China National Oil Corp. (CNOOC) has agreed with BG Group to take an additional stake in the Queensland Curtis LNG (QCLNG) project in Australia for A$1.93 billion. CNOOC also agreed to take an additional 5 million tonnes per annum (mtpa) of LNG from BG Group. The deal will make BG Group the largest supplier of liquefied natural gas (LNG) to China, the company said.
Articles from Retains
Tomball, TX-based independent JBL Energy Partners and its partners completed the sale of an interest in 17,000 acres in Leon County, TX, within the Woodbine oil play to Halcon Resources. The sale included all oil, gas and mineral rights owned by JBL and its partners within the acreage position.
Charlotte, NC-based Piedmont Natural Gas (PNG) has completed the $57.5 million sale of half of its 30% interest in SouthStar Energy Services to AGL Resources, effective Jan. 1. PNG retains a 15% ownership and earnings interest in SouthStar, which is no longer subject to any purchase option in favor of AGL. The deal increases to 85% AGL’s ownership interest in Atlanta-based SouthStar, which provides natural gas, transportation and related services to more than 500,000 residential, commercial and industrial customers under the trade names Georgia Natural Gas, Piedmont Energy, Florida Natural Gas and Ohio Natural Gas.
Houston Exploration Co. (THX) shares spiked more than $5 last Tuesday morning to a new 52-week high after its parent company KeySpan Corp. announced plans to transfer 10.8 million THX shares back to the exploration and production (E&P) affiliate in exchange for 100% of a wholly owned THX subsidiary, Seneca-Upshur Petroleum Inc., including 50.5 Bcf of Appalachian gas reserves.
Houston Exploration Co. (THX) shares spiked more than $5 Tuesday morning to a new 52-week high and ended the day up 9% at $49.70 after KeySpan Corp. announced plans to transfer 10.8 million THX shares back to the exploration and production (E&P) affiliate in exchange for 100% of a wholly owned THX subsidiary, Seneca-Upshur Petroleum Inc.
Williams CEO Steve Malcolm said during a conference call with analysts Wednesday that despite the potential for $5 billion in asset sales this year, including the eight large assets still on the auction block, the company still will retain a major presence in the energy business, including a premier exploration and production operation in the Rocky Mountain region, a large midstream presence in the Rockies and Gulf Coast regions, 20,000 miles of interstate pipelines, a 54% stake in a profitable master limited energy partnership, and 60% of its former energy marketing and trading portfolio.