A decision to spin off its exploration and production (E&P) unit as a pure-play producer will give Williams shareholders more opportunities to target their investments, CEO Alan Armstrong said Thursday.
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QEP Resources Inc. has completed its tax-free spin-off from Questar Corp., a transaction that was launched earlier this year (see Daily GPI, May 19). All of QEP Resources’ common stock was distributed through a pro rata dividend to Questar shareholders. Each Questar shareholder received one share of QEP Resources common stock for each share of Questar common stock (including fractional shares) held on the record date, June 18. Shares of QEP Resources are trading on the New York Stock Exchange under the “QEP” symbol.
Penn Virginia Positions Itself as Pure-Play E&P Company
With the goal of becoming a pure-play natural gas and oil producer, Radnor, PA-based Penn Virginia Corp. (PVA) last week completed the spin-off of its interests in Penn Virginia GP Holdings, LP (PVG).
Anadarko Midstream Unit to Spin Off as Partnership
Western Gas Partners LP, the midstream partnership formed by Anadarko Petroleum Corp. earlier this year, will spin off as a separate company to hold some of the producer’s domestic assets in an offering expected to fetch $375 million.
Anadarko to Spin Off Midstream Business as Separate Company
Western Gas Partners LP, the midstream partnership formed by Anadarko Petroleum Corp. earlier this year, will spin off as a separate company to hold some of the producer’s domestic assets in an offering expected to fetch $375 million.
Dominion Resources Considers E&P Spin-off, Sale of Nonstrategic Assets
Dominion Resources Inc. is considering a shake up of its wide-ranging business operations that may include a spin-off or sale of its profitable exploration and production (E&P) business and other nonstrategic assets next year. The company plans to refocus on its utility operations, CEO Tom Farrell said Tuesday.
Targa to Spin Off North Texas Midstream Assets
Tightly held Targa Resources Inc. plans to spin off its North Texas midstream assets, which include 3,950 miles of integrated natural gas gathering pipelines, two natural gas processing plants and a fractionator in the Fort Worth area, through an initial public offering (IPO) of 16.8 million common units.
Dominion Resources Considers E&P Spin-off, Sale of Nonstrategic Assets
Dominion Resources Inc. is considering a shake up of its wide-ranging business operations that may include a spin-off or sale of its profitable exploration and production (E&P) business and some nonstrategic assets next year. The move, said CEO Tom Farrell last week, will allow the company to refocus on its utility operations.
Kerr-McGee Undecided on Selling, Spinning Off Chemicals Unit
Oklahoma City-based Kerr-McGee Corp.’s CEO said last week that a decision to sell or spin off the company’s chemical division will be made by the end of the year. The company announced in March it would exit the chemicals business to concentrate on oil and natural gas exploration (see NGI, March 14).
Kerr-McGee Undecided on Selling, Spinning Off Chemicals Unit
Oklahoma City-based Kerr-McGee Corp.’s CEO said Tuesday that a decision to sell or spin off the company’s chemical division will be made by the end of the year. The company announced in March it would exit the chemicals business to concentrate on oil and natural gas exploration (see Daily GPI, March 9).