Partner

Anadarko Petroleum Corp., which is a partner in BP plc’s doomed Macondo well in the deepwater Gulf of Mexico (GOM), said Thursday full-year 2010 sales volumes and projected capital spending remain unchanged, but it may shift money to onshore projects in its portfolio.

Cheniere Energy Inc. has closed the sale of its 30% limited partner interest in Freeport LNG Development LP for net proceeds of approximately $104 million to ZHA FLNG Purchaser LLC, an entity formed by Zachry American Infrastructure LLC and Hastings Funds Management USA Inc. on behalf of institutional investors, Cheniere said. Net proceeds are to be used to pay down a portion of the $400 million, 9.75% term loan held by a Cheniere subsidiary, the company said (see Daily GPI, April 26). The transaction is in line with Cheniere’s strategy of improving its capital structure and reducing debt.

Cheniere Energy Inc. has agreed to sell its 30% limited partner interest in Freeport LNG Development LP to Zachry American Infrastructure LLC, a member of the Zachry group of companies in San Antonio, TX, and Hastings Funds Management (USA) Inc., a subsidiary of Westpac Banking Corp., which is acting on behalf of institutional investors. Net proceeds of about $104 million will be used to pay down a portion of the $400 million, 9.75% term loan held by a Cheniere subsidiary. The transaction is in-line with Cheniere’s strategy of improving its capital structure and reducing debt, the company said, and is expected to close in the second quarter subject to due diligence and regulatory approvals. Freeport LNG Development owns and operates an LNG receiving and regasification terminal on Quintana Island in Texas. Houston-based Cheniere is primarily engaged in LNG related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail pipeline in Louisiana.

Houston-based EnCap Investments LP and partner Flatrock Energy Advisors, headquartered in San Antonio, have created the EnCap Energy Infrastructure Fund LP with total capital commitments of $791.6 million. The fund is tailored for investments in midstream businesses in North America. The fund managers plan to provide growth capital to “proven” management teams of gathering pipelines, natural gas treatment and processing plants, as well as interstate pipelines and storage. The midstream fund already has committed $215 million to five portfolio energy companies that include Cardinal Midstream and Rangeland Energy.

Cheniere Energy Inc. has agreed to sell its 30% limited partner interest in Freeport LNG Development LP to Zachry American Infrastructure LLC, a member of the Zachry group of companies in San Antonio, TX, and Hastings Funds Management (USA) Inc., a subsidiary of Westpac Banking Corp., which is acting on behalf of institutional investors. Net proceeds of about $104 million will be used to pay down a portion of the $400 million, 9.75% term loan held by a Cheniere subsidiary. The transaction is in-line with Cheniere’s strategy of improving its capital structure and reducing debt, the company said, and is expected to close in the second quarter subject to due diligence and regulatory approvals. Freeport LNG Development owns and operates an LNG receiving and regasification terminal on Quintana Island in Texas. Houston-based Cheniere is primarily engaged in LNG related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail pipeline in Louisiana.

Houston-based EnCap Investments LP and partner Flatrock Energy Advisors, headquartered in San Antonio, have created the EnCap Energy Infrastructure Fund LP with total capital commitments of $791.6 million. The fund is tailored for investments in midstream businesses in North America. The fund managers plan to provide growth capital to “proven” management teams of gathering pipelines, natural gas treatment and processing plants, as well as interstate pipelines and storage. The midstream fund already has committed $215 million to five portfolio energy companies that include Cardinal Midstream and Rangeland Energy.

Houston-based EnCap Investments LP and partner Flatrock Energy Advisors, headquartered in San Antonio, have created the EnCap Energy Infrastructure Fund LP with total capital commitments of $791.6 million. The fund is tailored for investments in midstream businesses in North America. The fund managers plan to provide growth capital to “proven” management teams of gathering pipelines, natural gas treatment and processing plants, as well as interstate pipelines and storage. The midstream fund already has committed $215 million to five portfolio energy companies that include Cardinal Midstream and Rangeland Energy.

Atlas Energy Inc. said Friday it has taken on India’s largest company by market value, Reliance Industries Ltd., as a drilling partner in the Marcellus Shale in a transaction worth an estimated $1.7 billion.

Atlas Energy Inc. has taken on India’s largest company by market value, Reliance Industries Ltd., as a drilling partner in the Marcellus Shale in a transaction worth an estimated $1.7 billion, the companies announced Friday.