Nipsco Industries Inc. subsidiary Energy USA Inc. last week completed its acquisition of TPC Corp., including its 66% interest in Market Hub Partners LP. The deal was finalized April 1 and is valued at about $150 million.
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Sale of Florida Gas’ South Texas Line Opposed
Dynegy Inc. and Chevron Corp. want FERC to either block FloridaGas Transmission’s (FGT) proposed abandonment and sale of 70 milesof mainline and associated facilities in the southern part of Texasor “at a minimum” ensure the continuity of transportation servicethere.
Nipsco Finalizes TPC Acquisition
Nipsco Industries Inc. said subsidiary Energy USA Inc. completedits acquisition of TPC Corp., including its 66% interest in MarketHub Partners LP. The deal was finalized April 1 and is valued atabout $150 million.
Columbia Offers to Buy National Propane
In an effort to grow its nonregulated business sector, ColumbiaEnergy Group’s Columbia Propane Corp. recently announced a tenderoffer to acquire National Propane Partners for $80.4 million. Theoffer expires April 9. National Propane shareholders will vote inearly May.
Michigan’s CMS Powering Up in Wyoming’s Powder River
CMS Energy Corp. last week continued building what’s shaping up to be a Powder River Basin dynasty. Subsidiary CMS Continental Natural Gas agreed with Pennaco Energy, and CMS corporate affiliate CMS Oil and Gas to gather coal-bed methane gas from the Powder River Basin in Wyoming and Montana.
Unocal Selling Michigan Assets to Quicksilver
Unocal Corp.’s Spirit Energy 76 agreed to sell substantially allof its oil and gas assets in Michigan to Quicksilver Resources Inc.for $27 million cash and about $3 million in unregistered commonstock of Quicksilver.
Unocal Selling Michigan Assets to Quicksilver
Unocal Corp.’s Spirit Energy 76 agreed to sell substantially allof its oil and gas assets in Michigan to Quicksilver Resources Inc.for $27 million cash and about $3 million in unregistered commonstock of Quicksilver.
CMS Gathering Powder River Coal-bed Methane
CMS Energy Corp. subsidiary CMS Continental Natural Gas Inc.agreed with Pennaco Energy Inc., and CMS corporate affiliate CMSOil and Gas to gather coal-bed methane gas from the Powder RiverBasin in Wyoming and Montana. CMS Continental is to providelong-term, low-pressure gathering. The deal includes an acreagededication of more than 580,000 acres in the Powder River Basinwithin the previously announced CMS Oil and Gas/Pennaco Energy Areaof Mutual Interest.
Unitil Buys Into Internet Transactions
Unitil Corp. of Hampton, NH, acquired a minority interest inNorth American Power Brokers Inc. for $3 million in cash, and haslicensed and will deploy North American Power’s Internet-basedtechnology for electricity and gas sales to retail consumers.
Midcoast Targeting Canadian Midstream
Midcoast Energy subsidiary Midcoast Canada Operating Corp.bought the Calmar gas treating plant and gathering system inAlberta from Probe Exploration Inc. for C$20 million (US$13.2million). The company has its sights on similar acquisitions in thefuture.