Strategic

Denver-based Delta Petroleum Corp. has retained Morgan Stanley and Evercore Partners to evaluate and advise the board of directors on “strategic alternatives” that may include selling “some or all” of the company’s assets, entering into partnerships or joint venture opportunities, or selling the entire company. Delta said it would not comment until the board has approved a specific transaction or when there are “significant developments.” Delta’s core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production and long-term growth prospects (see Daily GPI, April 8; Dec. 24, 2008; Aug. 28, 2008).

The fundamentals of the natural gas industry worldwide have changed, with reduced demand and an oversupply creating a “strategic change” for suppliers and a “tougher” long-term pricing outlook, Wood Mackenzie researchers said in a report.

The fundamentals of the natural gas industry worldwide have changed, with reduced demand and an oversupply creating a “strategic change” for suppliers and a “tougher” long-term pricing outlook, Wood Mackenzie researchers said in a new report.

ExxonMobil Corp. took a sharp strategic turn toward renewable energy research last week, announcing an alliance with Synthetic Genomics Inc. (SGI) to research and develop next-generation biofuels from photosynthetic algae.

ExxonMobil Corp. took a sharp strategic turn toward renewable energy research on Tuesday, announcing an alliance with Synthetic Genomics Inc. (SGI) to research and develop next-generation biofuels from photosynthetic algae.

Calling the deal “a strategic entry point into one of the largest emerging natural gas plays in North America at an attractive price,” Williams on Monday closed a joint venture agreement with Atlas Pipeline Partners LP that provides the company access to the Marcellus Shale.

Italian producer Eni, which up to now has kept its U.S. exploration efforts confined to the Gulf of Mexico (GOM) and Alaska, has formed a strategic alliance with Quicksilver Resources Inc. to acquire, develop and exploit some of Quicksilver’s Barnett Shale leasehold.

Italian producer Eni, which up to now has kept its U.S. exploration efforts confined to the Gulf of Mexico (GOM) and Alaska, has formed a strategic alliance with Quicksilver Resources Inc. to acquire, develop and exploit some of Quicksilver’s Barnett Shale leasehold.

Centrica plc subsidiary Direct Energy has completed its $300 million acquisition of Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc. Direct Energy said its commercial and industrial business unit, Direct Energy Business, is now positioned as a top-three competitive retailer of gas and electricity to commercial and industrial customers in North America. The deal was announced in April (see Daily GPI, April 3).