Chemical

Industry Briefs

Kerr-McGee Corp.’s chemicals unit, New-Co Chemical Inc., has filed an initial public offering (IPO) for up to $300 million in Class A common stock. However, Kerr-McGee still holds an option to sell New-Co if the opportunity arises. The IPO or sale of the chemicals unit was announced earlier this year so the company could refocus its attention on oil and gas exploration and production (see NGI, May 16). About 90% of the chemicals sold by the unit last year were titanium dioxide, according to the company. In the Securities and Exchange Commission filing on the IPO, the Oklahoma City-based producer did not specify how many shares would be offered or the price of the shares. That information is expected to be disclosed in a later filing. The underwriters are Lehman Brothers and JP Morgan. Kerr-McGee said it wants the chemicals unit sold or spun off from the company by the end of the year.

June 13, 2005

Kerr-McGee Files IPO to Spin Off Chemicals Unit

Kerr-McGee Corp.’s chemicals unit, New-Co Chemical Inc., has filed an initial public offering (IPO) for up to $300 million in Class A common stock. However, Kerr-McGee still holds an option to sell New-Co if the opportunity arises.

June 8, 2005

Dow Signs 20-Year Deal for 500 MMcf/d LNG Capacity at Proposed TX Terminal

Dow Chemical has signed 20-year agreement for the liquefied natural gas (LNG) processing capacity at the proposed Freeport LNG import terminal, which is being built by Cheniere Energy and Contango Oil & Gas Co. on Quintana Island in Brazoria County, TX.

June 23, 2003

Dow Signs 20-Year Deal for 500 MMcf/d LNG Capacity at Proposed TX Terminal

Dow Chemical has signed 20-year agreement for the liquefied natural gas (LNG) processing capacity at the proposed Freeport LNG import terminal, which is being built by Cheniere Energy and Contango Oil & Gas Co. on Quintana Island in Brazoria County, TX.

June 23, 2003

Industry Briefs

Bridgeline Holdings LP, a partnership between Enron and Texaco, signed a deal to supply 165 Bcf of gas over five years to Occidental Chemical Corp.’s 778 MW cogeneration facilities in Taft, LA. Terms of the transaction were not released. Bridgeline operates 1,000 miles of pipeline from the Texas/Louisiana border to New Orleans, serving industrial and utility industry customers. It also has 13 Bcf of salt dome storage capacity in the region with broad access to significant Gulf of Mexico pipeline production and wellhead supply. Bridgeline said the deal is a key element in building on its strength to serve the new electrical generation demand throughout the region. This market requires firm, high-volume and deep-swing natural gas service to effectively meet the needs of this new class of merchant electricity generators. “We are eager to commence natural gas deliveries to the Taft facility and feel our unique combination of assets and merchant capabilities are well-positioned to serve this growing market,” stated Hugh H. Connett, vice president of marketing and supply for Bridgeline.

September 18, 2001

Manufacturers Add Natural Gas Surcharge

A New Jersey specialty chemical company and two Pennsylvaniasteel companies have announced they will be adding a natural gassurcharge that tracks NYMEX onto the sale price of their productsto reflect the increased cost of fueling the manufacturing process.

January 15, 2001

Manufacturers Add Nat Gas Surcharge

A New Jersey specialty chemical company and two Pennsylvaniasteel companies have announced they will be adding a natural gassurcharge that tracks NYMEX onto the sale price of their productsto reflect the increased cost of fueling the manufacturing process.

January 11, 2001

Cabot LNG to be Separated From Cabot Corp.

Cabot LNG, the energy division of the Boston-based industrial chemical manufacturer Cabot Corp., will be separated from the parent company with the issuance of a targeted stock as part of slimming and trimming “value enhancement” initiatives announced recently.

August 23, 1999

Cabot LNG to be Separated from Cabot Corp.

Cabot LNG, the energy division of the Boston-based industrialchemical manufacturer Cabot Corp., will be separated from theparent company with the issuance of a targeted stock as part ofslimming and trimming “value enhancement”initiatives announcedrecently.

August 17, 1999

CanadianOxy Sells Assets to Combat Low Prices

Canadian Occidental Petoleum Ltd., an independent global energyand chemical company, sold oil and gas properties worth $370million in order to take the bite out of low commodity prices, thecompany said Wednesday. This brings CanadianOxy’s 1998 propertysales to $630 million. The company did not disclose who bought theproperties. An additional $235 million of sales are expected beforethe end of January 1999.

December 21, 1998
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