Holding

Calgary-based AltaGas Ltd. has ponied up US$1.135 billion to acquire Semco Holding Corp., which has stakes in the largest natural gas distributor in Alaska, Enstar Natural Gas Co., as well as a Michigan gas distribution system.

Calgary-based AltaGas Ltd. on Wednesday agreed to pay US$1.135 billion to acquire Semco Holding Corp., which has stakes in the largest natural gas distributor in Alaska, Enstar Natural Gas Co., as well as a Michigan gas distribution system.

TransCanada Corp. plans to continue to pursue various routes for the spurned Keystone XL oil pipeline project, and shippers holding long-term firm contracts equating to 850,000 b/d also plan to stick with the C$7 billion, 1,700-mile pipeline project, CEO Russ Girling said Thursday.

A coalition of environmental groups is calling on Pennsylvania lawmakers to take a new approach in their ongoing efforts to approve an impact fee on natural gas drilling in the state, either by starting the process over or dividing the omnibus legislation into four separate bills.

Water reclamation services firm STW Resources Holding Corp. is planning pilot projects in the Permian Basin of West Texas to process produced oilfield water. The Midland, TX-based firm said its mobile processing unit will handle up to 500 barrels of water per day for up to 10 days per site. Some of the processed water could be used for hydraulic fracturing (fracking).

January natural gas fell slightly at expiration Wednesday as traders see the market in a balancing act between holding technical support and withstanding a storage surplus that is not only wide, but continuing to increase. By the close January shed 2.8 cents to $3.084 and February eased 2.9 cents to $3.121. February crude oil fell $1.98 to $99.36/bbl.

Questar Pipeline Co. (QPC) is holding an open season through Jan. 31 to solicit binding support to install nine miles of natural gas pipeline and ancillary facilities on its jurisdictional line (JL) 47 in Duchesne County, UT.

The North Dakota Industrial Commission on Tuesday approved a 30,000-acre single oil production unit in an area bounded by a state park and river in the west-central part of the state. The vote was unanimous to allow the atypically large production unit, which is intended to better protect the environment, a commission spokesperson told NGI’s Shale Daily.

San Diego-based energy holding company Sempra Energy said all of its business units met or exceeded their financial objectives this year. As a result, Sempra said it expects to meet or exceed the higher end of its previously announced 2011 earnings-per-share guidance of $4-4.30. The guidance excluded a second quarter $1.14/share gain from South American utility acquisitions. On a generally accepted accounting principles basis Sempra’s previously announced guidance was $5.14-5.44/share, which the company also expects to meet or exceed. Sempra’s 4Q2011 and full-year 2011 results are scheduled to be announced Feb. 28.