Intend

Chesapeake Energy Corp. and BP America intend to form a joint venture that gives BP a 25% interest in Chesapeake’s Fayetteville Shale assets in Arkansas for $1.9 billion, the companies said Tuesday. This marks the third transaction in less than two months involving the sale of Chesapeake’s shale assets, two of which have been with BP.

Financier Carl Icahn and some Icahn entities have purchased nearly 5% of Kerr-McGee Corp. stock and said they intend to nominate two candidates to the board of directors at the company’s annual meeting, which is scheduled for May 10.

Just days after financier Carl S. Icahn and Icahn Partners indicated they intend to buy 2-9% of the company, Kerr-McGee Corp. on Wednesday said it has hired an investment bank to consider selling its chemicals business.

A New Mexico official said last week that the state does not intend to make a direct bid for Enron’s Transwestern Pipeline. The state, which told the court in June that it would be participating, indicated that the bulk bidding procedure, which requires bids on the entire collection of Enron’s domestic pipeline assets rather than on the five individual companies that make up Enron’s CrossCountry Energy LLC, was the major sticking point.

A New Mexico official said Thursday that the state does not intend to make a direct bid for Enron’s Transwestern Pipeline. The state, which told the court in June that it would be participating, indicated that the bulk bidding procedure, which requires bids on the entire collection of Enron’s domestic pipeline assets rather than on the five individual companies that make up Enron’s CrossCountry Energy LLC, was the major sticking point.