Industry Brief

Home heating products retailer Dead River Co. plans to sell and supply compressed natural gas (CNG) to commercial and institutional customers in central, northern and eastern Maine from Xpress Natural Gas’ (XNG) soon-to-be-completed CNG terminal in Washington County, ME, the companies said. The customers to be served typically use at least 75,000 gallons of heating oil annually. Boston-based XNG currently trucks liquefied natural gas to industrial customers. The partnership brings together XNG proprietary technology with Dead River’s more than one hundred years of experience in trucked fuels and energy services.

January 31, 2013
Abraxas Selling Eagle Ford Stake, Alberta Basin Properties

Abraxas Selling Eagle Ford Stake, Alberta Basin Properties

San Antonio-based Abraxas Petroleum Corp. is finalizing talks to sell its 25% working interest in the Nordheim Project in the Eagle Ford Shale to an institutional buyer for about $20 million, the company said Monday.

November 13, 2012
Pemex to Invest $200M in Shale Gas Exploration Over Three Years

Pemex to Invest $200M in Shale Gas Exploration Over Three Years

A Mexican government official said state-owned petroleum company Petroleos Mexicanos (Pemex) will spend $200 million over the next three years exploring two shale formations in the country for natural gas.

September 13, 2012

Investors Coalition Supports Best Practices for Shale Fracking

Fifty-five investment organizations and institutional investors with nearly $1 trillion in assets under management are pushing for implementation of “best practices” for hydraulic fracturing (fracking), according to a trio of shareholder groups — Boston Common Asset Management, the Investor Environmental Health Network (IEHN) and the Interfaith Center on Corporate Responsibility (ICCR) — which are spearheading the effort.

May 21, 2012

Industry Briefs

Institutional Shareholder Services (ISS) and Egan-Jones Proxy Services have recommended that Southern Union Co. shareholders vote in favor of the company’s proposed acquisition by Energy Transfer Equity LP, Southern Union said Monday. ISS said the Energy Transfer offer is “significantly higher than Southern Union’s all-time high trading price prior to the initial announcement of the merger.” Egan-Jones said the proposed deal is a “desirable approach in maximizing shareholder value.” A special meeting of shareholders is scheduled for 11 a.m. EST Dec. 9. Williams has also pursued Southern Union but has been repeatedly rebuffed (see Daily GPI, Oct. 13).

November 22, 2011

Start-Up Gas Midstream Firm to Focus on Permian Shale Plays

With activity heating up in several Permian Basin shale plays, Houston-based start-up Nuevo Midstream, LLC announced Wednesday it has secured a $65 million equity commitment to develop midstream infrastructure for natural gas producers in the Permian.

April 18, 2011

Gastar Buys More West Virginia Acreage

Less than two months after gaining a financially able partner to develop some of its Marcellus Shale acreage, Gastar Exploration Ltd. on Wednesday said it would buy another 59,000 net acres in the WestVirginia portion of the play.

November 11, 2010

EV Energy Partners to Acquire West Virginia Properties

Houston-based EV Energy Partners LP (EVEP) said Monday it has entered into an agreement with an institutional partnership managed by EnerVest, Ltd. to acquire natural gas properties in West Virginia for $59.5 million.

November 20, 2007

Proxy Advisor Supports Great Plains’ $1.6B Acquisition of Aquila

Independent proxy advisory firm Institutional Shareholder Services (ISS) has recommended that Aquila Inc. shareholders vote for the company’s plan to merge with Great Plains Energy Inc., Aquila announced Thursday.

September 28, 2007

Freeport LNG Closes on Funding for Texas Terminal Project

Freeport LNG Development LP on Tuesday said it closed on $383 million of private placement note funding with nine institutional investors for the construction of the first phase of its liquefied natural gas (LNG) terminal on Quintana Island in Brazoria County, TX.

December 21, 2005
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