Master

QEP Resources Inc. plans to form a master limited partnership (MLP) to support the growth of its midstream business and expects to raise $300-400 million in gross proceeds by selling a minority interest in the MLP, the Denver-based exploration and production (E&P) company said.

The North American “shale revolution” is providing infrastructure companies and U.S. master limited partnerships with solid growth opportunities over the next two decades, according to an analysis by Credit Suisse.

The North American “shale revolution” is providing infrastructure companies and U.S. master limited partnerships with solid growth opportunities over the next two decades, according to an analysis by Credit Suisse.

BG Group, whose global expertise is centered around natural gas, on Wednesday said it plans to slash U.S. drilling, as well as other global gas-weighted projects, because of low commodity prices.

Former Enron Corp. energy trader John Arnold is closing down his flagship Centaurus Energy Master Hedge Fund, which is returning capital to investors. Arnold, a billionaire more than three times over, and his wife Laura will be focusing on philanthropic interests. Houston-based Centaurus has been one of the most successful hedge funds in the industry, delivering a compound annual return of about 130% since it was founded by Arnold in 2002 after the collapse of Enron. In Wall Street circles Arnold has been known to some as the “king of natural gas.” He and his wife will be considered royalty among philanthropists, running a $700 million foundation they founded in 2008. According to Forbes, Arnold has a personal fortune of about $3 billion as of March, putting him at No. 377 on the magazine’s list of billionaires. “In the past ten years, we have achieved more success than I could have hoped for or imagined. However, after 17 years as an energy trader, I feel that it’s time to pursue other interests,” the 38-year-old Arnold wrote to investors in a letter obtained by NGI. A Centaurus representative said there would be no comment on Arnold’s departure from the energy trading scene. A trading star at Enron, Arnold cut a large profile in hedge fund circles after his employer’s collapse. However, since the heady days of high volatility in gas markets, things have calmed quite a bit. An abundance of gas supply, thanks to shale plays, and tighter regulations on commodity speculation have made the trading game less of a thrill for Arnold and his kind. In 2011 the fund was fined $75,000 by the New York Mercantile Exchange for violating position limits in natural gas trading (see NGI, Jan. 2). Arnold founded Centaurus with an $8 million employee bonus from Enron. Centaurus employees have included several big name energy traders such as ex-Enron executive Greg Whalley, as well as Bill Perkins, Mike Magg and Conrad Goerl, previously of MotherRock.

EQT Midstream Partners LP, a unit of Appalachian producer EQT Corp., is preparing to launch a public offering as a master limited partnership (MLP). The initial public offering (IPO) is expected to raise up to $250 million.

Centaurus Energy Master Fund LP, a Houston-based energy hedge fund that was founded by John D. Arnold after the collapse of Enron Corp., was fined $75,000 by the New York Mercantile Exchange (Nymex) for violating position limits in natural gas trading.

Atlas Energy LP will benefit from a buyer’s market for conventional assets when it launches its new master limited partnership (MLP), Atlas Resource Partners LP, CEO Edward Cohen told financial analysts last week.

Atlas Energy LP will benefit from a buyer’s market for conventional assets when it launches its new master limited partnership (MLP), Atlas Resource Partners LP, CEO Edward Cohen told financial analysts Tuesday.