Bought

AltaGas Services recently bought three Canadian processingfacilities and associated gathering lines worth $17.4 million,continuing the Calgary-based midstream company’s trek toward the$200 million growth-spending goal set at the beginning of 1999.With this purchase, AltaGas has spent and committed a total of $115million in its acquisitions and expansion program this year.

AltaGas Services bought three Canadian processing facilities andassociated gathering lines worth $17.4 million on Friday,continuing the Calgary-based midstream company’s trek toward the$200 million growth-spending goal set at the beginning of 1999.With this purchase, AltaGas has spent and committed a total of $115million in its acquisitions and expansion program so far this year.

Consolidated Natural Gas Co. E&P subsidiary CNG ProducingCo. agreed to buy interests in Lopeno and two adjacent South Texasgas fields. Earlier in the year, CNG Producing bought about a 50%interest in the Lopeno field, and together with the most recentpurchase, CNG Producing will own nearly 100%. On a combined basis,the company will pay $125 million for the two transactions.

Williams’ Transcontinental Gas Pipe Line (Transco) bought $119 million worth of pipe and compressor facilities for the MarketLink expansion Wednesday despite the project’s lack of final approval from FERC. Construction is scheduled to begin when MarketLink clears all its regulatory hurdles in the late spring or early summer of next year.

Williams’ Transcontinental Gas Pipe Line (Transco) bought $119million worth of pipe and compressor facilities for the MarketLinkexpansion Wednesday despite the project’s lack of final approvalfrom FERC. Construction is scheduled to begin when MarketLinkclears all its regulatory hurdles in the late spring or earlysummer of next year.

TNP Enterprises, the parent company of Texas-New Mexico PowerCo. (TNMP), was bought by a group of investors headed by WilliamCatacosinos, the former CEO of Long Island Lighting Co., for $1billion, including assumed debt, the parties announced last week.The deal, which TNP said was the first leveraged buyout of anelectric utility, is expected to close in six to nine months.

TNP Enterprises, the parent company of Texas-New Mexico PowerCo. (TNMP), was bought by a group of investors headed by WilliamCatacosinos, the former CEO of Long Island Lighting Co., for $1billion, including assumed debt, the parties announced yesterday.The deal, which TNP said was the first leveraged buyout of anelectric utility, is expected to close in six to nine months.

Koch Midstream Services Co. of Houston bought West Texasgathering and treating assets from Glossop Gas Co. Koch acquiredGlossop’s Chenot Putnam Gathering System and Treating Plant inPecos County, TX. The treating plant is capable of processing 10MMcf/d. The gathering system includes 33.5 miles of high-pressurepipeline. The system also includes existing production.

Semco Energy bought Iowa Pipelines Associates (IPA) for anundisclosed amount Monday, in the company’s initial move tostrengthen its gas construction services after exiting the gasmarketing business. IPA will continue to operate with its own name under the Semco Energy Ventures section of the company. Semco saidthe deal should close sometime this week. “By acquiring IowaPipeline Associates, we have expanded our capacity to providequality engineering and construction services for an ever-wideningcustomer base,” said William Johnson, Semco Energy’s CEO. Semcorevealed its strategy last month, when it sold its gas marketingassets to CoEnergy, an MCN affiliate, for an undisclosed amount.Johnson, said the sale allowed the company to concentrate onbecoming “one of the largest providers of underground engineeringand construction services in North America.” IPA builds undergroundnatural gas pipelines and local gas distribution networks forcustomers in Iowa, Kansas, Missouri, and Nebraska.