Ownership

Brief — Enbridge-Spectra Energy

The U.S. Federal Trade Commission (FTC) hascleared thecombination of Enbridge Inc. and Spectra Energy Corp. FTC voted to accept a proposed consent decree in which Enbridge and Spectra have agreed to enact firewalls governing the flow of certain information to Enbridge about the Discovery offshore Gulf of Mexico natural gas pipeline system, and to take other steps limiting Enbridge’s potential influence over actions related to Discovery. Spectra holds an ownership interest in Discovery through its indirect ownership interest in DCP Midstream LP, which holds a 40% ownership interest in Discovery. Enbridge, through an affiliate, also has offshore natural gas gathering operations in the Gulf of Mexico. With FTC clearance, the merger has only one more regulatory hurdle, which is clearance under the Canadian Competition Act. The companies continue to expect the transaction to close during the first quarter.

February 16, 2017

Williams Adds to Appalachian Position in Delaware Basin Exchange With Western Gas

Williams Partners LP said late Thursday that it would increase its ownership stake in two Marcellus Shale natural gas gathering systems in northern Pennsylvania through an exchange of Permian Basin assets and a $155 million cash payment from Western Gas Partners LP.*

February 10, 2017

Industry Brief

Kirkpatrick Oil & Gas LLC has hired E-Spectrum Advisors LLC to sell its nonoperated, horizontal Eagle Ford and Pearsall shale properties in La Salle and Frio counties, TX. Kirkpatrick’s ownership includes 41 producing wells, operated by Cheyenne Petroleum Co., making approximately 6,000 gross/135 net boe/d, and nine wells in various stages of drilling and completion. In addition, nine locations are permitted for drilling. Kirkpatrick holds an approximate 3% working interest and the typical lease delivers a 77% net revenue interest. The properties hold 11,281 gross/338 net acres of leasehold. Reserves include net proved reserves of 1.18 MMboe (88% oil/liquids). Offers are due by July 30.

June 24, 2013

Shell, Williams Launch Marcellus Venture for Wet, Dry Natural Gas

Williams Partners LP and a unit of Royal Dutch Shell plc have partnered on an ambitious midstream venture to invest in natural gas liquids (NGL) and dry gas handling infrastructure to serve Marcellus and Utica shale operators in northwestern Pennsylvania and northeastern Ohio.

April 15, 2013

Targa Buying Bakken Crude, NatGas Midstream Assets

Targa Resources Partners LP said Thursday it will acquire all of Saddle Butte Pipeline LLC’s ownership of its Williston Basin crude oil pipeline and terminal system as well as its natural gas gathering and processing operations for $950 million in cash.

November 16, 2012

PDC Energy Going It Alone in Utica Shale

PDC Energy Inc. received several joint ownership and development proposals for its Utica Shale position in southeast Ohio from potential joint venture (JV) partners, but they “do not meet PDC’s value expectations,” so the Denver-based company will pursue development in the play independently.

September 20, 2012

Noble Continues Noncore Sales, Ramps up Denver-Julesburg

Noble Energy Inc. has agreed to sell oil and natural gas properties in Kansas, including about 250 producing wells on approximately 14,000 net acres, to an affiliate of Citation Oil & Gas Corp. for $140 million as part of an ongoing divestiture plan, the Houston-based company said Monday.

August 14, 2012

Sunrise Pipeline Cleared to Begin Service

FERC Thursday approved a request of Equitrans LP, a subsidiary of Pittsburgh-based EQT Corp., to place into service the remaining facilities of a new pipeline in Pennsylvania and West Virginia that will provide additional takeaway capacity for Marcellus Shale gas producers.

July 23, 2012

Anadarko Gets Lucius Funding in Exchange for Stake

Anadarko Petroleum Corp. last week agreed to give up some of its ownership in the prospective Lucius development in the deepwater Gulf of Mexico (GOM) in exchange for $556 million to help fund the project to first production in late 2014.

July 9, 2012

Anadarko Gets Lucius Funding in Exchange for Stake

Anadarko Petroleum Corp. on Monday agreed to give up some of its ownership in the prospective Lucius development in the deepwater Gulf of Mexico (GOM) in exchange for $556 million to help fund the project to first production in late 2014.

July 3, 2012
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