Buying

A landowner uprising is buying time for Canadian natural gas suppliers to mount a resistance campaign against a plan to import rival production from the United States.

Dynamic Offshore Resources LLC, which has been on a buying spree in the Gulf of Mexico (GOM) prior to the launch of an initial public offering (IPO), is paying ExxonMobil Corp. $182.5 million to acquire some offshore wells and properties that are 60% weighted to natural gas. The 13.5 million boe in new reserves would pump up Dynamic’s reserves base by nearly one-third (31%).

Western Gas Partners LP is buying the Bison gas treating facility and related assets in the Powder River Basin from Anadarko Petroleum Corp. for $130 million. “The cash flow profile of the Bison assets, which is 100% fee-based and entirely supported by demand charges, is a great addition to WES’ portfolio,” said Western Gas Partners CEO Don Sinclair. The Bison assets are in northeastern Wyoming and have a combined carbon dioxide treating capacity of 450 MMcf/d. Western Gas expects to finance the acquisition with $25 million of cash and the issuance of 2,950,284 common units to Anadarko and 60,210 general partner units to Western Gas Holdings LLC, the partnership’s general partner, at about $34.88/unit. The deal is expected to close early this month with an effective date of July 1, 2011.

DCP Midstream LLC is buying Seaway Products Pipeline Co. from ConocoPhillips in order to create natural gas liquids (NGL) transportation capacity from the Midcontinent to higher-value markets on the Texas Gulf Coast. In doing so it will be capitalizing on a durable spread in ethane prices between the two markets, analysts said last Thursday.

DCP Midstream LLC is buying Seaway Products Pipeline Co. from ConocoPhillips in order to create natural gas liquids (NGL) transportation capacity from the Midcontinent to higher-value markets on the Texas Gulf Coast. In doing so it will be capitalizing on a durable spread in ethane prices between the two markets, analysts said Thursday.

Aux Sable Liquid Products LP unit Sable NGL LLC is buying the Stanley Condensate Recovery Plant and Prairie Rose Pipeline from a unit of EOG Resources Inc., the company said Friday.

Michigan regulators on Wednesday announced a new series of regulations that will impact the future operations of oil and gas drillers using hydraulic fracturing (hydrofracking) to stimulate production.

Natural gas purchasers say they are switching more of their fleet vehicles to natural gas, adding transport capacity and are trying to stay organized and get the best deal for gas. But they are also increasingly concerned about the public perception of the safety of hydraulic fracturing (fracking) and its effects on the shale gas market.

Kinder Morgan Energy Partners LP (KMP) is buying Petrohawk Energy Corp.’s half of the companies’ Haynesville Shale midstream joint venture, KinderHawk Field Services, and also acquiring a 25% interest in Petrohawk’s gas gathering and treating business in the Eagle Ford Shale, the companies said.