Equity

Nexus Gas Partners LLC, which is owned by a New York-based private equity fund, on Tuesday announced the acquisition of Dominion Midstream Services LP from Dallas-based Dominion Gas Group for an undisclosed amount. The assets include the Logansport gathering and dehydration system, which currently gathers 100 MMcf/d from the Joaquin Field in Shelby and Panola counties, TX, and the Logansport, Grand Cane, Spider and Benson fields in DeSoto Parish, LA.

Chesapeake Energy Corp. has updated its 4Q2006 guidance to reflect gains from lifting a portion of its oil and natural gas hedges and to include debt and equity offerings in the past few weeks. For 2007, the Oklahoma City-based producer has hedged about 27% of its gas output and 66% of its oil production.

Chesapeake Energy Corp. updated its 4Q2006 guidance to reflect gains from lifting a portion of its oil and natural gas hedges and to include debt and equity offerings in the past two weeks. For 2007, the Oklahoma City-based producer has hedged about 27% of its gas output and 66% of its oil production.

The spotlight will be on FERC Thursday as it takes up the controversial case involving return on equity (ROE) for the Wyoming-to-California Kern River Gas Transmission pipeline.

Denver-based Gasco Energy Inc. on Wednesday agreed to purchase Brek Energy Corp. for equity consideration of approximately 11 million shares of Gasco common stock, which were estimated to be worth $30 million based on the closing price on Sept. 20. The acquisition is expected to simplify Gasco’s acreage portfolio by absorbing a working interest partner that previously owned 14% of its working interest in undeveloped acreage in both Utah and Wyoming.

First Reserve Corp., a U.S.-based private-equity firm specializing in the energy industry, has closed its latest global fund with total commitments of $7.8 billion. The fund, which surpasses the $4.8 billion raised earlier this year by Carlyle Group and its energy-investment affiliate Riverstone Holdings LLC, is the largest ever put together by First Reserve and said to be the largest to focus exclusively on the global energy industry.

First Reserve Corp., a U.S.-based private-equity firm specializing in the energy industry, has closed its latest global fund with total commitments of $7.8 billion. The fund, which surpasses the $4.8 billion raised earlier this year by Carlyle Group and its energy-investment affiliate Riverstone Holdings LLC, is the largest ever put together by First Reserve and said to be the largest to focus exclusively on the global energy industry.

Fort Worth-based XTO Energy Inc. closed its acquisition of Peak Energy Resources Inc., a Barnett Shale producer, for equity consideration of 2.555 million shares of XTO common stock (see Daily GPI, June 2). The price was increased by approximately $5.4 million in cash consideration to acquire an additional 3,600 net acres, bringing the total net leasehold acquired to about 37,000 acres. During June, XTO repurchased 2.2 million shares of its common stock in the open market at an average price of $37.74/share.

Fort Worth-based XTO Energy Inc. agreed to buy privately held Peak Energy Resources Inc., a Barnett Shale producer, for equity consideration of 2.555 million shares of XTO common stock, valued at $105 million.