Enterprises

In what can only be called a sign of the times for North American imports of liquefied natural gas (LNG), consultancy Pan EurAsian Enterprises Inc. said Monday it is no longer going to bother tracking daily sendout from nearly a dozen terminals. “There is a lot else going on in the world of global LNG that should be getting more of our attention,” the firm told clients in a note.

U.S. imports of liquefied natural gas (LNG) last year continued the downward trend that began in 2009, according to data compiled by Pan EurAsian Enterprises Inc. Last year’s imports were well less than half of what they were in 2007, the peak year for imports, and they were slightly less than the level seen in 2008.

An investor group led by Kohlberg Kravis Roberts & Co. LP (KKR) has agreed to pay $7.2 billion for Samson Investment Co. of Tulsa, one of the largest privately held exploration and production (E&P) companies in the United States. The deal gives KKR and its partners stakes in a number of unconventional resources plays.

Exporting liquefied U.S. natural gas to world markets is a “feasible” but “tenuous” proposition, according to analysts at Pan EurAsian Enterprises. If the United States does become a liquefied natural gas (LNG) exporter, “it is likely to be a supplier at the margins,” they said.

Exporting liquefied U.S. natural gas to world markets is a “feasible” but “tenuous” proposition, according to analysts at Pan EurAsian Enterprises. If the United States does become a liquefied natural gas (LNG) exporter, “it is likely to be a supplier at the margins,” they said.

Just hours after its tender offer of $5.50/share, or $665 million in aggregate, for Dynegy Inc. was due to expire, Icahn Enterprises subsidiary IEH Merger Sub LLC extended the deadline until 5 p.m. EST Monday “to allow additional time for FERC approval,” the company said.

Just hours after its tender offer of $5.50/share, or $665 million in aggregate, for Dynegy Inc., was due to expire, Icahn Enterprises subsidiary IEH Merger Sub LLC extended the deadline until 5 p.m. EST Monday “to allow additional time for FERC approval,” the company said.

Dejour Enterprises Ltd. and investment partner Brownstone Ventures have acquired 64,000 net acres of oil and gas leasehold in Colorado and Utah from privately held Retamco Operating Inc. The transaction gives the partners operational control of 128,000 acres in the Rocky Mountains. Dejour, an exploration and production company based in Vancouver, BC, would hold a 71% stake in the leasehold. Brownstone, a Canadian-based energy investment firm, would hold the remaining interest. Overall, the companies would have around 289,000 gross acres of leasehold properties in Colorado and Utah. The additional acreage was acquired in exchange for Dejour’s and Brownstone’s working interest in roughly 3,500 acres and two wells at North Barcus Creek and a cash payment. The North Barcus Creek wells were drilled on joint acreage held by Retamco at the end of 2007 and are awaiting production tie-in, Dejour stated. The transaction, said Dejour, completes its first step in a strategy to develop a “major operating presence” in several of the most promising producing basins in the Rockies. In the next two years the producer plans to drill and complete “at least” 10 exploration wells in the Piceance Basin. Based on its exploration results, it may move to full resource development.

Dejour Enterprises Ltd. of Vancouver, BC, signed a letter of intent to purchase certain proven producing and undeveloped reserves, approximately 2,100 acres of associated land, data and wells in Liberty County, TX, effective Aug. 1, 2007 for US$3.5 million cash with minor gas balancing adjustments, the company said. The purchase includes four wells; two wells currently producing gas with associated condensate in excess of 12 MMcf of natural gas combined, one new well currently being placed on line with similar pressures and one standing cased well; all drilled to approximately 12,000 feet. Working interests range from 11.38% to 15.9%. LaRoche Consultants of Dallas, on behalf of Dejour Energy USA Inc., a wholly owned subsidiary of Dejour, is providing independent engineering reports assigning NI 51-101 compliant gross proven reserves associated with this purchase of 9.3 Bcf and 130,000 bbl of condensate based on the New York Mercantile Exchange strip case. Production from this field is expected to be enhanced when the new well is placed on stream. Dejour anticipates additional wells to be drilled in the future. Dejour said it expects to close the transaction on or before Sept. 14, assuming no due diligence issues. The purchase will be funded from cash on hand.