Agreements

Crescent Point Energy Trust said that it has executed agreements to acquire all of the issued and outstanding shares of a private Alberta-based oil and gas company for a total consideration of C$81 million, which includes the assumption of C$4 million of net debt.

Crescent Point Energy Trust said Monday that it has executed agreements to acquire all of the issued and outstanding shares of a private Alberta-based oil and gas company for a total consideration of C$81 million, which includes the assumption of C$4 million of net debt.

Williams has signed three agreements to sell off its entire remaining business interests in Alaska for a total of $265 million in cash, subject to closing adjustments. The transactions will eliminate two cash-collateralized letters of credit that Williams has with the state, releasing $90.9 million back to the company.

Williams has signed three agreements to sell off its entire remaining business interests in Alaska for a total of $265 million in cash, subject to closing adjustments. The transactions will eliminate two cash-collateralized letters of credit that Williams has with the state, releasing $90.9 million back to the company.

Sunoco Logistics Partners LP said Monday that it has reached definitive agreements to acquire interests in two natural gas liquids (NGL) pipelines from the Williams Companies. The interests include a 37.35% share in Wilprise Pipeline Co. LLC. and a 16.67% stake in Tri-States NGL Pipeline LLC.

A recent decision by FERC to set for hearing a series of power purchase agreements (PPAs) filed by Entergy Services Inc. and various affiliates will have an effect on how quickly the company can “get through” all of the various power supply acquisitions that the utility is considering, a top executive with Entergy Corp. acknowledged last Monday.

Continuing a string of agreements to up its financial stake in strategically located U.S. oil and gas assets, junior independent Energas Resources Inc. on Tuesday announced it had secured an option agreement from the Thomas Dorough Trust to explore 4,320 acres in the Wind River Basin of Wyoming. Under the agreement, Energas will be able to earn the acreage by drilling certain portions within the next two years.

Cheniere Energy Inc. has closed on two investment agreements for 70% interest in its proposed Freeport, TX liquefied natural gas (LNG) receiving terminal project, bringing the facility one step closer to fruition. The Houston-based Cheniere will retain a 30% interest. In one agreement, Cheniere will sell a 60% stake to Freeport Investments LLC. Freeport Investments, run by Michael S. Smith, agreed to pay Cheniere $5 million in four installments and contribute an additional $9 million for development of the project without further capital contribution by Cheniere. Cheniere and Smith’s company formed Freeport LNG Development LP, a to develop the project. Smith is the CEO of Freeport LNG Development LP. Also, Houston-based Contango Oil & Gas Co. has exercised its option to acquire a 10% interest in the proposal for $2.3 million, payable in installments. Since acquiring the option on the Freeport site, Cheniere has conducted technical, feasibility, marketing, engineering and environmental studies to validate the project. The company holds a 30-year lease at the site and expects to file its application with the Federal Energy Regulatory Commission in March. Cheniere also has secured options on three additional sites for LNG receiving terminals in Sabine Pass, Corpus Christi and Brownsville, TX.

The financial storm enveloping Aquila Corp. — cuts in its credit rating to below investment grade, forced asset sales, restructuring of its operations and widespread federal investigations into its trading — will have “possible negative impacts” on the company’s regulated natural gas distribution facilities and power utilities in Missouri, but an immediate rate hike doesn’t appear to be in the cards for customers, according to a Missouri Public Service Commission staff report.