Unloads

Northwest Natural Gas announced the sale of its Canadian oil andgas exploration subsidiary, Canor Energy Ltd, for C$87.5 million incash to Celsius Energy Resources Ltd, a Canadian exploration andproduction company owned by Questar Corp.

Northwest Natural Gas announced the sale of its Canadian oil andgas exploration subsidiary, Canor Energy Ltd, for C$87.5 million incash to Celsius Energy Resources Ltd, a Canadian exploration andproduction company owned by Questar Corp.

Southwestern Energy sold its Missouri gas distribution assets toAtmos Energy last week for $32 million in cash, but SouthwesternCEO Harold M. Korell said the company isn’t ready to part with itsArkansas utility operations to complete its transformation intoentirely an exploration and production company.

Southwestern Energy sold its Missouri gas distribution assets toAtmos Energy yesterday for $32 million in cash, but SouthwesternCEO Harold M. Korell said the company isn’t ready to part with itsArkansas utility operations to complete its transformation intoentirely an exploration and production company.

TPC Corp. is changing hands yet again as PacifiCorp unloads yet another non-core asset. NIPSCO Industries subsidiary NI Energy Services is buying Houston-based TPC for $132.5 million. The deal also involves a payment for working capital to be determined at closing. NI Energy Services also gets PacifiCorp’s 66% interest (held by TPC) in Market Hub Partners LP (MHP).

Western Gas Resources said Friday it sold its Edgewood gasgathering system and related facilities to Dynegy Inc. for $6.1million, and sold production assets upstream of Edgewood and a 50%joint venture interest in Redman Smackover production project inEast Texas to Vintage Petroleum for $49.7 million. The proceedsfrom the two separate transactions total $55.8 million, and Westernsaid it expects to recognize a pre-tax gain of $1 million from thesales in the fourth quarter of 1998. Both transactions closed Oct.29 with effective dates of July 1, 1998 and Nov. 1, 1998,respectively.

Western Gas Resources said Friday it sold its Edgewood gasgathering system and related facilities to Dynegy Inc. for $6.1million, and sold production assets upstream of Edgewood and a 50%joint venture interest in Redman Smackover production project inEast Texas to Vintage Petroleum for $49.7 million. The proceedsfrom the two separate transactions total $55.8 million and Westernsaid it expects to recognize a pre-tax gain of $1 million from thesales in the fourth quarter of 1998. Both transactions closed Oct.29 with effective dates of July 1, 1998 and Nov. 1, 1998,respectively.

Dynegy Inc. continued downsizing its field services operationsyesterday by signing an agreement to sell its 56% interest in the85 MMcf/d Roberts Ranch natural gas processing plant in MidlandCounty, TX, to Duke Energy Field Services, which operates two otherplants in Midland.