Buys

Among assets slated to be sold by Kinder Morgan Inc. (KMI) to win antitrust clearance for its acquisition of El Paso Energy Corp., the “only meaningful” buys are the 50% stake in the Rockies Express Pipeline (REX) and KMI’s Kinder Morgan Interstate Gas Transmission (KMIGT), an industry analyst said Friday. And it’s not because of what they are now, but what they could become.

In a story titled “Aussie Consortium Buys Majority Stake in NGPL System” in last Friday’s edition of NGI’s Daily Gas Price Index, we reported that Australia-based investment group Babcock and Brown Ltd. was leading a consortium to buy the majority stake in MidCon, which owns the Natural Gas Pipeline Company of America (NGPL), in a $7.6 billion transaction. The actual transaction value is $6.6 billion. NGI regrets the error.

It sounds simple: to lower the price consumers pay for natural gas, give the local distribution company (LDC) incentives for saving money when it buys the gas on consumers’ behalf.

It sounds simple: to lower the price consumers pay for natural gas, give the local distribution company (LDC) incentives for saving money when it buys the gas on consumers’ behalf.

Enterprise Products Partners LP announced Monday it added more El Paso Corp. properties to its portfolio with the purchase of two East Texas natural gas subsidiaries. Enterprise paid $74.5 million for the natural gas gathering system and natural gas cryogenic processing plant, and the acquisition is expected to be immediately accretive to cash flow in 2005.

Two subsidiaries of Tulsa-based SemGroup L.P. collected new properties last week. SemCanada, L.P. announced Thursday it signed a definitive purchase and sale agreement to buy Central Alberta Midstream (CAMS), the largest licensed sour gas processor in Alberta, from BP Canada Energy and Chevron Canada Resources (CCR). Earlier SemGas L.P. said it acquired a second natural gas storage project in New York State.

SemCanada, L.P., a subsidiary of the privately-held SemGroup L.P., announced Thursday it signed a definitive purchase and sale agreement to buy Central Alberta Midstream (CAMS), the largest licensed sour gas processor in Alberta, from BP Canada Energy and Chevron Canada Resources (CCR), Canadian subsidiary of ChevronTexaco Corp.

Berry Petroleum Co. will pay $110 million to purchase more than 130,000 acres of natural gas-rich properties in the Niobrara fields in northeastern Colorado from J-W Operating Co. and other undisclosed sellers. The company, as operator, will have a working interest of approximately 52%.

Berry Petroleum Co. will pay $110 million to purchase more than 130,000 acres of natural gas-rich properties in the Niobrara fields in northeastern Colorado from J-W Operating Co. and other undisclosed sellers. The company, as operator, will have a working interest of approximately 52%.