Triana Energy to buy former CNR Appalachian properties

Triana Energy Holdings Inc., Charleston, W.Va., reached agreement to buy Columbia Energy Resources and its Appalachian basin gas properties from NiSource Inc., Merrillville, Ind., for $330 million in cash.The purchase consists of Columbia Natural Resources and its 1.1 tcf of natural gas reserves. Triana is an affiliate of Morgan Stanley Capital Partners.NiSource, which acquired the properties when it bought Columbia Energy Group in 2000 for $8.5 billion (OGJ, Mar. 6, 2000, p. 34), will exit the E&P business upon closing in the third quarter of 2003.At the time, W. Henry Harmon, Richard W. Beardsley, and other officials of CNR formed Triana Energy, an exploration and production company. Tr...

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