Marathon Oil Corp. and its Canadian subsidiary sold their entire upstream interests in Western Canada to Husky Oil late last month for $588 million, or about $8.50/boe. The deal was part of Marathon’s strategy announced earlier this year to sell off more than $700 million in non-core, low return assets in order to pay down debt, strengthen its balance sheet and acquire assets with higher returns and better cash flow.
Sells
Articles from Sells
Marathon Exits Western Canada, Sells 69 million boe To Husky for $588M
Marathon Oil Corp. and its Canadian subsidiary have sold their entire upstream interests in Western Canada to Husky Oil for $588 million, or about $8.50/boe. The deal is part of Marathon’s strategy announced earlier this year to sell off more than $700 million in non-core, low return assets in order to pay down debt, strengthen its balance sheet and acquire assets with higher returns and better cash flow.
Aquila’s Green Sells 551,018 shares of Stock
Going out of its way to ensure investors that the stock sale was only a way to pay off personal income taxes, Aquila Inc. said Wednesday that CEO Richard C. Green Jr. has filed documents with the Securities and Exchange Commission (SEC) to formally report the sale of 551,018 shares of company stock.
Dynegy Sells Bonds, Executes Stock Offering for Long-Term Restructuring
Dynegy Inc. on Friday priced $1.45 billion of second priority senior secured notes as part of its credit refinancing plan, and has scheduled the offering to close August 11. The offering is part of the company’s refinancing overhaul that it announced in July, which would, among other things, begin to repay ChevronTexaco Corp. for a $1.5 billion loan it gave Dynegy to attempt its merger with Enron Corp. in November 2001.
Dynegy Sells Bonds, Executes Stock Offering for Long-Term Restructuring
Dynegy Inc. on Friday priced $1.45 billion of second priority senior secured notes as part of its credit refinancing plan, and has scheduled the offering to close August 11. The offering is part of the company’s refinancing overhaul that it announced in July, which would, among other things, begin to repay ChevronTexaco Corp. for a $1.5 billion loan it gave Dynegy to attempt its merger with Enron Corp. in November 2001.
Williams Sells Texas, Canadian Midstream Assets, Cogen Units for $100 Million+
Williams Friday announced agreements involving the sale of assets for cash proceeds in excess of $100 million. In its midstream business, Williams has completed the first sale involving a portion of its operations in Western Canada. Canadian Natural Resources Limited has purchased Williams’ West Stoddart natural gas processing plant for an undisclosed amount. The West Stoddart plant is located roughly 50 kilometers northwest of Fort St. John, British Columbia, and has a processing capacity of 120 MMcf/d.
NiSource Sells Columbia E&P Assets to Morgan Stanley Affiliate for $330M
NiSource Inc. on Thursday reached an agreement to sell its exploration and production (E&P) subsidiary to Triana Energy Holdings Inc., an affiliate of Morgan Stanley Capital Partners. The sale, consisting primarily of subsidiary Columbia Natural Resources (CNR) and its 1.1 Tcf of natural gas reserves, effectively ends NiSource’s involvement in non-regulated businesses, the CEO said.
NGPL Sells Out Firm Capacity, Inks Deals with BP, Tenaska, Peoples, Nicor
Kinder Morgan Inc. said subsidiary Natural Gas Pipeline Company of America (NGPL) has locked up all of its firm transportation capacity under contract through October and most of it through March 2004.
NGPL Sells Out Firm Capacity, Inks Deals with BP, Tenaska, Peoples, Nicor
Kinder Morgan Inc. said subsidiary Natural Gas Pipeline Company of America (NGPL) has locked up all of its firm transportation capacity under contract through October and most of it through March 2004.
NiSource Sells Columbia E&P Assets to Morgan Stanley Affiliate for $330M
NiSource Inc. on Thursday reached an agreement to sell its exploration and production (E&P) subsidiary to Triana Energy Holdings Inc., an affiliate of Morgan Stanley Capital Partners. The sale, consisting primarily of subsidiary Columbia Natural Resources (CNR) and its 1.1 Tcf of natural gas reserves, effectively ends NiSource’s involvement in non-regulated businesses, the CEO said.