Williams reported Monday it signed a definitive deal to sell its Gulf Coast pipeline system, Texas Gas Transmission Corp., to a unit of Loews Corp. for $795 million in cash and the assumption of $250 million in debt.
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XTO to Buy 11% of Williams’ U.S. Proved Reserves in $400M Deal
XTO Energy Inc. has entered into a definitive agreement with units of Williams to pay $400 million for some natural gas and coalbed methane (CBM) producing properties located in the Raton Basin of Colorado, Hugoton Field of southwestern Kansas and the San Juan Basin of New Mexico and Colorado. XTO estimates proved reserves to be 311 Bcfe, of which 77% are proved developed.
Powder River Basin Gas Sells Majority Stake to Imperial Petroleum
Powder River Basin Gas Corp. (PRBG) said it has signed a definitive agreement to have a “majority percent” of its capital stock and management control acquired by Evansville, IN-based Imperial Petroleum Inc. The companies said they expect the deal to close on April 1.
Powder River Basin Gas Sells Majority Stake to Imperial Petroleum
Powder River Basin Gas Corp. (PRBG) said Tuesday that it has signed a definitive agreement to have a “majority percent” of its capital stock and management control acquired by Evansville, IN-based Imperial Petroleum Inc. The companies said they expect the deal to close on April 1.
Williams to Sell Central Pipeline in $555M Deal
As part of its ongoing effort to get back on its feet financially, Williams said it has signed a definitive agreement to sell its Central natural gas pipeline to Southern Star Central Corp. fo r total consideration of $555 million. Southern Star is owned by AIG Highstar Capital, LP, a private equity fund sponsored by American International Group, Inc.
Oneok Settles With Southwest Gas for $3 million
Oneok Inc. announced Friday it has reached a definitive agreement to pay Las Vegas-based Southwest Gas Corp. $3 million in settlement of a lawsuit between the two parties. The action was almost the final one in a legal wrangle that has gone on for three years among the two companies and Southern Union. On Wednesday Southwest Gas agreed to pay Southern Union $17.5 million to settle a lawsuit involving Southern Union’s failed plan to buy the gas company (see Daily GPI, Aug. 8).
Ameren Picks up AES’ Cilcorp in $1.4B Deal
In a deal worth $1.4 billion, Ameren Corp. signed a definitive agreement with AES Corp. last week to purchase Illinois-based Cilcorp Inc. for $540 million in cash and $860 million worth of debt and preferred stock. The transaction will make Ameren Illinois’ second largest electric utility, with a combined customer base of 600,000 electric and 400,000 natural gas customers in the state, including 1,200 MW of mostly coal-fired generating capacity.
Helmerich & Payne’s O&G Division to Join With Key Production Co.
Denver-based Key Production Co. Inc. and Helmerich & Payne, Inc. (H&P) announced Monday they have entered into definitive agreements to spin off and merge Helmerich & Payne’s oil and gas division with Key to form a new company, Cimarex Energy Co.
TEPPCO Partners Acquire Texas NGL Pipes for $130M
Texas Eastern Products Pipeline Company LLC, the general partner of TEPPCO Partners LP, last week signed a definitive agreement to acquire the Chaparral and Quanah natural gas liquids (NGL) pipelines from Diamond-Koch II LP and Diamond-Koch III LP. TEPPCO said the estimated $130 million transaction is expected to close in February.
Kinder Morgan to Buy Enron’s Share of Trailblazer
Kinder Morgan Energy Partners L.P. announced Wednesday it has signed a definitive agreement with Enron Trailblazer Pipeline Co. to acquire its 33.3% share for $68 million cash. This will give KMP 100% ownership in the 436-mile line out of the Rockies into the Midwest.