Enterprise Products Partners LP announced Tuesday that it has agreed to sell about 22.8 million common units of Energy Transfer Equity LP (ETE) to undisclosed purchasers for approximately $825.1 million.
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Private Equity, Public Pension Funds Buy Gas-Fired Assets
As a further indication of the private equity sector’s growing interest in energy infrastructure, First Reserve Corp. and the California Public Employees Retirement System (CalPERS) have partnered to acquire natural gas-fired generation plants and transmission lines from ArcLight Capital Partners.
Enterprise Unloads Most of ETE Units
Enterprise Products Partners LP announced Tuesday that it has agreed to sell about 22.8 million common units of Energy Transfer Equity LP (ETE) to undisclosed purchasers for approximately $825.1 million.
‘Critical’ Need for Utica Midstream, Says MarkWest CEO
MarkWest Energy Partners LP, which teamed up with private equity fund The Energy & Minerals Group (EMG) three years ago to create one of the largest natural gas processing companies in the Marcellus Shale, now sees a “critical” need to create similar midstream infrastructure in the emerging Utica Shale, CEO Frank Semple said last week.
MarkWest CEO Sees ‘Critical’ Need for Utica Shale Midstream
MarkWest Energy Partners LP, which teamed up with private equity fund The Energy & Minerals Group (EMG) three years ago to create one of the largest natural gas processing companies in the Marcellus Shale, now sees a “critical” need to create similar midstream infrastructure in the emerging Utica Shale, CEO Frank Semple said late Monday.
Small Producer Gets Oil, Gas from Louisiana Eagle Ford
Indigo II Louisiana Operating LLC said it has made a new oil discovery in central Louisiana with its first horizontal well targeting the Louisiana Eagle Ford Shale (LA Eagle Ford).
Quicksilver Eyes Barnett for Cash Breadbasket
Quicksilver Resources Inc. is hoping to turn some of its Barnett Shale assets into a cash breadbasket through the creation of a master limited partnership (MLP). Proceeds would be used to pay down Quicksilver debt.
Bidding War Behind the Scenes for Southern Union Properties
Williams, which saw its bid to merge with Southern Union Co. over a competing offer by Energy Transfer Equity LP (ETE) rebuffed again and again this past summer, apparently expressed an interest in acquiring some of Southern Union’s assets over the past two months, according to a regulatory filing.
Money Managers Looking South; September Grinds Lower
September natural gas slipped lower Monday in lackluster trading as natural gas failed to hitch its wagon to surging equity and oil prices and managed funds align on the short side of the market. At the close September had fallen 3.6 cents to $4.024 and October had eased 3.2 cents to $4.039. September crude oil jumped $2.50 to $87.88/bbl. and the Dow Jones Industrial Average gained 214 points to 11,483.
SEC Probes Possible ‘Overbooking’ of Shale Reserves
The Securities and Exchange Commission (SEC) has begun to serve producers active in natural gas shale development with subpoenas, according to Baird Equity Research, which cited an “attorney advertisement” issued by the Houston law firm of Fulbright & Jaworski as its source.