Heritage Propane Partners LP said it has received consents and approvals required to complete its previously announced purchase of Dallas-based midstream operator Energy Transfer Co. (see Daily GPI, Nov. 10). The transactions are still subject to other conditions, including Heritage obtaining financing. “The lenders under our existing credit agreements have agreed to amendments that allow Heritage to proceed with its combination with Energy Transfer,” said Heritage CEO H. Michael Krimbill. “In addition, we had previously filed premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act and have received notice that the Federal Trade Commission has granted early termination of the waiting period.” The series of transactions is expected to close within the next 60 days. Heritage is the fourth largest propane retailer in the United States, serving more than 650,000 customers from nearly 300 customer service locations in 29 states. Energy Transfer operates 4,500 miles of gas gathering and transportation pipelines with an aggregate throughput capacity of 2.5 Bcf/d and natural gas treating and processing assets in Texas, Oklahoma and Louisiana.
Approvals
Articles from Approvals
Transco, ANR, Tennessee Pipeline Projects Get Green Lights
The Federal Energy Regulatory Commission gave approvals last Wednesday for Transcontinental Gas Pipe Line Corp., ANR Pipeline and Tennessee Gas Pipeline to move forward with pipeline projects to serve new power generation plants in the East, Midwest and Mexico.
Transco, ANR, Tennessee Pipeline Projects Get Green Lights
The Federal Energy Regulatory Commission gave approvals Wednesday for Transcontinental Gas Pipe Line Corp., ANR Pipeline and Tennessee Gas Pipeline to move forward with pipeline projects to serve new power generation plants in the East, Midwest and Mexico.
TransCanada PipeLines Ltd. Creates Corporate Parent
TransCanada Corp. said that the plan of arrangement to establish it as the parent company of TransCanada PipeLines Ltd. has received all necessary regulatory approvals and certificates. As a result, the agreement went into effect Thursday.
Aquila Seeks State Approvals to Use Utility Assets as Collateral
Aquila Inc. last week filed applications with five state regulatory commissions seeking approval to use state utility assets as collateral for the working capital requirements of its utility operations.
CA Muni Coalition Builds Power Plant in Middle LA Basin
The 310 MW public sector power plant that received final state approvals earlier this month, Magnolia Power Project, owes its status as the first baseload facility to be built in years in the center of the Los Angeles Basin to a readily available and flexible natural gas and water infrastructure that could only be found at an existing urban power plant site in a heavy industry sector.
Puget Sound Energy Seeks Third Gas Rate Cut
Bellevue, WA-based Puget Sound Energy said Monday it was seeking state regulatory approvals for a third natural gas utility rate cut for the year, lowering overall rates by another 12.5%. If the Washington state Utilities and Transportation Commission okays the latest request, gas rates for the year will go down by about 28%, the combination electric-gas utility subsidiary of holding company Puget Energy said.
Industry Briefs
After it had obtained all of the necessary regulatory approvals, Burlington Resources Inc. said Tuesday that it has received acceptance of its C$53.00 per share cash tender offer to acquire all the common shares of Canadian Hunter Exploration Ltd. by Canadian Hunter’s shareholders. A total of 58.7 million shares of Canadian Hunter common stock were tendered under the offer. The deal represents more than 98% of Canadian Hunter’s shares outstanding. Burlington said it intends to take up the tendered shares immediately. Burlington said it would acquire the remaining shares of Canadian Hunter by compulsory acquisition for C$53.00 per share in cash. “Canadian Hunter’s performance continues to exceed expectations, and the completion of this transaction further establishes Burlington as a significant player in Canada,” said Bobby S. Shackouls, Burlington CEO. “Our combined entities are uniquely positioned for future profitable growth, and we are delighted to welcome Canadian Hunter’s employees to the Burlington Resources family.”
Calpine, Bechtel Plan 600 MW San Francisco Plant
Under an ongoing partnering agreement, Calpine Corp., the voracious San Jose, CA-based power plant developer, and a part of the venerable San Francisco-based international infrastructure builder, Bechtel, applied to the California Energy Commission Wednesday to build and operate a 600 MW natural gas-fired power plant in the East San Francisco Bay town of Hayward.
Berkley: Fort Liard Well Soon to Produce
With regulatory approvals expected soon to tie into a nearbypipeline, the N-01 well at Fort Liard in the Northwest Territoriesshould begin producing by the second quarter, according to one ofthe operators, Berkley Petroleum Corp. Berkley operates the wellwith partners Forest Oil Corp. and Paramount, with each holding a33.33% interest. Paramount operates the pipeline.
