Houston-based Linn Energy LLC, which is acquiring Dominion Resources Inc.’s Midcontinent oil and natural gas assets for $2.05 billion (see Daily GPI, July 3), has signed hedging contracts that include a commitment for price swaps once the Dominion deal closes. The hedging contracts cover 40 Bcf of gas and 800,000 bbl of oil for 2008 through 2012, or five years, with weighted average swap and put prices of $8.50/Mcf for gas and $73.50/bbl for oil. In addition, the contracts cover 7.8 Bcf of gas and 157,000 bbl of oil for the fourth quarter, with weighted average swaps and put prices of $8.54/Mcf for gas and $73.78/bbl for oil.
Linn
Articles from Linn
AEP’s Draper to Retire in 2004
E. Linn Draper Jr., 61, the chairman and CEO of American Electric Power (AEP), said Wednesday he will retire in 2004. Draper became president of the Columbus, OH-based utility giant in March 1992 following 13 years with Gulf States Utilities Co. in Beaumont, TX, where he served as CEO. He took over the chair and CEO positions for AEP in May 1993.
April 14, 2003
AEP’s Draper to Retire in 2004
E. Linn Draper Jr., 61, the chairman and CEO of American Electric Power (AEP), said Wednesday he will retire in 2004.
April 10, 2003
AEP Restructures to Build Wholesale Business
Saying that “corporate separation is our highest priority,”American Electric Power’s CEO E. Linn Draper announced last weekthat the company is undergoing a restructuring, and will place morefocus on its U.S. wholesale power generation, marketing and tradingbusinesses. It also will scrap previously announced plans to expandits overseas markets.
November 6, 2000
AEP’s Revamps to Build Wholesale Business
Saying that “corporate separation is our highest priority,”American Electric Power’s CEO E. Linn Draper announced this weekthat the company is undergoing a restructuring, and will place morefocus on its U.S. wholesale power generation, marketing and tradingbusinesses. It also will scrap previously announced plans to expandits overseas markets.
November 1, 2000
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