Approvals

Kinder Morgan Inc. (KMI) said its $22 billion management-led buyout received approvals from regulators in Colorado, Nebraska and Wyoming, but the deal probably won’t be completed until August because of a procedural schedule recently released by the California Public Utilities Commission (CPUC), which also must approve the transaction.

WPS Resources Corp. and Peoples Energy Corp. said last week that they have made progress toward obtaining the approvals needed to close their proposed $1.52 billion merger, including a resolution of issues with all complaining parties in Illinois. The companies added that the proposed merger remains on track for completion during the first quarter of 2007 (see NGI, July 17, 2006).

WPS Resources Corp. and Peoples Energy Corp. said Tuesday that they have made progress toward obtaining the approvals needed to close their proposed $1.52 billion merger, including a resolution of issues with most intervening parties in Illinois. The companies added that the proposed merger remains on track for completion during the first quarter of 2007 (see Daily GPI, July 7, 2006).

ConocoPhillips said it expects its first quarter production to be flat with levels in the fourth quarter of 2004, but production for the year is expected to rise 3% compared to 2004 levels, excluding its 11.3% investment in Lukoil.

Goldman Sachs Group has agreed to acquire Zilkha Renewable Energy, the two companies said on Monday. The transaction is subject to regulatory approvals, is expected to close in the second quarter of 2005 and the sale price was not disclosed.

Shareholder approvals in hand, Dallas-based Pioneer Natural Resources Co. and Evergreen Resources Inc. last week completed their $2.1 billion merger. Evergreen, which will keep its Denver offices as a base of operations for Rocky Mountain operations, is now a Pioneer subsidiary.

Shareholder approvals in hand, Dallas-based Pioneer Natural Resources Co. and Evergreen Resources Inc. on Tuesday completed their $2.1 billion merger. Evergreen, which will keep its Denver offices as a base of operations for Rocky Mountain operations, is now a Pioneer subsidiary.

Two West Coast liquefied natural gas (LNG) projects moved forward last week. Privately held Crystal Energy LLC of Houston announced Wednesday that it signed a preliminary agreement for Alaskan LNG supplies and will be filing an application with U.S. Coast Guard to transform an existing offshore oil platform along the Southern California coast into an LNG receiving terminal, and Mitsubishi Corp.’s U.S. subsidiary, Sound Energy Solutions (SES), last Monday filed at FERC seeking an environmental impact report on its proposed receiving terminal in Long Beach Harbor.

A second West Coast liquefied natural gas (LNG) project has moved forward this week. Privately held Crystal Energy LLC of Houston announced Wednesday that it has signed a preliminary agreement for Alaskan LNG supplies and will be filing an application with U.S. Coast Guard to transform an existing offshore oil platform along the Southern California coast into an LNG receiving terminal.