Shareholders of Canada’s Tarragon Oil and Gas Ltd. yesterdayapproved the indirect acquisition of their company by Marathon Oilfor an estimated $1.1 billion. Still, the final fate of the mergerwas up to the Ontario Court (General Division), which was expectedto issue a favorable decision either late Tuesday or today.
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The natural gas policy options paper, still officially underwraps at FERC, apparently has blown enough of its cover to piquethe interest of lawmakers on Capitol Hill, and start the war-drumswithin the industry, according to sources.
May cash prices made a stab at climbing a little higherWednesday, and indeed, one trader said he was “still struggling” tobuy Sonat gas with offers in the low $2.30s. But other sources,while agreeing there was an early push for higher prices, said thenumbers were starting to soften again in the afternoon. “Everybodywent to lunch and then things fell apart,” as a marketer put it.