Repurchases

The value of global oil and gas deals reached $85 billion during 3Q2010, but U.S. shale gas deals in the quarter lost the momentum from the first half of the year, according to a survey by Evaluate Energy Inc., which tracks global merger and acquisition (M&A) activity on a daily basis.

Once Tenaska Inc. repurchases the half interest of its North American natural gas marketing arm currently owned by affiliates of American International Group Inc. (AIG), it likely will be looking for a new partner “sooner rather than later,” a company executive said last week.

Once Tenaska Inc. repurchases the half interest of its North American natural gas marketing arm currently owned by affiliates of American International Group Inc. (AIG), it likely will be looking for a new partner “sooner rather than later,” a company executive said Wednesday.

Devon Energy Corp.’s quarterly profit rose sharply on rising energy prices, share repurchases and operational improvements, but its oil and natural gas production, compared with a year ago, was down because of hurricane impacts and asset sales. Meanwhile, Southwestern Energy Co., which concentrates its activities in some of the same U.S. onshore regions as Devon, increased its gas-rich volumes 14% and boosted earnings 79% in 1Q2006.

Devon Energy Corp.’s quarterly profit rose sharply on rising energy prices, share repurchases and operational improvements, but its oil and natural gas production, compared with a year ago, was down because of hurricane impacts and asset sales. Southwestern Energy Co., which concentrates in some of the same U.S. onshore regions as Devon, increased its gas-rich volumes 14% and boosted earnings 79% in 1Q2006.