Range Resources said Tuesday it paid $219 million for an unnamed company with 205 Bcfe of Appalachian oil and gas reserves, 99% of which are natural gas and only 40% of which are developed. Range said the acquisition involves the legacy oil and gas assets of an eastern coal company that date back almost a century. More than 80% of the reserves are coalbed methane.
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Pogo Adds 90 Bcfe of West Texas Reserves for $208M
Pogo Producing Co. said it purchased the stock of a private company with about 90 Bcfe of proven West Texas gas reserves for $208 million, including $35 million of assumed debt. The acquisition is expected to be immediately accretive to Pogo’s earnings, cash flow, production and reserves per share, the company said. It expects to finance the acquisition with available cash and bank debt.
November 12, 2004
Pogo Adds 90 Bcfe of West Texas Reserves for $208M
Pogo Producing Co. said it purchased the stock of a private company with about 90 Bcfe of proven West Texas gas reserves for $208 million, including $35 million of assumed debt. The acquisition is expected to be immediately accretive to Pogo’s earnings, cash flow, production and reserves per share, the company said. It expects to finance the acquisition with available cash and bank debt.
November 12, 2004
TransCanada Adds Two Major U.S. Pipelines to Its Asset Base
TransCanada Corp. CEO Hal Kvisle stressed the stability of existing Western Canadian gas production and the promise of new supply from the Mackenzie Delta and Alaska in announcing the completion of its purchase of Gas Transmission Northwest Corp. (GTNC) from National Energy & Gas Transmission Inc. (NEGT) for US$1.7 billion, including US$500 million of assumed debt.
November 8, 2004
TransCanada Adds Two Major U.S. Pipelines to Its Asset Base
TransCanada Corp. CEO Hal Kvisle stressed the stability of existing Western Canadian gas production and the promise of new supply from the Mackenzie Delta and Alaska in announcing the completion of its purchase of Gas Transmission Northwest Corp. (GTNC) from National Energy & Gas Transmission Inc. for US$1.7 billion, including US$500 million of assumed debt.
November 2, 2004
TransCanada Adds Two Major U.S. Pipelines to Its Asset Base
TransCanada Corp. CEO Hal Kvisle stressed the stability of existing Western Canadian gas production and the promise of new supply from the Mackenzie Delta and Alaska in announcing the completion of its purchase of Gas Transmission Northwest Corp. (GTNC) from National Energy & Gas Transmission Inc. for US$1.7 billion, including US$500 million of assumed debt.
November 2, 2004
Mackenzie Valley Gas Project Adds Capacity, Costs
Costs are up by 40% and an aboriginal lawsuit clouds the outlook for the regulatory process, but strong supply needs and prices convinced the Mackenzie Gas Project to press ahead by filing construction applications (see Daily GPI, Oct. 8).
October 11, 2004
Houston Exploration Adds 79 Bcfe of Gulf Gas Reserves
The Houston Exploration bought about 79 Bcfe of Gulf of Mexico gas reserves in two asset packages on Wednesday from an undisclosed company for a total of about $145 million.
September 23, 2004
Western Adds 60 Bcf of CBM Reserves in San Juan for $82M
Western Gas Resources said it bought about 60 Bcf of proved gas reserves in the San Juan Basin on about 24,000 net acres from an undisclosed seller for $82.2 million. The property currently has about 100 coalbed methane (CBM) wells that are producing 12.6 MMcf/d (9.3 MMcf/d net).
July 23, 2004
Husky Adds 29 Bcfe of Reserves with $115M Temple Purchase
Calgary-based Husky Energy Inc. said it has purchased privately-held Temple Exploration Inc. for C$115 million. The deal give Husky an additional 4,400 boe/d of oil and gas production (19 MMcf/d of gas and 1,284 bbl/d of oil) for the remainder of 2004 and about 29 Bcfe of proven reserves with additional future exploration growth potential.
July 19, 2004
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