Unloads

In a huge transaction Friday, Anadarko Petroleum Corp. announced it will sell nearly all of its Gulf of Mexico (GOM) Shelf properties through two transactions totaling $1.312 billion. Morgan Stanley Capital Group Inc. bought an overriding royalty interest for $775 million, while the shallow water properties were sold to Apache Corp. for $537 million.

The Williams Companies continued unloading assets last week in its effort to strengthen its balance sheet and realign its operations. The latest sales include some of Transcontinental Gas Pipe Line’s gas transportation assets in Texas to Crosstex for $27 million and three straddle plants in Western Canada to Inter Pipeline Fund of Calgary for C$715 million (US$540 million).

In addition to the sale of some of Transcontinental Gas Pipe Line’s gas transportation assets in Texas to Crosstex earlier this week (see related story), Williams also has agreed to sell three straddle plants in Western Canada to Inter Pipeline Fund of Calgary for C$715 million (US$540 million).

Acclaim Energy Trust and Enerplus Resources Fund, two large Canadian income trusts, last week snapped up ChevronTexaco Corp.’s Western Canadian exploration and production assets, including 13 producing fields with about 38,500 bbl/d of production, for US$800 million.

Acclaim Energy Trust and Enerplus Resources Fund, two large Canadian income trusts, have snapped up ChevronTexaco Corp.’s Western Canadian exploration and production assets, including 13 producing fields with about 38,500 bbl/d of production, for US$800 million.

Duke Energy continued a major divesture program last week, selling about $138 million in surplus power generation and power plant equipment to two separate counterparties and unloading US$1.238 billion (A$1.69 billion) in pipeline and power plant assets in Australia and New Zealand to Australian combination utility company Alinta Ltd.

El Paso Energy Merchant domestic power portfolio is down to nearly nothing, after the company announced Friday its plans to sell 25 of its U.S. generation facilities to Northern Star Generation LLC for $746 million and the assumption of $174 million of debt. The El Paso Corp. facilities are located in seven states and have a net capacity of 1,850 MW.

El Paso Energy Merchant domestic power portfolio is down to nearly nothing, after the company announced Friday its plans to sell 25 of its U.S. generation facilities to Northern Star Generation LLC for $746 million and the assumption of $174 million of debt. The El Paso Corp. facilities are located in seven states and have a net capacity of 1,850 MW.

Devon Energy has agreed to sell its Cherokee coalbed methane project in the Anadarko Basin in southeastern Kansas and northeastern Oklahoma to Oklahoma City-based Quest Resource Corp. for $126 million, which Devon said is approximately equal to its net investment in the assets. The deals is expected to close next week.