Dynegy History
Dynegy Company History Timeline
Over the next decade and a half the NGPA would be implemented by a series of orders promulgated by the Federal Energy Regulatory Commission (FERC), beginning with Order 380, introduced in 1984, which allowed third-party marketers to sell gas at prices competitive with the gas producers.
Morgan Stanley bought out Transco and Akin, Gump in 1985 for $24 million and recruited Chuck Watson to head up the company.
The Clearinghouse quickly gained a leadership position in the gas marketing field, seeing sales rise to 1.3 billion daily cubic feet by 1988 and then top two billion daily cubic feet the following year, making the Clearinghouse the country's largest independent natural gas marketer.
At the end of 1989, he arranged for the Clearinghouse to acquire Apache's Nagasco, Inc. gas gathering system, boosting the Clearinghouse's natural gas volume to 2.55 billion daily cubic feet.
By 1990, the Clearinghouse was posting annual revenues of $1.7 billion.
It owned and operated a number of power stations in the United States, all of which were natural gas-fueled or coal-fueled, until merging with Vistra Corp on April 9, 2018. It changed its name to NGC Corporation in 1995 after entering the electrical power generation business.
By 1995, natural gas marketing contributed only 65 percent of the company's $3.7 billion in revenues.
In January 1996, NGC entered talks with industry giant Chevron Corporation to merge Chevron's gas gathering, processing, and marketing operations with NGC. By June of that year the companies had reached agreement and, by September 1996, the merger was completed.
1996: Company merges with most of Chevron Corporation's natural gas and gas liquids businesses, including Warren Petroleum.
In January 1997, the company announced its intention to spend $650 million on capital improvements, investments, and acquisitions.
The company continued that strategy in 1998, joining forces in the Southeast with Piedmont Natural Gas and AGL Resources to create SouthStar Energy.
The company adopted the name Dynegy in 1998.
In 1999, the company's midstream business sold four gas processing plants, thus reducing operating expenses by $50 million.
Although energy trading accounted for only 20 percent of Dynegy's revenues, compared with 80 percent at Enron, Dynegy saw its stock drop to $20 a share by January 2002.
In 2002, Dynegy (DYN) came very close to bankruptcy and was charged with a series of allegations related to fraudulent accounting practices.
2004 verkaufte Energy das Unternehmen Illinois Power Company an das US-amerikanische Unternehmen Ameren. (de) Dynegy Inc. was an electric company based in Houston, Texas, in the United States.
But it had to file bankruptcy in 2012 when it was unable to service the company’s high levels of debt.
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| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| The Williams Companies | 1908 | $11.0B | 5,425 | 213 |
| Chesapeake Energy | 1989 | $11.7B | 1,300 | 23 |
| Cenergy International Services | 1996 | - | 840 | 370 |
| Kinder Morgan | 1997 | $19.2B | 11,012 | 554 |
| EQT | 1888 | $7.5B | 624 | 12 |
| Duke Energy | 1904 | $28.8B | 27,535 | 153 |
| Exelon | 2000 | $19.1B | 33,383 | 477 |
| Enterprise Products Partners | 1968 | $58.2B | 7,000 | 127 |
| Atmos Energy | 1906 | $4.2B | 4,628 | 65 |
| Chevron | 1879 | $146.5B | 44,679 | 200 |
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Dynegy may also be known as or be related to DYNEGY HOLDINGS INC, Dynegy, Dynegy Global Energy, Inc., Dynegy Inc and Dynegy Inc.