Merge

Suncor Energy Inc. and Petro-Canada plan to merge in an all-share transaction worth about C$19.6 billion (US$15.5 billion), which would create Canada’s largest energy company and North America’s fifth largest. The deal increases an already strong stake in Canada’s oilsands, but the combination also creates a small powerhouse of natural gas prospects in Western Canada, British Columbia, the U.S. Rocky Mountains, the Mackenzie Delta and Alaska.

Oklahoma City-based Quest Resource Corp. (QRCP) and its related partnerships plan to merge and form a publicly traded corporation focused on unconventional resource development in the Marcellus Shale and the Cherokee Basin.

After rejecting a $2.8 billion takeover proposal from Enterprise Products Partners LP in April, TEPPCO Partners LP said Monday it has agreed to merge with Enterprise to form the largest publicly traded energy partnership with an enterprise value of more than $26 billion. The stock deal is valued at about $3.3 billion and would create a company similar in size to Kinder Morgan.

TransCanada Corp. said Thursday it has decided to merge its larger Pathfinder Pipeline project into its Bison Pipeline project, which would provide additional capacity to deliver Rocky Mountain natural gas to Midwest markets.

TransCanada Corp. said Thursday it has decided to merge its larger Pathfinder Pipeline project into its Bison Pipeline project, which would provide additional capacity to deliver Rocky Mountain natural gas to Midwest markets.

Suncor Energy Inc. and Petro-Canada on Monday announced plans to merge in an all-share transaction worth about C$19.6 billion (US$15.5 billion), which would create Canada’s largest energy company. Besides building its stake in Canadian oilsands, the combination creates a small powerhouse of natural gas prospects in Western Canada, the U.S. Rocky Mountains, the Mackenzie Delta and Alaska.

Sen. Lisa Murkowski (R-AK) signaled she would oppose any attempt by the Democratic leadership to possibly merge energy legislation and a cap-and-trade bill on the Senate floor this year. Lumping two very controversial pieces of legislation into a single-bill strategy will make final passage very difficult, said the ranking Republican on the Senate Energy and Natural Resources Committee. The energy bill is expected to address a number of contentious issues, including federal siting of electric transmission facilities, drilling in the previously banned areas of the Outer Continental Shelf and a renewable energy standard (see NGI, March 9). Committee Chairman Jeff Bingaman (D-NM) has indicated that energy and cap-and-trade legislation should be dealt with separately. Cap-and-trade “[is] not as ready for prime time in my opinion,” he said. Murkowski said she and her staff are working in a bipartisan fashion with Bingaman and his staff on a comprehensive energy bill that they hope to mark up by the end of March.

Sen. Lisa Murkowski (R-AK) Friday signaled that she would oppose any attempt by the Democratic leadership to possibly merge energy legislation and a cap-and-trade bill on the Senate floor this year.

A proposal to merge JPMorgan Chase & Co. and the Bear Stearns financial house, with Bear Stearns becoming a direct, wholly owned subsidiary of JPMorgan Chase and Bear Stearns’ public utility subsidiaries becoming indirect wholly owned subsidiaries of JPMorgan Chase, was authorized by FERC Monday.