The Delaware Court of Chancery has granted a motion by The Williams Companies Inc. to expedite litigation it initiated against Energy Transfer Equity LP (ETE), which challenges a private offering of Series A Convertible Preferred Units that ETE disclosed on March 9. Williams sued ETE and CEO Kelcy Warren, in two separate lawsuits, over the matter earlier this month (see Daily GPI,April 6). The litigation against ETE seeks to unwind the private offering. The litigation against Warren, in the district court of Dallas County, TX, is for wrongful interference, through the private offering, with a merger agreement executed in September 2015 (see Daily GPI,Sept. 28, 2015). The Williams board still supports the merger, the company said.
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Black Hills Narrows E&P Focus to Utility Reserves Program
With poor results from its exploration and production (E&P) business, Rapid City, SD-based Black Hills Corp. officials said Wednesday the company is narrowing exploration activity to the proposed cost-of-service natural gas reserves programs to serve its utilities (see Daily GPI,Oct. 5, 2015).
February 5, 2016
Arkansas OKs Black Hills’ SourceGas Utility Buy
Arkansas regulators have approved Black Hills Corp.’s acquisition of SourceGas Holding LLC’s natural gas utility in South Dakota as part of $1.89 billion, four-state deal announced last summer.
January 19, 2016
Black Hills Narrows E&P Focus, Proceeding With NatGas Reserves Utility Program
Saddled with more impairment charges for its exploration and production (E&P) business, Rapid City, SD-based Black Hills Corp. senior executives said Wednesday they plan to narrow their focus to the Piceance Basin. The company also is moving forward on its plan to use natural gas reserves programs for its utilities in eight states.
November 5, 2015
More Impairments Coming For Black Hills E&P Unit, But Mancos Still Eyed
Rapid City, SD-based Black Hills Corp. senior executives told a gathering of Wall Street analysts Thursday that more impairment charges are coming from the impact of depressed crude oil prices on the company’s exploration and production (E&P) operations.
October 9, 2015
Small Bakken E&P Sets Joint Venture With Private Equity Firm
In a move that may be replicated more if low global crude oil prices persist, Minnesota-based and Bakken-focused Black Ridge Oil & Gas Inc. said Thursday it has agreed to form a $50 million joint venture (JV) unit with Merced Capital, a private equity firm specializing in value-based alternative investments.
July 28, 2015
Black Hills’ $1.89B SourceGas Purchase to Add 425,000 NatGas Utility Customers
In a deal that will more than double its utility customers in eight states adding an opportunity to expand its program of providing reserves for ratepayers from its exploration and production (E&P) segment, Rapid City, SD-based Black Hills Corp. has agreed to acquire SourceGas Holding LLC for $1.89 billion.
July 13, 2015
NGI The Weekly Gas Market Report
Black Hills’ $1.89B SourceGas Purchase to Add 425,000 NatGas Utility Customers
In a deal that will more than double its utility customers in eight states adding an opportunity to expand its program of providing reserves for ratepayers from its exploration and production (E&P) segment, Rapid City, SD-based Black Hills Corp. has agreed to acquire SourceGas Holding LLC for $1.89 billion.
July 13, 2015
Black Hills Pursuing Utility NatGas Reserve Program Via E&P Unit
Rapid City, SD-based Black Hills Corp. is developing a program for some of its utilities in seven states to initiate ratepayer purchases of natural gas reserves from its exploration and production (E&P) segment.
February 5, 2015
Black Hills Seeing More Red in Oil, Gas Operations
Even with some robust quarter-over-quarter production growth, particularly in crude oil and natural gas liquids (NGL), Rapid City, SD-based Black Hills Corp.’s oil/natural gas operations continued to operate in the red, reporting small losses Wednesday for both the 2Q2014 and first half of the year.
August 8, 2014
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