Stake

Norway’s Statoil upped its stake in the U.S. liquefied natural gas (LNG) marketplace last week, setting up an agreement for Tractebel LNG North America to deliver 34 Bcf/year to Statoil Natural Gas LLC at the Dominion Cove Point LNG import terminal in Maryland. No financial details were disclosed.

Norway’s Statoil upped its stake in the U.S. liquefied natural gas (LNG) marketplace this week, setting up an agreement for Tractebel LNG North America to deliver 34 Bcf/year to Statoil Natural Gas LLC at the Dominion Cove Point LNG import terminal in Maryland. No financial details were disclosed.

Continuing a string of agreements to up its financial stake in strategically located U.S. oil and gas assets, junior independent Energas Resources Inc. on Tuesday announced it had secured an option agreement from the Thomas Dorough Trust to explore 4,320 acres in the Wind River Basin of Wyoming. Under the agreement, Energas will be able to earn the acreage by drilling certain portions within the next two years.

Goldman Sachs Group Inc. has agreed to pay $456 million in cash for El Paso Corp.’s interests in East Coast Power LLC, which owns the natural gas-fired 940 MW Linden cogeneration facility in New Jersey.

Responding to FERC’s concerns that key customers may back out of its Greenbrier Pipeline project, Dominion Transmission Inc. reported to the agency Thursday that approximately 90% of the transportation capacity to be created by the proposed natural gas pipeline has been subscribed by power generators and local distribution companies (LDCs), a company spokesman said.

Powder River Basin Gas Corp. (PRBG) said it has signed a definitive agreement to have a “majority percent” of its capital stock and management control acquired by Evansville, IN-based Imperial Petroleum Inc. The companies said they expect the deal to close on April 1.

Powder River Basin Gas Corp. (PRBG) said Tuesday that it has signed a definitive agreement to have a “majority percent” of its capital stock and management control acquired by Evansville, IN-based Imperial Petroleum Inc. The companies said they expect the deal to close on April 1.

While scaling back its Deep Panuke exploration plans and selling its stake in the Syncrude Canada oil sands project, EnCana Corp. remains “well-positioned” to produce 3 Bcf/d to 3.1 Bcf/d in North America — without acquisitions, the company’s CEO said last week.

With its subsidiary NRG on the financial ropes and near bankruptcy, Xcel Energy on Friday announced plans to sell the Viking Gas Transmission pipeline and a one-third interest in the Guardian Pipeline project to Northern Border Partners LP for $152 million including associated debt. Northern Border Partners is expected to purchase all of the common stock of Viking by the end of December, subject to regulatory approvals.