Asset

The board of EXCO Resources Inc. has formed a special committee to consider a buyout proposal from CEO Douglas H. Miller. Evaluation of the offer — and any others that might come — is expected by analysts to take anywhere from six to 12 months.

Shale plays figured prominently in the third quarter performance of Denver-based QEP Resources as the company grew production by about 20% from the year-ago period.

Southern Union Co.’s Trunkline Gas Co. has signed a precedent agreement with DCP Midstream LLC to provide long-term, firm transportation service for liquids-rich gas. DCP Midstream will be the anchor shipper on a modified portion of the Trunkline system in South Texas focusing on Eagle Ford Shale production.

The timing and magnitude of the U.S. Gulf of Mexico (GOM) drilling recovery will be more “asset-specific” than any cyclical offshore drilling upswing in decades, the energy team at Raymond James & Associates said last week.

The timing and magnitude of the U.S. Gulf of Mexico (GOM) drilling recovery will be more “asset-specific” than any cyclical offshore drilling upswing in decades, the energy team at Raymond James & Associates said Monday.

Piedmont Natural Gas is soliciting bids for gas supply and asset management services beginning Nov. 1 for its North Carolina, South Carolina and Nashville, TN, operations. The Charlotte, NC-based utility said it buys more than 240 Bcf/year and has firm transportation contracts on the systems of Transcontinental Gas Pipe Line, Columbia Gulf and Columbia Gas Transmission, Texas Eastern Transmission, Tennessee Gas Pipeline and Midwestern Gas Transmission. Piedmont is seeking seasonal and year-round supply for contract terms yet to be determined. For information contact Keith Maust at (704) 731-4901 or Sarah Stabley at (704) 731-4907.

As part of a broader asset-shedding strategic plan, the Los Angeles Department of Water and Power’s (LADWP) interim general manager proposed selling the utility’s substantial natural gas reserves in Wyoming’s Pinedale Basin.

Majors and European-based international oil companies (IOC) invested heavily in U.S. onshore shale natural gas through both asset and corporate mergers and acquisitions (M&A) in 2009, lifting the percentage of global spending for the United States to more than 40% of worldwide transaction value, according to energy research firm IHS Herold.

Majors and European-based international oil companies (IOC) invested heavily in U.S. onshore shale natural gas through both asset and corporate mergers and acquisitions (M&A) in 2009, lifting the percentage of global spending for the United States to more than 40% of worldwide transaction value, according to energy research firm IHS Herold.