Financed

Nearly half of the U.S. oil and natural gas merger and acquisition (M&A) activity during the third quarter was driven by shale plays, according to the latest survey by consultancy PwC US.

Quicksilver Resources Inc., which was one of the early entrants into the Horn River Basin of British Columbia (BC), has launched plans to create a midstream natural gas entity to support its 130,000 net-acre project.

While the Interior Department is “fast-tracking” renewable energy projects, many of which are financed by the oil and natural gas industry, it has blinders on when it comes to promoting domestic oil and gas production, the American Petroleum Institute (API) said last Wednesday.

While the Interior Department is “fast-tracking” renewable energy projects, many of which are financed by the oil and natural gas industry, it has blinders on when it comes to promoting oil and gas production, the American Petroleum Institute (API) said Wednesday.

National Grid plc Friday announced that it completed its $11.8 billion, 100% debt-financed acquisition of KeySpan Corp. Closure of the transaction came two days after the merger received its last regulatory approval from the New York Public Service Commission (see Daily GPI, Aug. 23).

BP Energy Co. said that it sold 170 Bcf of gas to Public Energy Authority of Kentucky Inc. (PEAK) under a 10-year, $1 billion prepaid contract. PEAK, which financed the prepayment with the proceeds of revenue bonds underwritten by Banc of America Securities LLC, will use the gas to serve the baseload requirements of its municipal members and customers in Kentucky, Tennessee and Missouri.

In a clear indication that privately financed, natural gas-fired power generation is still in fashion, Pacific Gas and Electric Co. Tuesday announced a recent request-for-offers (RFOs) has turned up 1,760 MW of new combined-cycle generation plants, equating to more than $1.5 billion of new energy infrastructure in the northern half of California. The RFO drew more than 50 respondents, totaling more than 12,000 MW — all natural gas-fired supplies, PG&E’s utility said.

In a clear indication that privately financed, natural gas-fired power generation is still in fashion, Pacific Gas and Electric Co. Tuesday announced a recent request-for-offers (RFOs) has turned up 1,760 MW of new combined-cycle generation plants, equating to more than $1.5 billion of new energy infrastructure in the northern half of California. The RFO drew more than 50 respondents, totaling more than 12,000 MW — all natural gas-fired supplies, PG&E’s utility said.

A Texas-based privately financed effort to bring Alaskan gas supplies in the form of liquefied natural gas (LNG) to a converted offshore oil platform off the Southern California coast is pushing for a conditional contract with the Alaska Gasline Port Authority (AGPA), according to William O. Perkins III, president of Houston-based Crystal Energy, LLC, who returned Wednesday from recent discussions with Alaskan officials.