Questar Corp. said on Friday that its Questar Market Resources Inc. (QMR) subsidiary has entered an agreement with EnerMark Inc., a subsidiary of Calgary-based Enerplus Resources Fund, to sell its Canadian exploration and production subsidiary, Celsius Energy Resources Ltd. (CERL), for $101 million (C$160 million).
Unloads
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Questar Unloads Canadian E&P Unit for $101 Million
Questar Corp. said on Friday that its Questar Market Resources Inc. (QMR) subsidiary has entered an agreement with EnerMark Inc., a subsidiary of Calgary-based Enerplus Resources Fund, to sell its Canadian exploration and production subsidiary, Celsius Energy Resources Ltd. (CERL), for $101 million (C$160 million).
Aquila Unloads Energy Manager Service Business
Continuing along its chosen path of focusing on its wholesale and energy risk management businesses, Kansas City, MO-based Aquila Inc. said on Monday that it has sold the retail energy manager services business of UtiliCorp Energy Solutions to Energy Management Resources Inc., a nationwide provider of energy supply management services to commercial and industrial customers throughout the United States.
Dominion Unloads $948M in Commercial Loans
As part of its house cleaning following its merger withConsolidated Natural Gas, Dominion Resources announced Friday thatit has agreed to sell to GE Capital Commercial Finance $948 millionin commercial loans held by First Source Financial, a unit of itsDominion Capital subsidiary.
Utilicorp Unloads Retail Sales Unit to EPCOR
UtiliCorp United announced that a Canadian subsidiary is sellingoff its retail electricity business in Alberta for US$75 million toEPCOR, an Alberta power, water and natural gas company based inEdmonton. Utilicorp will retain the wires portion of its Albertaelectricity holdings, which include about 54,000 miles oflow-voltage distribution lines. It entered the Alberta retail powermarket only seven months ago with the purchase of TransAlta Corp.’sprovincial assets for $450 million.
July Unloads 34.9 Cents, Drops Below $4
Futures succumbed to another major technical correctionyesterday as the July contract gapped 2.5 cents lower at the openand dropped a dime early on before plummeting after the AGA gasstorage report came out at 2 p.m. At the end of the regular tradingsession, July was down 34.9 cents, August had dropped 35.1 centsand September was off 33.1 cents. The July contract had a 39-centrange for the day, trading as high as $4.335 and as low as $3.930.
MCN Unloads Jonah Field Assets
MCN Energy Group Inc. is selling its 35% interest in Jonah GasGathering Co. to Green River Pipeline, LLC — a move top MCNofficials say is related to the company’s desire to focus attentionon its Midwest-to-Northeast region. Green River, MCN’s partner,will pay $45 million in exchange for the stake in the venture.
Unable to Turn a Profit, PG&E Unloads Texas Assets
The assets serve all major metropolitan areas, the largest industrialload centers, and numerous natural gas trading hubs, El Paso said. Theyare also well positioned to serve many of the state’s existing and plannedgas-fired electric generation facilities. Included in the transaction are8,500 miles of natural gas transmission pipelines that transport approximately2.8 Bcf/d, nine processing plants that currently process 1.5 Bcf/d, anda 7.2 Bcf natural gas storage field. The transaction also includes significantnatural gas liquids pipelines and fractionation facilities.
Dynegy Finalizes Merger, Unloads Assets
The shape of Dynegy changed significantly last week with thecompletion of the company’s merger with Illinova and the unloadingof some major Midcontinent gathering and processing assets
Dynegy Unloads $308M in Midstream Assets to Oneok
With the Dynegy-Illinova merger nearing completion, Dynegyunloaded some major Midcontinent gathering and processing assetsyesterday in a $307.7 million sale to Oneok in an effort tostreamline its midstream operations. The move will leave Dynegy’smidstream assets focused on several core regions and will helpreduce its new equity offering by several million dollars.