Sells

In a story published July 8, “NatGas Gasoline Fueling Research” (see NGI, July 8), NGI incorrectly stated that Primus Green Energy sells a gasoline product for about $2.00/gallon. In fact, the company creates the product at a cost of $2.00/gallon. In addition, NGI incorrectly stated that the company expects to produce 10,000 gallons of fuel annually. The company actually plans to produce 100,000 gallons of fuel annually. NGI regrets the errors.

Dominion Resources last week said it completed the sale of the majority of its natural gas and oil assets in British Columbia for an estimated C$584 million (US$476 million). The sale consisted of five separate transactions.

Dominion Resources said Monday it completed the sale of the majority of its natural gas and oil assets in British Columbia for an estimated C$584 million (US$476 million). The sale consisted of five separate transactions.

Key Energy Services Inc., the world’s largest rig-based, onshore well service company, said Monday it has completed the sale of the majority of its U.S. land drilling assets to Patterson-UTI Energy Inc. of Snyder, TX, for approximately $62 million in cash.

Houston-based producer Contango Oil & Gas Co. said Wednesday that it has completed the sale of substantially all of its South Texas natural gas and oil interests to Edge Petroleum Corp. for $50 million.

El Paso Corp. took several more steps last Wednesday in its effort to sell its domestic power portfolio and reduce its debt. The company said it is selling interests in its Cedar Brakes I and II power companies, which supply Public Service Electric and Gas Co., to Bear Stearns affiliate Arroyo Energy Investors LP for $106 million.

Key Energy Services Inc. said it is selling the assets of its U.S. land drilling operations to Patterson-UTI Energy Inc. for $62 million in cash and will retain $10 million in working capital of the business, net of other liabilities.

Key Energy Services Inc. said it is selling the assets of its U.S. land drilling operations to Patterson-UTI Energy Inc. for $62 million in cash and will retain $10 million in working capital of the business, net of other liabilities.

The Oil & Gas Asset Clearinghouse sold more than $39 million in properties at the hybrid auction held Nov. 10 in Houston, offering 282 lots for sale. About 330 registered bidders competed for properties, with 32% bidding via the Internet.