content: Securities and Exchange Commission
                                   
                         Washington, DC  20549
                                   
                               Form 8-K
                                   
                            Current Report
                                   
                Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act 1934
                                   
                                   
                   Date of Report November 13, 1998
                   (Date of earliest event reported)
                                   
                                   
                                   
                        CalEnergy Company, Inc.
        (Exact name of registrant as specified in its charter)
                                   
  
  
      Delaware                     1-9874              94-2213782
  (State of other          (Commission File           (IRS Employer
   jurisdiction of                Number)          Identification No.)
   incorporation)
  
  
  
   302 South 36th Street, Suite 400,Omaha, NE         68131
     (Address of principal executive offices)        Zip Code
  
  
  
  
  Registrant's Telephone Number, including area code:    (402) 341-4500
  
  
  
  
                                N/A
   (Former name or former address, if changed since last report)
  Item 5.  Other Events
  
        On November 13, 1998, the registrant announced that it closed
  the  sale  of $100 million aggregate principal amount of its  7.52%
  Senior  Notes due 2008. A copy of the press release issued  by  the
  Registrant  is  attached hereto as Exhibit 1  and  is  incorporated
  herein by reference.
  
        Certain information included in this report contains forward-
  looking   statements  made  pursuant  to  the  Private   Securities
  Litigation Reform Act of 1995 ("Reform Act").  Such statements  are
  based  on  current expectations and involve a number of  known  and
  unknown risks and uncertainties that could cause the actual results
  and  performance  of the Registrant to differ materially  from  any
  expected  future results or performance, expressed or  implied,  by
  the forward-looking statements including expectations regarding the
  future  results of operations of Registrant and MidAmerican  Energy
  Holdings  Company and the combined company, the intended  financing
  of  the  merger and receipt of regulatory approvals.  In connection
  with  the  safe harbor provisions of the Reform Act, the Registrant
  has identified important factors that could cause actual results to
  differ  materially  from such expectations,  including  development
  uncertainty,   operating   uncertainty,  acquisition   uncertainty,
  uncertainties  relating to doing business  outside  of  the  United
  States,    uncertainties   relating   to   geothermal    resources,
  uncertainties  relating  to  domestic  and  international  (and  in
  particular,  Indonesian)  economic  and  political  conditions  and
  uncertainties  regarding  the impact  of  regulations,  changes  in
  government   policy,   industry   deregulation   and   competition.
  Reference is made to all of the Registrant's SEC Filings, including
  the  Proxy Statement and the Registrant's Report on Form 8-K  dated
  March  6, 1998, incorporated herein by reference, for a description
  of  such factors.  The Company assumes no responsibility to  update
  forward-looking information contained herein.
  
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated November 13, 1998
  
  
  
                             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.
  
                                     CalEnergy Company, Inc.
  
  
  
  
                                  By: \s\ Douglas L. Anderson
                                          Douglas L. Anderson
                                          Assistant Secretary and
                                          Assistant General Counsel
  
  
  
  
  Dated: November 13, 1998
  
  
                               EXHIBIT 1
  
  
  FOR IMMEDIATE RELEASE
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Craig Allen - Manager, Investor Relations 402-341-4500
  Patti McAtee-Director, Corporate Communications 402-341-4500
  Kate Inverarity - Brunswick 212-333-3810
  
   CalEnergy Announces Closing of $100 Million Senior Note Offering
                                   
        OMAHA,  NE,  November  13,  1998:   CalEnergy  Company,  Inc.
  ("CalEnergy"  or the "Company") (NYSE:  CE; PCX and LSE)  announced
  today  that it closed the sale of $100 million aggregate  principal
  amount  of its 7.52% Senior Notes due 2008.  The Senior Notes  were
  sold at a premium of 102.24% of the aggregate principal amount plus
  accrued  interest less assumed underwriting discount of 1.5%.   The
  Senior Notes are subject to optional redemption at any time at  par
  plus  payment of a make-whole premium.  The Senior Notes were rated
  BB+,  Ba1 and BB+ by Standard & Poor's, Moody's and Duff &  Phelps,
  respectively,  and  CalEnergy's long term senior  debt  remains  on
  credit  watch with positive implications for a possible upgrade  by
  all  three  rating  agencies following completion  of  the  pending
  MidAmerican Energy merger.
  
       The Company intends to use the net proceeds of the offering to
  fund  a  portion  of the pending acquisition of MidAmerican  Energy
  Holdings Company.  The balance of the MidAmerican purchase price is
  expected  to  be  funded from approximately  $830  million  of  net
  proceeds  from  the  Company's recent $1.4 billion  debt  offering,
  approximately  $740  million in net proceeds  from  a  contemplated
  offering  of debt  securities by a subsidiary company to be  formed
  to   acquire  MidAmerican,  with  the  remainder  funded   from   a
  combination  of  cash,  a contemplated offering  of  the  Company's
  equity securities and/or possible non-core asset sales.
  
        Craig  M.  Hammett, Senior Vice President and Chief Financial
  Officer,  stated,  "This incremental financing takes  us  one  step
  closer   toward  completion  of  the  financing  for  the   pending
  MidAmerican merger."
  
        Credit Suisse First Boston Corporation served as sole manager
  of the Senior Note Offering.
  
        CalEnergy  is a global energy company that manages  and  owns
  interests   in  over  5,000  net  megawatts  of  power   generation
  facilities  in  operation, construction and development  worldwide.
  The  Company  develops  and produces energy from  diversified  fuel
  sources   including  geothermal,  natural  gas  and  hydroelectric.
  Through  its  subsidiary Northern Electric, CalEnergy supplies  and
  distributes  electricity and gas to 2.0 million  customers  in  the
  United Kingdom.  CalEnergy conducts business in the U.S., U.K., the
  Philippines, Indonesia, Poland and Australia, and employs more than
  4,200  people  worldwide.  For the year ended  December  31,  1997,
  CalEnergy generated revenues of over $2.2 billion and had assets of
  approximately $7.5 billion.
  
        This  press release contains forward-looking statements which
  are  based  on  current  expectations  and  involve  a  number   of
  uncertainties.   Reference  is made to all  of  the  Company's  SEC
  filings, including the Company's Report on Form 8-K dated March  6,
  1998,  incorporated herein by reference, for a description of  such
  uncertainties.
  
                           www.calenergy.com
                                   
                                 # # #
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 7543}]
metadata_filer: {"company-data": {"conformed-name": "CALENERGY CO INC", "cik": "0000720556", "assigned-sic": "4991", "irs-number": "942213782", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09874", "film-number": "98748637"}, "business-address": {"street1": "302 S 36TH ST", "street2": "STE 400", "city": "OMAHA", "state": "NE", "zip": "68131", "phone": "4023414500"}, "mail-address": {"street1": "302 SOUTH 36TH STREET", "street2": "SUITE 400-A", "city": "OMAHA", "state": "NE", "zip": "68131"}, "former-company": {"former-conformed-name": "CALIFORNIA ENERGY CO INC", "date-changed": "19920703"}}
text: Securities and Exchange Commission
                                   
                         Washington, DC  20549
                                   
                               Form 8-K
                                   
                            Current Report
                                   
                Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act 1934
                                   
                                   
                   Date of Report November 13, 1998
                   (Date of earliest event reported)
                                   
                                   
                                   
                        CalEnergy Company, Inc.
        (Exact name of registrant as specified in its charter)
                                   
  
      Delaware                     1-9874              94-2213782
  (State of other          (Commission File           (IRS Employer
   jurisdiction of                Number)          Identification No.)
   incorporation)
  
   302 South 36th Street, Suite 400,Omaha, NE         68131
     (Address of principal executive offices)        Zip Code
  
  Registrant's Telephone Number, including area code:    (402) 341-4500
  
                                N/A
   (Former name or former address, if changed since last report)
  Item 5.  Other Events
  
        On November 13, 1998, the registrant announced that it closed
  the  sale  of $100 million aggregate principal amount of its  7.52%
  Senior  Notes due 2008. A copy of the press release issued  by  the
  Registrant  is  attached hereto as Exhibit 1  and  is  incorporated
  herein by reference.
  
        Certain information included in this report contains forward-
  looking   statements  made  pursuant  to  the  Private   Securities
  Litigation Reform Act of 1995 ("Reform Act").  Such statements  are
  based  on  current expectations and involve a number of  known  and
  unknown risks and uncertainties that could cause the actual results
  and  performance  of the Registrant to differ materially  from  any
  expected  future results or performance, expressed or  implied,  by
  the forward-looking statements including expectations regarding the
  future  results of operations of Registrant and MidAmerican  Energy
  Holdings  Company and the combined company, the intended  financing
  of  the  merger and receipt of regulatory approvals.  In connection
  with  the  safe harbor provisions of the Reform Act, the Registrant
  has identified important factors that could cause actual results to
  differ  materially  from such expectations,  including  development
  uncertainty,   operating   uncertainty,  acquisition   uncertainty,
  uncertainties  relating to doing business  outside  of  the  United
  States,    uncertainties   relating   to   geothermal    resources,
  uncertainties  relating  to  domestic  and  international  (and  in
  particular,  Indonesian)  economic  and  political  conditions  and
  uncertainties  regarding  the impact  of  regulations,  changes  in
  government   policy,   industry   deregulation   and   competition.
  Reference is made to all of the Registrant's SEC Filings, including
  the  Proxy Statement and the Registrant's Report on Form 8-K  dated
  March  6, 1998, incorporated herein by reference, for a description
  of  such factors.  The Company assumes no responsibility to  update
  forward-looking information contained herein.
  
  Item 7.  Financial Statements and Exhibits
  
  Exhibit 1 - Press Release dated November 13, 1998
  
                             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.
  
                                     CalEnergy Company, Inc.
  
                                  By: \s\ Douglas L. Anderson
                                          Douglas L. Anderson
                                          Assistant Secretary and
                                          Assistant General Counsel
  
  Dated: November 13, 1998
  
                               EXHIBIT 1
  
  FOR IMMEDIATE RELEASE
  
  Craig M. Hammett - Senior Vice President, Chief Financial Officer 402-341-4500
  Craig Allen - Manager, Investor Relations 402-341-4500
  Patti McAtee-Director, Corporate Communications 402-341-4500
  Kate Inverarity - Brunswick 212-333-3810
  
   CalEnergy Announces Closing of $100 Million Senior Note Offering
                                   
        OMAHA,  NE,  November  13,  1998:   CalEnergy  Company,  Inc.
  ("CalEnergy"  or the "Company") (NYSE:  CE; PCX and LSE)  announced
  today  that it closed the sale of $100 million aggregate  principal
  amount  of its 7.52% Senior Notes due 2008.  The Senior Notes  were
  sold at a premium of 102.24% of the aggregate principal amount plus
  accrued  interest less assumed underwriting discount of 1.5%.   The
  Senior Notes are subject to optional redemption at any time at  par
  plus  payment of a make-whole premium.  The Senior Notes were rated
  BB+,  Ba1 and BB+ by Standard & Poor's, Moody's and Duff &  Phelps,
  respectively,  and  CalEnergy's long term senior  debt  remains  on
  credit  watch with positive implications for a possible upgrade  by
  all  three  rating  agencies following completion  of  the  pending
  MidAmerican Energy merger.
  
       The Company intends to use the net proceeds of the offering to
  fund  a  portion  of the pending acquisition of MidAmerican  Energy
  Holdings Company.  The balance of the MidAmerican purchase price is
  expected  to  be  funded from approximately  $830  million  of  net
  proceeds  from  the  Company's recent $1.4 billion  debt  offering,
  approximately  $740  million in net proceeds  from  a  contemplated
  offering  of debt  securities by a subsidiary company to be  formed
  to   acquire  MidAmerican,  with  the  remainder  funded   from   a
  combination  of  cash,  a contemplated offering  of  the  Company's
  equity securities and/or possible non-core asset sales.
  
        Craig  M.  Hammett, Senior Vice President and Chief Financial
  Officer,  stated,  "This incremental financing takes  us  one  step
  closer   toward  completion  of  the  financing  for  the   pending
  MidAmerican merger."
  
        Credit Suisse First Boston Corporation served as sole manager
  of the Senior Note Offering.
  
        CalEnergy  is a global energy company that manages  and  owns
  interests   in  over  5,000  net  megawatts  of  power   generation
  facilities  in  operation, construction and development  worldwide.
  The  Company  develops  and produces energy from  diversified  fuel
  sources   including  geothermal,  natural  gas  and  hydroelectric.
  Through  its  subsidiary Northern Electric, CalEnergy supplies  and
  distributes  electricity and gas to 2.0 million  customers  in  the
  United Kingdom.  CalEnergy conducts business in the U.S., U.K., the
  Philippines, Indonesia, Poland and Australia, and employs more than
  4,200  people  worldwide.  For the year ended  December  31,  1997,
  CalEnergy generated revenues of over $2.2 billion and had assets of
  approximately $7.5 billion.
  
        This  press release contains forward-looking statements which
  are  based  on  current  expectations  and  involve  a  number   of
  uncertainties.   Reference  is made to all  of  the  Company's  SEC
  filings, including the Company's Report on Form 8-K dated March  6,
  1998,  incorporated herein by reference, for a description of  such
  uncertainties.
  
                           www.calenergy.com
                                   
                                 # # #