With its subsidiary NRG on the financial ropes and near bankruptcy, Xcel Energy on Friday announced plans to sell the Viking Gas Transmission pipeline and a one-third interest in the Guardian Pipeline project to Northern Border Partners LP for $152 million including associated debt. Northern Border Partners is expected to purchase all of the common stock of Viking by the end of December, subject to regulatory approvals.
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MCN Sells Midcontinent, Gulf E&P Assets
MCN Energy Group said it has agreed to sell the second of itsfour exploration and production (E&P) packages to an unnamedbuyer(s). The second package is made up of 150 Bcfe of provedreserves in the Midcontinent and Gulf Coast regions and drew atotal of $115 million. The assets sold represent about 13% of thetotal assets MCN put up for sale last year. About 80% of thereserves sold in the second package were gas. Not included wereMCN’s seismic data and exploratory leasehold interests in theCotton Valley Pinnacle Reef play in east Texas, the company said.Those assets apparently will be included in a later sale.