Purchase

Kodiak Oil & Gas Corp. said Wednesday it has agreed to purchase 13,500 net acres in the Bakken Shale play from an undisclosed private oil and gas company for about $235 million in cash. It also agreed to assume the terms of a contract for its sixth drilling rig.

High Point Gas Transmission (HPGT) will purchase onshore and offshore natural gas pipeline assets in southeast Louisiana from Southern Natural Gas Co. (SNG), the companies said Friday. Financial terms of the deal, which is expected to close next year, were not disclosed.

Less than a month after Australian energy giant BHP Billiton Ltd. disclosed plans to purchase Petrohawk Energy Corp., the Houston-based company announced that 2Q2011 production grew 15% and revenues shot up 21% from the previous quarter, propelling the company to huge profits.

Less than a month after Australian energy giant BHP Billiton Ltd. disclosed plans to purchase Petrohawk Energy Corp., the Houston-based company announced Wednesday that 2Q2011 production grew 15% and revenues shot up 21% from the previous quarter, propelling the company to huge profits.

Mountainview Energy Ltd. announced it intends to acquire a 20% interest in approximately 67,000 gross acres (about 13,400 net acres) in the Bakken/Three Forks Shale in a stock deal valued at about C$21.5 million. The parcels are located in the Medicine Lake Prospect, which is in Divide County, ND, and Richland, Roosevelt and Sheridan counties, MT. The acquisition will increase Mountainview’s position in the Williston Basin to approximately 25,400 net acres.

Less than a month after Australian energy giant BHP Billiton Ltd. disclosed plans to purchase Petrohawk Energy Corp., the Houston-based company announced Wednesday that 2Q2011 production grew 15% and revenues shot up 21% from the previous quarter, propelling the company to huge profits.

Blue Dolphin Energy Co. said it will purchase the Nixon Crude Processing Facility from a privately held firm in a stock deal, the value of which was not disclosed. The facility has a processing capacity of 15,000 b/d along with storage capacity of 295,000 b/d, and is located in the Eagle Ford Shale at Nixon, TX, on 56 acres between Gonzales and Wilson counties. The plant is in the final phase of a refurbishment project and plans to restart operations during 4Q2011.

Williams on Thursday offered to acquire Southern Union Co. for $44/share in cash for a total enterprise bid of $9.4 billion — a deal that is 10% above the $40/share purchase price offered by Energy Transfer Equity LP (ETE) earlier this month and 56% more than Southern Union’s closing price on June 15, the last trading day before ETE launched its takeover (see Daily GPI, July 6; June 17).

The chairman of Energy Transfer Equity LP (ETE) said Thursday the merger with natural gas pipeline giant Southern Union Co. (SUG) will give the combined company more customer market access in U.S. shale gas plays and alleviate some growing takeaway issues.