Sells

Williams has signed three agreements to sell off its entire remaining business interests in Alaska for a total of $265 million in cash, subject to closing adjustments. The transactions will eliminate two cash-collateralized letters of credit that Williams has with the state, releasing $90.9 million back to the company.

CMS Energy said it would use the proceeds from the sale of its Marysville Gas Liquids subsidiary to reduce debt. The Jacksonville, MI company said Thursday it had sold the terminal to Marysville Hydrocarbons Inc. for an undisclosed amount.

Williams has signed three agreements to sell off its entire remaining business interests in Alaska for a total of $265 million in cash, subject to closing adjustments. The transactions will eliminate two cash-collateralized letters of credit that Williams has with the state, releasing $90.9 million back to the company.

Taking a significant step in its effort to exit the merchant energy business, Aquila Inc. Thursday sold 12 power plants totaling 643 MW to Teton Power Funding, LLC, an affiliate of ArcLight Capital Partners, LLC, for $300.9 million.

While its top utility executives were in San Francisco testifying in state regulatory hearings in support of future cost-of-service rate increases, San Diego-based Sempra Energy announced Tuesday it plans to sell 15 million shares of common stock, which has been hovering near its 52-week high market price.

In a planned move to give more independence to its master limited partnership (MLP), El Paso Corp. on Friday announced it has sold a 9.9% interest in GulfTerra Energy Partners LP to Goldman Sachs & Co.

In a planned move to give more independence to its master limited partnership (MLP), El Paso Corp. on Friday announced it has sold a 9.9% interest in GulfTerra Energy Partners LP to Goldman Sachs & Co.

Shell Exploration and Production Co. agreed Friday to sell its Michigan assets to Dallas-based Merit Energy Co. for $445 million. The Michigan asset sale is part of Royal Dutch/Shell Group’s announced plans to divest $500 million of exploration and production (E&P) assets this year (see Daily GPI, March 27).

Provident Energy Trust, a Calgary-based open-ended energy income trust, has agreed to acquire the Redwater Natural Gas Liquids (NGL) Processing System from Williams Energy Canada. Provident, which plans to operate the facilities, will pay $196 million in cash for the fixed assets and an estimated $22 million for NGL inventories when the transaction closes.