Formed

Houston-based private equity firm Quantum Energy Partners has formed Quantum Utility Generation LLC (QUG) to focus on the acquisition, operation and development of North American conventional and alternative energy projects. On the conventional side, gas-fired generation — both new-build and acquisitions — is particularly attractive, QUG’s CEO told NGI.

Houston-based private equity firm Quantum Energy Partners has formed Quantum Utility Generation LLC (QUG) to focus on the acquisition, operation and development of North American conventional and alternative energy projects. On the conventional side, gas-fired generation — both new-build and acquisitions — is particularly attractive, QUG’s CEO told NGI.

Members of a new coalition formed by county commissions in Utah, Nevada, Wyoming, Idaho and Oregon on Thursday asked El Paso Corp. to release details of a $20 million contract between the company and some environmental groups that ostensibly will quell opposition to construction of the Ruby Pipeline.

Members of a new coalition formed by county commissions in Utah, Nevada, Wyoming, Idaho and Oregon on Thursday have asked El Paso Corp. to release details of a $20 million contract between the company and some environmental groups that ostensibly will quell opposition to construction of the Ruby Pipeline.

Kohlberg Kravis Roberts & Co. (KKR) agreed Monday to invest up to $400 million in Hilcorp Resources Inc., a newly formed partnership created to own and develop 100,000 net acres in the Eagle Ford Shale trend of South Texas leased by privately held Hilcorp Energy Co.

Cheniere Energy Inc. has closed the sale of its 30% limited partner interest in Freeport LNG Development LP for net proceeds of approximately $104 million to ZHA FLNG Purchaser LLC, an entity formed by Zachry American Infrastructure LLC and Hastings Funds Management USA Inc. on behalf of institutional investors, Cheniere said. Net proceeds are to be used to pay down a portion of the $400 million, 9.75% term loan held by a Cheniere subsidiary, the company said (see Daily GPI, April 26). The transaction is in line with Cheniere’s strategy of improving its capital structure and reducing debt.

As work continues to plug the leaking BP plc oil well in the Gulf of Mexico (GOM), the American Petroleum Institute (API) said Tuesday the oil and natural gas industry has formed two task forces to address the short- and long-term issues related to offshore equipment and operating practices.

Dominion is selling its natural gas and oil exploration and production (E&P) business to a newly formed subsidiary of major coal player Consol Energy Inc. for $3.475 billion in cash, the companies said Monday. The deal includes rights to about 491,000 acres in the Marcellus Shale.

Dominion is selling its natural gas and oil exploration and production (E&P) business to a newly formed subsidiary of major coal player Consol Energy Inc. for $3.475 billion in cash, the companies said Monday. The deal includes rights to about 491,000 acres in the Marcellus Shale.