Owns

Malaysian national oil company Petronas has increased to approximately C$6 billion its bid for Progress Energy Resources Corp. in a deal that would create a company that would deliver Canadian natural gas to world markets, Progress said. The amended offer was made in an effort to block an unsolicited proposal from another company.

CME Group Inc., which owns the New York Mercantile Exchange (Nymex), has fined Houston-based Whiteside Energy LP $225,000 after one of its traders left an automatic trade execution system (ATES) operating unattended, causing disruption in the natural gas futures market.

Malaysian national oil company Petronas plans to combine its liquefied natural gas (LNG) expertise with the unconventional resources abilities of Calgary-based Progress Energy Resources Corp. by acquiring Progress in a deal worth C$5.5 billion including debt. The combined enterprise would deliver Canadian natural gas to world markets.

Kinder Morgan Energy Partners LP’s (KMP) Crude/Condensate pipeline (KMCC) has entered service, carrying crude oil and condensate from the Eagle Ford Shale of South Texas to the Houston Ship Channel.

To give Kinder Morgan Inc. (KMI) complete control of a joint venture (JV) in which merger partner El Paso Corp. now owns one-half, its partnership on Wednesday agreed to buy a 50% interest in the Altamont gathering and processing system in Utah’s Uinta Basin, as well as the Camino Real Gathering System in the Eagle Ford Shale in Texas.

Net Midstream’s Eagle Ford Midstream LP plans to construct a 105-mile, 24- and 30-inch diameter extension of its existing pipeline, supported by a long-term gas transportation agreement with Anadarko Petroleum Corp.

GeoSouthern Energy Corp. will use the proceeds from a $1 billion credit facility that closed Thursday to continue the development of its 173,000 gross acre position in the condensate and oil windows of the Eagle Ford Shale in South Texas, the privately held independent exploration and production company said.

The Ohio company that owns a wastewater disposal well in Youngstown, OH, shut down by state regulators for allegedly triggering a series of earthquakes will pay for a study to determine the cause of the seismic activity.

The Ohio company that owns a wastewater disposal well in Youngstown shut down by state regulators for allegedly triggering a series of earthquakes will pay for a study to determine the cause of the seismic activity.