Bought

Gateway Energy Corp. bought offshore pipelines from Gulfshore Midstream Pipelines Ltd. extending from the western and central Gulf of Mexico (GOM) in water depths of 50-650 feet and currently gathering about 60,000 Mcf/d of gas from 56 wells, the company said Thursday.

Anadarko Petroleum Corp. (APC), which has been selling off noncore North American properties since it bought Kerr-McGee Corp. and Western Gas Resources last year, last week sold a group of Central and East Texas natural gas-weighted assets to several buyers for $750 million. Only one buyer, EV Energy Partners LP (EVEP), was disclosed.

Anadarko Petroleum Corp. (APC), which has been shedding noncore North American properties since it bought Kerr-McGee Corp. and Western Gas Resources last year, on Monday sold a group of Central and East Texas natural gas-weighted assets to several buyers for $750 million. Only one buyer, EV Energy Partners LP (EVEP), was disclosed.

A record number of residential gas customers, about 4.2 million, bought gas from retail marketers rather than their regulated utilities last December, according to an update to the Energy Information Administration’s (EIA) summary of natural gas residential choice programs nationwide. EIA said enrollment in customer choice programs rose 8% last year, with Ohio and New York showing the largest gains.

A record number of residential gas customers, about 4.2 million, bought gas from retail marketers rather than their regulated utilities last December, according to an update to the Energy Information Administration’s (EIA) summary of natural gas residential choice programs nationwide. EIA said enrollment in customer choice programs rose 8% last year, with Ohio and New York showing the largest gains.

Barclays Capital, the investment banking division of Barclays plc, said it bought a 40% stake in private equity firm NGP Energy Capital, giving Barclays a bigger stake in the North American energy capital management business. The deal follows Barclays Capital’s assumption of Duke Energy North America’s natural gas and power derivative contracts last November (see NGI, Nov. 21, 2005).

Barclays Capital, the investment banking division of Barclays plc, said it bought a 40% stake in private equity firm NGP Energy Capital, giving Barclays a bigger stake in the North American energy capital management business. The deal follows Barclays Capital’s assumption of Duke Energy North America’s natural gas and power derivative contracts last November (see Daily GPI, Nov. 21, 2005).

Shareholders in a closely held former independent power producer bought six years ago by South Dakota-based Black Hills Corp. received a Chicago federal judge’s permission to continue pursuing $27.5 million they allege the diversified energy holding company owes them. The case involves a disputed part of the transaction involving “earn-out” provisions of the acquired unit, Indeck Capital, Inc., that sparked the initial lawsuit Aug. 11, 2004.

Frisco, TX-based Comstock Resources Inc. said it bought 20.2 Bcfe of proved gas and oil reserves in the Las Hermanitas field in Duval County in South Texas from Denali Oil & Gas Partners LP, Stalker Energy LP and other working interest owners for $67.2 million. The properties include three producing wells that are producing 6.4 MMcf/d of gas. Comstock said 43% of the proved reserves are in the proved developed category. The undeveloped proved reserves are in four locations. Future development costs are estimated to total $17.5 million. In addition to the proved reserves, Comstock estimates that the properties have probable reserves of 14.7 Bcf in eight additional drilling locations. Comstock also has identified an additional six possible drilling locations with an 8 Bcf of reserves. “This transaction will build up our South Texas operating region and has substantial upside beyond the proved reserves from the 18 identified drilling locations,” said Comstock CEO M. Jay Allison. The transaction is expected to close in September 2006 and will be funded with borrowings under Comstock’s bank credit facility.