Sells

Resolute Natural Resources Co. and Navajo Nation Oil and Gas Co. (NNOG) have entered into an agreement to acquire some ChevronTexaco Corp. property in the Greater Aneth Field in southeast Utah for an undisclosed amount.

In a dramatic move that shows its unwavering focus on its unconventional North American natural gas business and oilsands operations, EnCana Corp. announced a $2.1 billion sale Friday of its entire United Kingdom North Sea oil assets, including a 43.2% interest in the massive Buzzard oil field, to Nexen Inc. EnCana also said it plans to sell its Gulf of Mexico holdings and exit Ecuador in 2005.

In a dramatic move that shows its unwavering focus on its unconventional North American natural gas business and oilsands operations, EnCana Corp. announced a $2.1 billion sale Friday of its entire United Kingdom North Sea oil assets, including a 43.2% interest in the massive Buzzard oil field, to Nexen Inc. EnCana also said it plans to sell its Gulf of Mexico holdings and exit Ecuador in 2005.

In a dramatic move that shows its unwavering focus on its unconventional North American natural gas business and oilsands operations, EnCana Corp. announced a $2.1 billion sale Friday of its entire United Kingdom North Sea oil assets, including a 43.2% interest in the massive Buzzard oil field, to Nexen Inc. EnCana also said it plans to sell its Gulf of Mexico holdings and exit Ecuador in 2005.

With its founder and former CEO now back at the helm, Vintage Petroleum Inc. last week sold its underperforming Canadian oil and natural gas properties to Calgary-based Midnight Oil and Gas Ltd. in a cash-for-stock transaction worth C$350 million (US$270 million).

With its founder and former CEO now back at the helm, Vintage Petroleum Inc. on Thursday agreed to sell its underperforming Canadian oil and natural gas properties to Calgary-based Midnight Oil and Gas Ltd. in a cash-for-stock transaction worth C$350 million (US$270 million).

Anadarko Petroleum Corp. is divesting “Phase 1” of its Canadian properties to a subsidiary of Calgary-based Advantage Energy Income Fund for $142 million. The package holds an estimated 9.9 MMboe of proved reserves and current net production of 4,500 boe/d (net after royalties).

In another asset sale in less than a week, Anadarko Petroleum Corp. on Tuesday announced an agreement to divest “Phase 1” of its Canadian properties to a subsidiary of Calgary-based Advantage Energy Income Fund for $142 million. The package holds an estimated 9.9 MMboe of proved reserves and current net production of 4,500 boe/d (net after royalties).

Allegheny Energy subsidiary Monongahela Power Co. has reached an agreement to sell all of its natural gas distribution operations in West Virginia to a partnership of IGS Utilities LLC, IGS Holdings LLC and affiliates of ArcLight Capital Partners LLC for $141 million in cash, $87 million in assumed long-term debt and $16 million to settle certain inter-company accounts over the next three years.