Privately

Peabody Energy, one of the largest privately held coal companies in the world, is making a move into the natural gas market after agreeing to become a minority investor in GreatPoint Energy Inc. GreatPoint is commercializing its “bluegas” technology to convert coal, petroleum coke and biomass into pipeline-quality gas.

Dallas-based Westside Energy Corp. has agreed to combine with privately held Crusader Energy Group, Westside said last Wednesday. The combination is intended to create a growth-oriented oil and gas company with a large unconventional resource base.

Dallas-based Westside Energy Corp. has agreed to combine with privately held Crusader Energy Group, Westside said Wednesday. The combination is intended to create a growth-oriented oil and gas company with a large unconventional resource base.

Everyone, it seems, wants a piece of one of the shale plays that are spread across North America — majors, independents, privately owned producers, master limited partnerships (MLP) and even some of the neighborhoods that sit on top of them.

Everyone, it seems, wants a piece of one of the shale plays that are spread across North America — majors, independents, privately owned producers, master limited partnerships (MLP) and even some of the neighborhoods that sit on top of them.

Petrohawk Energy Corp. has entered into a definitive agreement to sell its Gulf Coast division to a privately owned company for $825 million. The sale is expected to close during the fourth quarter.

Tulsa-based RAM Energy Resources Inc. will nearly double its proved reserves with the acquisition of privately held Ascent Energy Inc. in a cash-and-stock deal valued at around $289.5 million ($15.58/boe of proved reserves). RAM, which had estimated net proved reserves of 19.3 million boe at mid-year, said the Ascent deal will give it an additional 18.6 million boe of proved reserves, with 3,162 boe/d and upside potential from 83,000 net acres of undeveloped leasehold, most of which is in active shale plays. In the transaction, RAM will pay Ascent $185 million in cash and give it up to 20.5 million shares of its common stock. Ascent’s audited proved reserves on June 30 included 8.5 million boe of proved developed producing reserves, 1.3 million boe of proved developed nonproducing reserves and 8.8 million boe of proved undeveloped reserves. Most of Ascent’s average daily net production this year is from 31,534 gross (18,478 net) acres of developed conventional natural gas and oil properties located in South and East Texas, Oklahoma and Louisiana. In addition, Ascent, which is weighted 49% to natural gas, 44% to crude oil and 7% to natural gas liquids, also owns 84,800 gross (70,293 net) acres of unconventional shale gas leases located in the Barnett Shale in North Texas, the Woodford and Caney shales in Oklahoma and the Devonian Shale in Appalachia.

TXU Corp. announced last Wednesday the completion of its merger agreement with Texas Energy Future Holdings LP (TEF).

Representatives of some of Canada’s largest investor groups met privately with Alberta officials on Friday to voice concerns about the proposed changes to the province’s oil and natural gas royalty regime. Meanwhile, ConocoPhillips joined the growing number of dissenters and said it may cut its Canadian investments next year.