Gulf Canada Resources is expecting to more than double its daily gas production by swallowing rival Crestar Energy in a C$1.7-billion ($1.1-billion) friendly cash and stock transaction, excluding C$565 million in debt assumption. The combination will form a top-five Canadian independent production company with plenty of room to grow.
Gobbles
Articles from Gobbles
Midcoast Gobbles Up a Gulf Coast Distributor
In an attempt to expand its Gulf Coast influence, MidcoastEnergy Resources Inc. purchased Southern Industrial Gas Corp.(SIGCO), a Gulf Coast distributor, Tuesday. Terms of thetransaction were not disclosed.
Equitable Gobbles Up Carnegie Natural Gas
Equitable Resources signed a definitive agreement to buyCarnegie Natural Gas Co., a gas utility and USX-Marathon Groupsubsidiary serving 9,000 residential, commercial and industrialcustomers in Pennsylvania and West Virginia, for an undisclosed sumlast Tuesday. The purchase increased Equitable’s natural gasthroughput 27% and increased its production in Appalachia 9%. Thecompanies hope to close the deal late this year or early next year.
Equitable Gobbles Up Carnegie Natural Gas
Equitable Resources signed a definitive agreement to buyCarnegie Natural Gas Co., a gas utility and USX-Marathon Groupsubsidiary serving 9,000 residential, commercial and industrialcustomers in Pennsylvania and West Virginia, for an undisclosed sumTuesday. The purchase increased Equitable’s natural gas throughput27% and increased its production in Appalachia 9%. The companieshope to close the deal late this year or early next year.