WPS Resources Corp., Green Bay, Wis., (NYSE: WPS) has acquired Peoples Energy Corp., Chicago, (NYSE: PGL) through a merger that has created a diversified energy company named Integrys Energy Group Inc. in a deal valued at approximately $1.6 billion. Integrys provides utility services in four Midwest states through its regulated utility operations and also operates nonregulated energy-related businesses in various markets in the U.S. and Canada. It has total assets of approximately $10 billion and its market capitalization is approximately $4 billion. Houston-based Peoples Energy Production Co., the E&P subsidiary of Peoples Energy, has 394 operated wells and 359 nonoperated wells onshore the Texas and Louisiana Gulf Coast, in Oklahoma, Arkansas, Colorado, New Mexico and Wyoming. Total proved reserves are 233 billion cubic feet of gas equivalent as of September 2006.
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