Plains

Chesapeake Energy Corp. has brought aboard Plains Exploration & Production Co. (PXP) as a partner in its half a million-acre leasehold in the emerging Haynesville Shale in transactions valued at more than $3 billion.

July and August will see warmer-than-normal temperatures dominating the western United States, especially the northern Rockies and northern Plains, according to forecaster WSI Corp. of Andover, MA.

CIG reported an outage at its compression facility serving deliveries to Cheyenne Plains Gas Pipeline at the Red Cloud Meter, which reduced the interconnnect’s available operating capacity from 255 MMcf/d to 170 MMcf/d effective with the Timely scheduling cycle for Wednesday’s gas day. Based on current repair projections, CIG anticipates that the compression will be back in service on June 13, when it plans to schedule full Red Cloud capacity for the June 14 gas day.

Centrica plc subsidiary Direct Energy has completed its $300 million acquisition of Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc. Direct Energy said its commercial and industrial business unit, Direct Energy Business, is now positioned as a top-three competitive retailer of gas and electricity to commercial and industrial customers in North America. The deal was announced in April (see Daily GPI, April 3).

Direct Energy, a subsidiary of Centrica plc, has signed an agreement to acquire Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc., for a total cash consideration of $300 million, the company said last Wednesday. The transaction is debt-free and includes an amount of working capital that will be subject to a subsequent true-up.

Direct Energy, a subsidiary of Centrica plc, has signed an agreement to acquire Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc., for a total cash consideration of $300 million, the company said Wednesday. The transaction is debt-free and includes an amount of working capital that will be subject to a subsequent true-up.

Taking advantage of high commodity prices to bulk up its proved oil and natural gas reserves, Plains Exploration & Production Co. (PXP) has entered into an agreement to acquire 106 Bcfe of proved reserves and 70 Bcfe of unproved resource potential in South Texas from a private company for $335 million.

Taking advantage of high commodity prices to bulk up its proved oil and natural gas reserves, Plains Exploration & Production Co. (PXP) has entered into an agreement to acquire 106 Bcfe of proved reserves and 70 Bcfe of unproved resource potential in South Texas from a private company for $335 million.

Houston-based Plains Exploration & Production Co. (PXP) and certain of its subsidiaries agreed to sell certain working interests in oil and gas properties to a subsidiary of Occidental Petroleum Corp. (Oxy) and to XTO Energy Inc. in two separate transactions worth a combined $1.75 billion. PXP also said it is increasing its share repurchase authorization to $1 billion.