Raise

Natural gas pipeline partnership Enterprise GP Holdings LP has filed to sell 14.875 million units in a bid to raise up to $394.5 million in an initial public offering (IPO). The limited partnership is the sole member of Enterprise Products GP LLC, which is the general partner of Enterprise Products Partners LP, which in turn is 100% owned by EPCO Inc. It would be traded under the ticker symbol “EPE” on the New York Stock Exchange. The 14.875 million units include 2.1 million units to be offered to EPCO for contribution to a partnership established to benefit certain employees of EPCO, according to the Securities and Exchange Commission filing. Based on the current distribution level and partners’ capitalization of Enterprise Products Partners, Enterprise GP Holdings said it plans to pay a quarterly dividend of 25 cents/unit, or $1.00/unit on an annualized basis. Enterprise GP Holdings said it will use the net proceeds from the IPO to repay $328.1 million of debt outstanding under its new credit facility to be entered into prior to the closing of the offering.

Natural gas pipeline partnership Enterprise GP Holdings LP late Monday filed to sell 14.875 million units in a bid to raise up to $394.5 million in an initial public offering (IPO).

ANR Pipeline should not be allowed to significantly raise the pressure of its system at a Wisconsin interconnect with Northern Natural Gas when its West Leg looping and replacement project goes into service on Nov. 1, because it would prevent the lower-pressure Northern Natural system from delivering gas into ANR’s system, Northern Natural protested.

ANR Pipeline should not be allowed to significantly raise the pressure of its system at a Wisconsin interconnect with Northern Natural Gas when its West Leg looping and replacement project goes into service on Nov. 1, because it would prevent the lower-pressure Northern Natural system from delivering gas into ANR’s system, Northern Natural protested.

A change in inventory accounting principles helped Royal Dutch/Shell Group increase net income in the first quarter by $226 million to $4.7 billion, up from the previously reported $4.43 billion. The oil major last week also updated its quarterly production figures to give investors “further clarity” ahead of its second quarter results, which will be announced July 29.

The Missouri Public Service Commission approved a $3.4 million raise in annual revenues for a portion of Aquila Networks’ gas utility operations. Aquila originally had sought to increase revenues by $6.4 million but agreed in a settlement with PSC staff, the Office of the Public Counsel and other stakeholders, to reduce its request by $3 million.

In an effort to boost oil and gas production, the chief of Mexico’s state-owned Petroleos Mexicanos (Pemex) announced that the company will drill its first Gulf of Mexico deepwater well this year in collaboration with an international petroleum consortium. Although no project partners were revealed, Pemex’s Raul Munoz Leos said drilling would be completed with state-of-the-art technology.

In an effort to boost oil and gas production, the chief of Mexico’s state-owned Petroleos Mexicanos (Pemex) announced that the company will drill its first Gulf of Mexico deepwater well this year in collaboration with an international petroleum consortium. Although no project partners were revealed, Pemex’s Raul Munoz Leos said drilling would be completed with state-of-the-art technology.

In a move to satisfy the financial terms of its $1.7 billion western energy settlement, El Paso Corp. said Tuesday it has priced a public offering of approximately 8.8 million shares of common stock at $7.85 a share.