Closes

A little over two months after it announced the initial agreement, Anadarko Petroleum Corp. said Friday that it has completed its $258 million acquisition of Howell Corp., a Houston-based oil and gas exploration and production company (see Daily GPI, Oct. 1).

Newfield Exploration Co. completed its $640 million merger transaction with EEX Corp. last week. EEX will become a subsidiary of Newfield and will be named Newfield Exploration Gulf Coast Inc. (see NGI, June 3). More than 98% of the common shares voted were in favor of the transaction.

Newfield Exploration Co. said Tuesday that it has completed its merger transaction with EEX Corp. Under the $640 million deal first reported in May, EEX becomes a subsidiary of Newfield and will be named Newfield Exploration Gulf Coast Inc. (see Daily GPI, May 31). More than 98% of the common shares voted were in favor of the transaction.

Marketing and risk management losses in the third quarter more than offset an earnings increase from ongoing core businesses, Williams Companies said Thursday. The company recorded an unaudited third quarter 2002 net loss of $294.1 million, or 58 cents per share, compared with restated net income of $221.3 million, or 44 cents per share, for the same period last year.

CenterPoint Energy Inc. late Tuesday said that its electric utility subsidiary, CenterPoint Energy Houston Electric LLC, closed its previously announced $1.31 billion senior secured credit facility with Warren Buffett’s Berkshire Hathaway and Credit Suisse First Boston. The loan guarantees that the Houston-based utility will meet a key November payment deadline and maintain a $4.7 billion credit facility.

Aquila Inc. said Monday that it has completed the previously announced $265 million sale of its Southeast Texas and Mid-Continent natural gas pipeline systems and natural gas and gas liquids processing assets, as well as its 50% stake in the Oasis pipeline system, to Energy Transfer Co. The company added that it received approximately $221 million in cash from the privately held, Dallas-based company at closing.

Piedmont Natural Gas reported Tuesday that it has closed on its purchase of North Carolina Gas Service (NCGS), the North Carolina natural gas distribution division of NUI Corp., for approximately $26 million. First announced in mid-May, the sale agreement has received all necessary regulatory approvals (see Daily GPI, May 16).

CMS Energy Corp. announced last Monday it has closed a sale of the stock of CMS Oil and Gas Co. and its affiliate, CMS Oil and Gas (International), for $167 million to Perenco, a privately-held European exploration and production company, putting CMS close to its goal of raising $2.9 billion through asset sales.

CMS Energy Corp. announced Monday it has closed a sale of the stock of CMS Oil and Gas Co. and its affiliate, CMS Oil and Gas (International), for $167 million to Perenco, a privately-held European exploration and production company, putting CMS close to its goal of raising $2.9 billion through asset sales.