Approximately

Industry Brief

A unit of Williams has sold an interest in a central Utahnatural gas property to Texaco Exploration and Production Inc. forapproximately $8 million. The non-operated interest includes 32producing wells and more than 30,000 net acres in the Ferroncoalbed methane play in Emery and Sevier counties. Williams saidthat Texaco is already the operator on most of the propertiesincluded in the transaction. “We’re designing our reserve basearound Williams’ infrastructure and merchant activities,” saidBryan Guderian, vice president of exploration and production forWilliams. “This allows us to support other parts of Williams’energy business, such as gathering and processing and trading. TheFerron assets simply fell outside our plan.”

March 21, 2001

Prima Acquires Utah Coalbed Play

Prima Energy Corp. reported last week that it has acquired orgained control of approximately 77,000 gross and 73,000 net acreson the Wasatch Plateau in central Utah, an area that has revealedsignificant coalbed methane (CBM) gas discoveries in the past.

March 12, 2001

Industry Brief

Kinder Morgan Energy Partners, L.P. announced it has purchasedDelta Terminal Services, Inc. for approximately $114 million incash. The acquisition “represents about half of the transactions weexpect to announce in December,” said Richard D. Kinder, KMPchairman, and brings to more than $2 billion the company’sannounced acquisitions this year. The Delta purchase includes twoliquid bulk storage terminals in New Orleans, LA, and Cincinnati,OH, providing services to producers of petroleum, chemicals andother products. “This acquisition is a great fit with our recentlyannounced GATX transaction — in which we acquired 12 terminalsacross the country — as it gives us liquids terminals in two newlocations, including access to the important Port of New Orleansmarket,” Kinder said. The New Orleans terminal has a storagecapacity of 2.5 million barrels, while the Cincinnati terminalholds 500,000 barrels.

December 6, 2000

CPUC Cites Dynegy; Urges FERC Keep Caps

Controversial arrangements between pipelines and marketers -similar to the one awarding Dynegy Marketing and Trade sole controlof 1.3 Bcf/d of the remaining unsubscribed capacity on El PasoNatural Gas – could proliferate if FERC should uncap prices in theshort-term capacity market without first ensuring that adequatesafeguards are in place for pipeline customers, Californiaregulators warned.

April 28, 1999

Bidweek Quotes Mostly Flat; Late March Mixed

Most sources were seeing bidweek prices running approximatelyflat Monday compared to the previous Friday, although a marketersaid some Southwest numbers were “up about a penny.” On the otherhand, a buyer who paid in the low $1.70s in the NGPL Midcontinentpool Friday said he was hearing of $1.69 deals Monday.

March 30, 1999

Market Softening Continues into Weekend

Prices continued to slump Friday by approximately the samedegree as they had Thursday. Declines for weekend flow ranged fromas little as a couple of cents to almost a dime, with most in theneighborhood of a nickel. Another screen drop was the maininfluence on cash, sources said, and even the forecasts of a newwinter storm developing over the weekend weren’t enough to avertmore softening.

March 15, 1999
1 14 15 16 Next ›