ArcLight to Invest With CDX to Expand North American Coal Bed Methane Production.Business Editors BOSTON--(BUSINESS WIRE)--Nov. 14, 2002 ArcLight Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Boston-based private equity firm, announced today it has committed $100 million of equity to Lightning Gas, LLC, a limited liability company established by ArcLight in partnership with CDX CDX Companion Dog Excellent (AKC Obedience Title) CDX Cyber-Defense Exercise CDX Central Data Exchange CDX Community Development Exchange (UK community development organization) CDX Commercial Data Exchange Gas, LLC. The commitment is expected to support over $500 mm of new investments in coal bed methane and other non-conventional natural gas projects in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Dallas-based CDX Gas is a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. land-based natural gas drilling and exploration company that has pioneered proprietary horizontal drilling technology. This technology allows CDX to extract methane from coal and shale beds spanning over 1,200 acres from a single well site, providing significant economic and environmental advantages. CDX and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. provide turnkey production capabilities with their own coring rigs, drilling rig fleet, directional tools and services, laboratories and full spectrum operating teams. It operates in 14 states and two Canadian provinces. The U.S. Department of Energy projects natural gas consumption to grow from 23 trillion cubic feet to over 30 trillion cubic feet by 2010. To meet this demand, new natural gas production must grow by 700 billion cubic feet per year. "The massive build-out of the U.S. gas-fired power generation fleet is driving natural gas demand growth," said Daniel Revers re·vers also re·vere n. pl. revers also re·veres A part of a garment, such as a lapel, turned back to show the reverse side. , ArcLight's Managing Partner. "We believe coal bed methane represents an important new source of cost-effective natural gas for the power industry, and are excited about the opportunity to work with and invest with CDX as it becomes the leading producer of natural gas from coal bed methane in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ." About ArcLight Capital Partners ArcLight Capital Partners manages the $950 million ArcLight Energy Partners Fund I, L.P. The Fund was established to capitalize on attractive investment opportunities in the rapidly evolving power, utility and energy industry. ArcLight's investment in Lightning Gas represents its 15th fund investment. Additional information on ArcLight is available at the company's Web site, www.arclightcapital.com. |
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