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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event Reported) February 17, 1999
COLUMBIA ENERGY GROUP
(Exact name of registrant as specified in its charter)
Delaware 1-1098 13--1594808
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
13880 Dulles Corner Lane, Herndon, VA 20171-4600
(Address of principal executive offices)
Registrant's telephone number, including area code (703) 561-6000
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Item 5. Other Events
Information contained in a News Release dated February 17, 1999 is
incorporated herein by reference.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Columbia Energy Group
(Registrant)
By /s/J. W. Grossman
Vice President & Controller
Date: February 17, 1999
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For Immediate Release Contacts:
February 17, 1999 News Media: Simon Ruebens (703) 561-6063
Financial Community: Thomas L. Hughes (703) 561-6001
COLUMBIA ANNOUNCES STOCK REPURCHASE PROGRAM
Herndon, Va., Feb. 17 - Columbia Energy Group today announced that its
board of directors has approved a repurchase program for up to $100 million of
its common stock, through February 29, 2000.
The repurchase program authorizes Columbia Energy Group to make
purchases in the open market or otherwise. The timing and terms of purchases,
and the number of shares actually purchased, will be determined by management
based on market conditions and other factors. Purchases will be conducted in
accordance with applicable rules of the Securities and Exchange Commission.
Purchased shares will be held in treasury and will be available for general
corporate purposes or resale at a future date, or will be retired. Any purchases
will be financed with short-term debt, or made from available funds. The plan
may be suspended or terminated at any time, at the company's discretion. This
announcement is not a request or offer for tender of shares to the company. The
company currently has approximately 83.5 million shares outstanding.
Columbia Energy Group, based in Herndon, Va., is one of the nation's
leading energy services companies, with 1998 revenues of nearly $6.6 billion and
assets of about $7 billion. Its operating companies engage in all phases of the
natural gas business, including exploration and production, transmission,
storage and distribution, as well as commodities marketing, energy management,
propane sales and electric power generation, sales and trading. Columbia's
companies serve customers in 34 states and the District of Columbia; over 60
percent of America's gas and electric revenue is derived in and around its
principal operating region.
Information about Columbia Energy Group (NYSE:CG) is available on the
Internet at www.columbiaenergygroup.com.
