Equity

Dallas-based Energy Transfer Equity LP (ETE), the owner of the general partner of Energy Transfer Partners LP (ETP), Tuesday agreed to acquire the general partner of Regency Energy Partners LP for close to $300 million.

Natural gas futures closed slightly higher Tuesday as traders were content to remain on the sidelines and avoid the free-falling petroleum and equity markets. June natural gas futures rose 1.3 cents to $4.013 and July added a meager 0.4 cents to $4.133. June crude oil tumbled $3.45 to $82.74, and the Dow Jones Industrial Average spiraled lower 225 points to 10,926 largely on debt concerns in Greece.

Houston-based Quantum Energy Capital LLC has closed its $2.5 billion Quantum Energy Partners V private equity fund, the firm said. “This fund represented a 90% increase from our last fund raised in 2006,” said Quantum CEO Wil VanLoh. “The strong response from the investor community during a very difficult fundraising environment is a testament to our track record, investment team and reputation for partnering with the energy industry’s top management teams.” Quantum targets investment opportunities between $100 million and $400 million primarily in the oil and gas upstream, midstream and power sectors but considers opportunities across the entire energy industry. Founded in 1998, Quantum has more than $5.7 billion of assets under management.

Kayne Anderson Capital Advisors LP has closed its fifth private equity energy fund with total commitments of $820 million. The Houston-based fund has invested in more than 50 energy companies since 1998. Like prior funds, the new fund will invest in “early to mid-stage” North American oil and gas companies with typical investments ranging from $20 million to $150 million, officials said. Previous investments by Kayne Anderson have included Millennium Midstream Partners LP (see Daily GPI, Sept. 17, 2008) and Crestwood Midstream Partners LLC (see Daily GPI, June 26, 2008).

Private equity fund Tiberius Capital LLC has launched a tender offer to acquire a controlling interest in Petrosearch Energy Corp. to prevent Double Eagle Petroleum Co. from purchasing the company.

July natural gas futures fell hard and fell often in Wednesday trading that took much of its guidance from petroleum and equity market difficulties. Analysts are wary that additional data in the form of Thursday’s Energy Information Administration inventory report and Friday’s employment figures could further weaken natural gas prices.

With a potential equity and energy interest in both, Pacific Gas and Electric Co. (PG&E) views major interstate natural gas pipeline and electric transmission projects in the Pacific Northwest as treading water, awaiting other key market and regulatory developments, according to PG&E Corp. CEO Peter Darbee, speaking on a conference call with financial analysts last Wednesday. For now, the projects are in what Darbee called the San Francisco-based combination utility’s “far-end guidance period” (2012-13).

With a potential equity and energy interest in both, Pacific Gas and Electric Co. (PG&E) views major interstate natural gas pipeline and electric transmission projects in the Pacific Northwest as treading water, awaiting other key market and regulatory developments, according to PG&E Corp. CEO Peter Darbee, speaking on a conference call with financial analysts Wednesday. For now, the projects are in what Darbee called the San Francisco-based combination utility’s “far-end guidance period” (2012-13).

May natural gas futures were unable to sustain Friday’s 13-cent advance and stumbled badly as weaker crude oil and equity markets set a negative tone to the day’s trading. Analysts see no reconciliation between plump production and recession-diminished demand for another two quarters and suggest things could get really grim if next winter is mild.