As part of its efforts to divest some of the company’s noncore assets, North American natural gas infrastructure specialist Spectra Energy said its Spectra Energy Midstream subsidiary has entered into an agreement with Keyera Facilities Income Fund (Keyera) under which Spectra Energy Midstream has agreed to sell all of its interests in the Nevis and Brazeau River natural gas gathering and processing facilities, located in Alberta, to Keyera for C$129 million.
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Spectra Energy Unloads Certain Alberta Midstream Assets for C$129M
As part of its efforts to divest some of the company’s noncore assets, North American natural gas infrastructure specialist Spectra Energy said its Spectra Energy Midstream subsidiary has entered into an agreement with Keyera Facilities Income Fund (Keyera) under which Spectra Energy Midstream has agreed to sell all of its interests in the Nevis and Brazeau River natural gas gathering and processing facilities, located in Alberta, to Keyera for C$129 million.
Industry Briefs
Bill Barrett Corp. announced plans last Wednesday to divest its Williston Basin oil and natural properties, beginning marketing efforts in early 2007 and closing during the second quarter. Production in the Williston Basin is approximately 1,200 boe/d or 5% of the company’s current production rate, the Denver, CO-based producer said. The company reported it has approximately 160,000 net undeveloped acres in the Williston Basin, and that proved reserves at year-end 2005 were approximately 32 Bcf equivalent. “Although we have been pleased with our progress in the Williston Basin thus far, we look forward to focusing our management effort and capital on other projects in our portfolio that should have a larger impact on our expected double-digit reserve and production growth,” said Fred Barrett, chairman and CEO of the company. Williston Basin is located along the eastern edge of the Rocky Mountains in western North Dakota, eastern Montana and southern Canada.
Bill Barrett Plans to Divest Williston Basin Properties in 2007
Bill Barrett Corp. announced plans Wednesday to divest its Williston Basin oil and natural properties, beginning marketing efforts in early 2007 and closing during the second quarter.
Exelon-PSEG Divestiture Plans Drawing Capacity Swap Interest
Companies are expressing an interest in swapping capacity in response to plans by Exelon and Public Service Enterprise Group Inc. (PSEG) to divest a total of 2,900 MW worth of fossil fuel facilities outlined in a merger-related filing made by Exelon and PSEG earlier this month at FERC, a top Exelon official said on Thursday.
AGL to Buy AEP’s LA Storage Assets for $94.3M
As part of its plan to divest assets that don’t fit its long-term strategy to focus on utility operations, American Electric Power (AEP) will sell its Jefferson Island Storage and Hub LLC to AGL Resources Inc. for $94.3 million.
AGL to Buy AEP’s LA Storage Assets for $94.3M
As part of its plan to divest assets that don’t fit its long-term strategy to focus on utility operations, American Electric Power (AEP) will sell its Jefferson Island Storage and Hub LLC to AGL Resources Inc. for $94.3 million.
Energy Services Shift From Large Corps to Niche Companies
As some of the big name energy merchants continue to divest themselves of energy service operations, smaller companies such as Richmond, VA-based Compass Energy Services Inc. and Framingham, MA-based Ameresco Inc. are filling in the niche by offering end users all-encompassing custom solutions for their energy needs. The trend is evident across the nation as companies like Duke Energy and Dominion Resources move away from some of their energy service business to focus more on their core competencies.
Williams Divests Three South Texas Gathering Systems
Continuing its plan to divest non-core assets and strengthen its balance sheet, Williams’ midstream gas and liquids group sold three natural gas gathering systems located in South Texas for $6 million to Hurd Investments of San Antonio and a subsidiary of Houston-based Copano Energy. The companies purchased Williams’ 76% partnership interest in the Webb-Duval system, and 100% ownership interests in the Olmitos and Cinco Compadres systems.
Williams Divests Three South Texas Gathering Systems
Continuing its plan to divest non-core assets and strengthen its balance sheet, Williams’ midstream gas and liquids group said late Thursday that it has sold three natural gas gathering systems located in south Texas for $6 million to Hurd Investments of San Antonio and a subsidiary of Houston-based Copano Energy. The companies purchased Williams’ 76% partnership interest in the Webb-Duval system, and 100% ownership interests in the Olmitos and Cinco Compadres systems.