Enron

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Enron

An energy company that perpetrated one of the largest accounting frauds in history. Established in its latest form in 1985 in Omaha, it moved its headquarters to Houston and provided oil, natural gas, electric, water, and bandwidth products. Its share price eventually climbed to $85 because it used what it termed "innovative" techniques, including weather futures, to build its profit. In 2001, however, it was revealed that many of its assets were either overpriced or completely fictional; losses were hidden in offshore subsidies; and most profits were fraudulent. Its share price collapsed to $0.30 and Enron filed for bankruptcy in December 2001. See also: Arthur Andersen, WorldCom, Tyco International.
References in periodicals archive ?
REX-West is a 713 mile, 42-inch diameter pipeline with deliveries available on the pipeline system to interconnects with Kinder Morgan Interstate Gas Transmission, Northern Natural Gas Company, Natural Gas Pipeline Company of America, ANR and Panhandle Eastern Pipeline Company.
Through its energy- related business platforms -- CalEnergy, CE Electric UK, Kern River Gas Transmission Company, Northern Natural Gas Company and MidAmerican Energy Company -- MidAmerican provides electric and natural gas service to 5 million customers worldwide.
Northern Natural Gas Company, a MidAmerican Energy Holdings Company, has retained Paradigm for three years to help identify specific stakeholder audience addresses.
s Natural Gas Pipeline Company of American in Lincoln County, KS, as well as Northern Natural Gas Company and KMIGT's existing Pony Express line, both in Ottaw County, KS.
has agreed to sell Northern Natural Gas Company (NNG) to MidAmerican Energy Holdings Company for $928 million in cash, plus the assumption of $950 million in debt.
Reports are not yet available on the response to El Paso Energy Corporation's non-biding open season for a new interstate pipeline to transport natural gas between the Raton Basin and the interstate pipelines of El Paso Natural Gas and Northern Natural Gas Company in Moore County, TX.
The ratings affirmation for Northern Natural Gas Company (NNG) reflects the pipeline's strong standalone credit profile, solid credit protection measures, favorable operating characteristics and low regulatory risk.
Residue gas is delivered into Southern Star Pipeline and ONEOK Westex Pipeline with a future outlet planned into Northern Natural Gas Company.

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