbreviations 4

List of Figures

1.2 List of Figures

Figure 1: Cumulative Gas Capacity for Power Generation in Texas, US, 2000-2020 3

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