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According to a recent story that appeared in the online LA Times (LATimes.com), the Los Angeles Department of Water and Power has signed a purchase agreement with Anschutz Pinedale Corporation in Denver to buy a portion of the company’s natural gas reserves in Sublette County.

The $300 million purchase was made to ensure a stable supply of natural gas for its power plants, the most variable component of their operating expenses. The Deparment of Water and Power is reportedly a partner with the Southern California Public Power Authority representing the cities of Anaheim, Burbank, Colton, Glendale and Pasadena. The agreement involves 38 operating Anschutz wells for over the life of the field.

Related Link:
DWP Purchases Natural Gas Reserves By Patrick McGreevy, Times Staff Writer