Dallas-based Energy Transfer Co., a privately-owned gas gathering, processing and pipeline company that owns the existing South Texas and Oasis pipeline systems, said it has started construction of a new 60-mile, 650 MMcf/d pipeline from Limestone County, TX, to the Katy Hub in East Texas. The new system will relieve congestion that currently is backing up rapidly growing East Texas gas production.
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Energy Transfer Plans New 650 MMcf/d East Texas Pipeline
Dallas-based Energy Transfer Co., a privately-owned gas gathering, processing and pipeline company that owns the existing South Texas and Oasis pipeline systems, said it has started construction of a new 60-mile, 650 MMcf/d pipeline from Limestone County, TX, to the Katy Hub in East Texas. The new system will relieve congestion that currently is backing up rapidly growing East Texas gas production.
CMS Closes O&G Asset Sale to European-based Perenco
CMS Energy Corp. announced Monday it has closed a sale of the stock of CMS Oil and Gas Co. and its affiliate, CMS Oil and Gas (International), for $167 million to Perenco, a privately-held European exploration and production company, putting CMS close to its goal of raising $2.9 billion through asset sales.
Aquila Sells Oasis Stake, Two Gas Pipe Systems for $265M Cash
Energy Transfer Co., a privately held Dallas-based company, is paying $265 million in cash for Aquila Inc.’s 50% ownership in the 600-mile Oasis natural gas pipeline system, as well as the company’s Southeast Texas and Mid-Continent pipeline systems, which include natural gas and gas liquids processing assets. In just a few months, Aquila has announced asset sales totaling $483 million.
Aquila Sells Oasis Stake, Two Gas Pipe Systems for $265M Cash
Energy Transfer Co., a privately held Dallas-based company, has agreed to pay $265 million in cash for Aquila Inc.’s 50% ownership in the 600-mile Oasis natural gas pipeline system, as well as the company’s Southeast Texas and Mid-Continent pipeline systems, which include natural gas and gas liquids processing assets. In just a few months, Aquila has announced asset sales totaling $483 million.
Task Force Records Reveal Energy Execs’ Access to Bush Officials
Energy Secretary Spencer Abraham met privately with 39 energy companies and trade associations while the task force on which he sat developed President Bush’s national energy policy, but he held no meetings with representatives of environmental and consumer groups, according to The Center for Responsive Politics’ (CRP) review of Department of Energy (DOE) task-force documents that were released last week.
Penn Virginia Acquires Private Texas Reserves
In a $112 million cash transaction, Penn Virginia Corp., headquartered in Radnor, PA, is acquiring Synergy Oil & Gas Inc. of Houston, a privately owned independent. Synergy’s exploration and production is focused along the onshore Texas Gulf Coast and in West Texas, holding about 59.2 Bcfe in total net proved reserves, with 55% in natural gas.
Penn Virginia Acquires Private Texas Reserves
In a $112 million cash transaction, Penn Virginia Corp., headquartered in Radnor, PA, is acquiring Synergy Oil & Gas Inc. of Houston, a privately owned independent. Synergy’s exploration and production is focused along the onshore Texas Gulf Coast and in West Texas, holding about 59.2 Bcfe in total net proved reserves, with 55% in natural gas.
AEC Doubles Rocky Mountain Presence
AEC Oil & Gas Inc. picked up its second group of Rocky Mountain assets last week, announcing its acquisition of the privately held Piceance Basin properties of Billings, MT-based Ballard Petroleum LLC. Ballard’s Mamm Creek field in northwest Colorado is estimated to be worth C$340 million (US$225 million), with 175,000 net undeveloped acres worth about C$35 million and a gas pipeline system worth C$31 million.
AEC Doubles Rocky Mountain Presence
AEC Oil & Gas Inc. picked up its second group of RockyMountain assets yesterday, announcing its acquisition of theprivately held Piceance Basin properties of Billings, MT-basedBallard Petroleum LLC. Ballard’s Mamm Creek field in northwestColorado is estimated to be worth C$340 million (US$225 million),with 175,000 net undeveloped acres worth about C$35 million and agas pipeline system worth C$31 million.