EQT Corp. said Friday that it would sell its formidable 2.5 million net acre position in the Huron formation in Kentucky, Virginia and southern West Virginia for $575 million, parting with an early asset that helped give rise to the nation’s largest natural gas producer before it transitioned to more complex and prolific unconventional operations in the Appalachian Basin.
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Articles from Huron
Range Boasts Record Production Without Barnett
Following a trend among the major players in the Marcellus Shale, Range Resources Corp. is reporting record production rates after averaging 625 MMcfe/d across its portfolio in the fourth quarter.
Moody’s Downgrades SEMCO Because of High Leverage, Low Profitability
Moody’s Investors Service downgraded the ratings of Port Huron, MI-based gas utility company SEMCO Energy Inc. to Ba2 from Baa3 and said it was continuing a review for possible further downgrade because of the company’s “very high leverage, weak capitalization, low profitability and cash flow relative to its debt and refinancing risk.” About $534 million in debt was affected.
Moody’s Downgrades SEMCO Because of High Leverage, Low Profitability
Moody’s Investors Service downgraded the ratings of Port Huron, MI-based gas utility company SEMCO Energy Inc. to Ba2 from Baa3 and said it was continuing a review for possible further downgrade because of the company’s “very high leverage, weak capitalization, low profitability and cash flow relative to its debt and refinancing risk.” About $534 million in debt was affected.
Semco Grows in Construction, Engineering
Semco Energy Inc. of Port Huron, MI, broadened its presence inthe southern United States by acquiring two construction companiesand an engineering firm that provide services mainly to gas andtelecommunications companies.
Semco Goes to Alaska for First Distribution System Deal
Semco Energy Inc. of Port Huron, MI, agreed to buy EnstarNatural Gas and the Alaska Pipeline Co. (together known as Enstar)for $290 million in cash. The Anchorage, AK-based gas distributionsystem and transmission company are currently owned by Ocean EnergyInc.
Semco Goes to Alaska for First Distribution System Deal
Semco Energy Inc. of Port Huron, MI, agreed to buy EnstarNatural Gas and the Alaska Pipeline Co. (together known as Enstar)for $290 million in cash. The Anchorage, AK-based gas distributionsystem and transmission company are currently owned by Ocean EnergyInc.