Offers

A KeySpan Corp. affiliate announced Friday it is offering all of its remaining 6,580,392 shares of common stock of the Houston Exploration Co., equating to a 24% interest, in a public offering, completing KeySpan’s plan announced more than a year ago to sell out of the E&P company it founded in the 1980s and focus on regulated assets in the East.

A KeySpan Corp. affiliate announced Friday it is offering all of its remaining 6,580,392 shares of common stock of the Houston Exploration Co., equating to a 24% interest, in a public offering, completing KeySpan’s plan announced more than a year ago to sell out of the E&P company it founded in the 1980s and focus on regulated assets in the East.

Financial analysts on Wednesday pressed Duke Energy CEO Paul M. Anderson about when Moss Bluff’s two undamaged salt cavern storage facilities in Liberty County, TX, would re-open, but he declined to provide a timeline.

With its energy trading unit now sold, Entergy-Koch LP retained Lehman Brothers to coordinate offers to sell subsidiary Gulf South Pipeline Co. LP. The Houston-based pipeline is jointly owned by Entergy Corp. and Koch Industries Inc., and is part of the companies’ overall plan to disband their partnership.

Mexico’s state-owned oil and gas monopoly Petroleos Mexicanos (Pemex) opened its second round of tender offers for companies interested in exploring for natural gas in the Burgos Basin. Pemex will take bids on four new blocks in the region located south of Texas. Through its multiple-service contracts, which allow international companies to take part in exploration, Pemex last year awarded tenders for five blocks in the basin. The contracts are part of Mexico’s plan to halve the country’s gas imports by 2007. Last year, Mexico’s gas output totaled 4.4 Bcf/d. Pemex will take bids for the Pandura-Anahuac and Ricos blocks through Oct. 26. Tenders for the Pirineo and Monoclonal blocks will begin Aug. 17 and will be taken through Nov. 23. In total, Pemex said the contracts are worth $2.7 billion.

Phoenix, AZ, appears to be a popular destination for new natural gas deliveries as both Transwestern Pipeline and El Paso Natural Gas are working on delivering new supplies from their mainlines into the area.

Phoenix, AZ, appears to be a popular destination for new natural gas deliveries as both Transwestern Pipeline and El Paso Natural Gas are working on delivering new supplies from their mainlines into the area.

The New York Mercantile Exchange reported Thursday that it received an unsolicited offer from Boston-based Parthenon Capital LLC to buy a 60% controlling interest in the exchange for up to $2 million per seat, or about $980 million for 490 seats on the exchange.

‘The New York Mercantile Exchange reported Thursday that it received an unsolicited offer from Boston-based Parthenon Capital LLC to buy a 60% controlling interest in the exchange for up to $2 million per seat, or about $980 million for 490 seats on the exchange.