Florida-based TECO Energy, a natural gas and electric utility holding company, said Tuesday it has entered into a definitive stock purchase agreement with its privately held parent company to purchase New Mexico Gas Co., that state’s principal gas utility. The aggregate value of the deal is $950 million, including the assumption of $200 million of the New Mexico utility’s debt.
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QEP Energy Adds Another Bakken Property from Unit Corp.
Tulsa, OK-based Unit Corp. said Friday its petroleum subsidiary has closed a previously announced sale of a little more than one-third of its interest in Bakken Shale properties to QEP Energy for $228 million. The deal was final as of July 1, 2012.
October 1, 2012
El Paso E&P Sold for $7.15B to Private Equity Group
Late Friday El Paso Corp. announced that it entered into a definitive agreement to sell its exploration and production (E&P) unit, EP Energy Corp., for close to $7.15 billion to affiliates of Apollo Global Management LLC and Riverstone Holdings LLC, as well as Access Industries Inc. and other parties.
February 27, 2012
El Paso E&P Sold for $7.15B to Private Equity Group
Late Friday El Paso Corp. announced that it entered into a definitive agreement to sell its exploration and production (E&P) unit, EP Energy Corp., for close to $7.15 billion to affiliates of Apollo Global Management LLC and Riverstone Holdings LLC, as well as Access Industries Inc. and other parties.
February 27, 2012
Williams Looks to Expand in Marcellus
Tulsa-based Williams Partner LP is negotiating to buy Delphi Midstream Partners LLC, which among other things would give the natural gas operator ownership of the Laser Gathering System and other facilities that serve the Marcellus Shale.
December 5, 2011
Enterprise: Former Partner Wasn’t Spurned
A lawsuit filed by Energy Transfer Partners LP against Enterprise Products Partners LP and Enbridge Inc. over an abandoned proposal to construct an oil pipeline from Cushing, OK, to Houston “is about a company…trying to get in the courthouse what it could not achieve in the marketplace,” Enterprise said in a motion for summary judgment.
October 11, 2011
Southern Union in the Catbird Seat, Agrees to Talks with Williams
An agreement to merge with Energy Transfer Equity LP (ETE) may be in place, but Southern Union Co. agreed Friday to discuss a higher offer from Williams.
July 18, 2011
Vanguard to Acquire the Rest of Encore Energy
Encore Energy Partners LP is to become a wholly owned subsidiary of Vanguard Natural Resources LLC’s operating company, Vanguard Natural Gas LLC, through a unit-for-unit exchange that would give Vanguard the rest of Encore it doesn’t already own, the companies said Monday.
July 12, 2011
Progress Energy Sells Montney Stake to Malaysia’s Petronas
Calgary-based Progress Energy Resources Corp.’s chief executive said Thursday the company has found a “critical” partner to help market its natural gas in the Montney Shale of British Columbia after securing Malaysia’s national oil company Petronas (Petroliam Nasional Berhad) in a joint venture (JV) valued at about C$1.07 billion.
June 3, 2011
Dejour to Drill Vertical Test Well into Niobrara in May
Dejour Energy Inc. announced Monday that it plans to drill its first vertical test well into the Niobrara formation of the Mancos Shale play in May.
April 28, 2011
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