Stake

Enbridge Inc., a Calgary-based energy transportation anddistribution company, entered the midstream business last week withthe purchase of a 35% share in AltaGas Inc., a Calgary-basedmidstream gas company, for $160 million. The deal is expected toclose in September.

Enbridge Inc., a Calgary-based energy transportation anddistribution company, entered the midstream business yesterday withthe purchase of a 35% share in AltaGas Inc., a Calgary-basedmidstream gas company, for $160 million. The deal is expected toclose in September.

Westcoast Energy announced plans to buy an additional 9.1% shareof the now-approved Alliance Pipeline Project from Unocal Corp.,which indicated its interest in selling the share earlier this yearas part of a corporate restructuring. The purchase will increaseWestcoast’s total interest in the project to 23.6% from 14.5%.Westcoast’s total equity in the project is now about $500 million.The sale is scheduled to close by the end of December, subject tothe completion of formal agreements.

Williams Energy Services has acquired full ownership ofVolunteer Energy Corp., increasing its stake from 50%.

Evergreen Resources Inc. last week reached an agreement toacquire Amoco Production’s oil and gas interests in the Raton Basinof Colorado, resolving current litigation matters between the twoproducers.

Analysts were not surprised by Monday’s announcement that DuPontintends to sell its stake in Conoco. In fact, some wondered whattook the company so long. “That’s something they’ve [talked about]for a long time and they’re finally acting on that,” said CarolFreedenthal of Houston-based Jofree Corp. “I guess they’ve just gotbetter places they can put their money than the oil and gasbusiness.”