Stock

Pogo Producing Co. said it purchased the stock of a private company with about 90 Bcfe of proven West Texas gas reserves for $208 million, including $35 million of assumed debt. The acquisition is expected to be immediately accretive to Pogo’s earnings, cash flow, production and reserves per share, the company said. It expects to finance the acquisition with available cash and bank debt.

The transaction is valued at $2.3 billion. Ameren assumed about $1.8 billion in IP debt and preferred stock, placed $100 million in a six-year escrow account for contingent environmental liabilities, and it paid the balance in cash to Dynegy.

Offshore pioneer Kerr-McGee Corp. said its stockholders and those of Denver-based Westport Resources Corp. on Friday overwhelmingly approved the merger of the companies during special meetings of each company.

Offshore pioneer Kerr-McGee Corp. said its stockholders and those of Denver-based Westport Resources Corp. on Friday overwhelmingly approved the merger of the companies during special meetings of each company.

ChevronTexaco Corp. has approved a program to repurchase up to $5 billion of the company’s common stock. The repurchases were to begin Thursday and continue for up to three years.

Due to high drilling costs and pack ice delays, Calgary-based Canadian Superior Energy Inc. said that despite encountering gas pay in multiple zones on its Mariner I-85 well, it has temporarily halted drilling on the deepwater prospect because of pack ice and potential cost overruns.

Due to high drilling costs and pack ice delays, Calgary-based Canadian Superior Energy Inc. said that despite encountering gas pay in multiple zones on its Mariner I-85 well, it has temporarily halted drilling on the deepwater prospect because of pack ice and potential cost overruns.

Riverton, WY-based U.S. Energy Corp. (USE) and its majority-owned subsidiary, Crested Corp., said last week that their Rocky Mountain Gas Inc. (RMG) subsidiary has entered into an agreement to acquire coalbed methane (CBM) properties in the Powder River Basin of Wyoming from a undisclosed party for a combination of cash and equity. Financial terms of the transaction were not disclosed.

Riverton, WY-based U.S. Energy Corp. (USE) and its majority-owned subsidiary, Crested Corp., reported Tuesday that their Rocky Mountain Gas Inc. (RMG) subsidiary has entered into an agreement to acquire coalbed methane (CBM) properties from a non-disclosed party in the Powder River Basin of Wyoming for a combination of cash and equity. Financial terms of the transaction were not disclosed.