Energy Transfer Equity LP (ETE) on Tuesday chipped in another 25 cents/share to up its bid for Southern Union Co. to $44.25/share for a total value of $9.4 billion in its second attempt to outbid Williams and secure the biggest pipeline deal of the year.
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NGI The Weekly Gas Market Report
Petro-Canada Drops Out of Bidding War Over Canada Southern Shares
After being outbid twice in its hostile takeover battle for the shares of Canada Southern Petroleum, Petro Canada said Thursday that it had no intention of raising its offer for a third time. White knight Canadian Oil Sands bested Petro-Canada’s latest $13/share offer by a dime on Wednesday, retaining the favor of the Canada Southern board.
July 17, 2006
Energy Partners Wins Bidding for Stone Energy
New Orleans-based independent producer Energy Partners Ltd. successfully outbid Plains Exploration for the purchase of Lafayette, LA-based Stone Energy Corp. The boards of EPL and Stone approved the $2.2 billion purchase Thursday, forming a larger Gulf and Rockies E&P player with about 167 million boe in reserves (52% gas) and expected 2006 production totaling about 24 million boe.
June 26, 2006
Williams’ Barrett Purchase Backs Generation Market
Williams outbid Royal Dutch/Shell Group for Barrett Resources Corp. based on “electricity economics, along with fully integrated economics,” Stuart Wagner, a principal with Petrie Parkman told a GasMart/Power 2001 audience last Thursday. He suggested other merchant operators might also be in the market for gas reserves.
May 14, 2001
Williams’ Barrett Purchase Backs Generation Market
Williams outbid Royal Dutch/Shell Group for Barrett Resources Corp. based on “electricity economics, along with fully integrated economics,” Stuart Wagner, a principal with Petrie Parkman told a GasMart/Power 2001 audience Thursday.
May 11, 2001
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