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Dominion Resources has closed on the $780 million sale of Pittsburgh-based Dominion Peoples, its Pennsylvania natural gas distribution company, to PNG Companies LLC, an affiliate of SteelRiver Infrastructure Fund North America. Dominion Resources turned to SteelRiver Infrastructure after its plans to sell Peoples to Pittsburgh-based Equitable Resources fell through in mid-2008 (see Daily GPI, July 3, 2008). Dominion plans to use approximately $542 million in after-tax proceeds to reduce debt. Dominion Peoples provides gas service to about 359,000 residences and business in 32 counties in Pennsylvania.

Dominion Resources has closed on the $780 million sale of Pittsburgh-based Dominion Peoples, its Pennsylvania natural gas distribution company, to PNG Companies LLC, an affiliate of SteelRiver Infrastructure Fund North America. Dominion Resources turned to SteelRiver Infrastructure after its plans to sell Peoples to Pittsburgh-based Equitable Resources fell through in mid-2008 (see Daily GPI, July 3, 2008). Dominion plans to use approximately $542 million in after-tax proceeds to reduce debt. Dominion Peoples provides gas service to about 359,000 residences and business in 32 counties in Pennsylvania.

As a shivering North America closed out a week of brutal cold up North and unusual cold down South — with more to come over the weekend — reports of new peak day delivery records for natural gas pipelines were starting to trickle in.

Integrys Energy Services Inc. recently closed the first transaction in the two-part sale of its wholesale natural gas marketing business, parent Integrys Energy Group Inc. said last Monday. The deal involved the sale of substantially all of Energy Services’ wholesale gas marketing business to Sequent Energy Management LP.

Integrys Energy Services Inc. last Friday closed the first transaction in the two-part sale of its wholesale natural gas marketing business, parent Integrys Energy Group Inc. said Monday. The deal involved the sale of substantially all of Energy Services’ wholesale gas marketing business to Sequent Energy Management LP.

A $680 million financing closed Thursday for the proposed 1 Bcf/d Manzanillo liquefied natural gas (LNG) receiving terminal on the West Coast of Mexico in the state of Colima, according to the coalition lenders on the deal.

Houston-based Quantum Energy Capital LLC has closed its $2.5 billion Quantum Energy Partners V private equity fund, the firm said. “This fund represented a 90% increase from our last fund raised in 2006,” said Quantum CEO Wil VanLoh. “The strong response from the investor community during a very difficult fundraising environment is a testament to our track record, investment team and reputation for partnering with the energy industry’s top management teams.” Quantum targets investment opportunities between $100 million and $400 million primarily in the oil and gas upstream, midstream and power sectors but considers opportunities across the entire energy industry. Founded in 1998, Quantum has more than $5.7 billion of assets under management.

Shell Energy North America (Canada) Inc., a subsidiary of Shell Energy North America (US) LP, has closed on its acquisition of the Canadian natural gas and power customer contract portfolio of Integrys Energy Services of Canada Corp., a subsidiary of Integrys Energy Services Inc. The deal was announced in July (see Daily GPI, July 20). Effective Oct. 1 the customer contracts will be integrated into Shell Energy’s existing gas and power portfolio. Shell is one of the top North American gas marketers, according to NGI’s Top North American Gas Marketers ranking. In a separate transaction, Integrys Energy Services completed the sale of its 2 Bcf gas storage contract to TransCanada Gas Storage Partnership, a subsidiary of TransCanada Corp., one of the largest natural gas storage providers in North America with approximately 370 Bcf of capacity. With these transactions Integrys Energy Services has exited power and gas marketing in all provinces in Canada, leaving it only New Brunswick-based power generation and associated electricity production. As a result, Integrys Energy Group’s collateral support requirements, which include corporate guarantees, letters of credit and cash, are expected to be reduced by approximately $300 million by year-end 2009.

NGAS Resources Inc. of Lexington, KY, has closed the sale of its remaining 50% interest in 485 miles of Appalachian gas gathering facilities to Seminole Energy Services (SES) for $22 million. The purchase price was $7.5 million at closing, with the balance of $14.5 million payable by SES in monthly installments through December 2011. The sale completed a mid-July monetization of the initial half interest in the gathering system to a subsidiary of SES for $28 million and was triggered by NGAS’ exercise of put rights that it acquired at that time. “The sale of the remaining interest in this portion of our Appalachian gathering system provides further liquidity to take advantage of our significant development opportunities,” said NGAS CEO William S. Daugherty. “In addition to monetizing this asset and remaining as operator of the gathering system, our firm capacity rights ensure long-term deliverability for our Appalachian gas production.” The gathering system spans parts of southeastern Kentucky, eastern Tennessee and western Virginia, and interconnects with Spectra Energy Partners’ East Tennessee Natural Gas pipeline network. NGAS retained long-term operating rights and firm capacity rights of 30 MMcf/d in the gathering system.