Enterprise Buys Piceance Basin Gathering Pipe from EnCana

Enterprise Products Partners LP announced Tuesday that its affiliate Enterprise Gas Processing LLC has purchased Piceance Creek Pipeline LLC from EnCana Oil & Gas (USA) Inc., a wholly owned subsidiary of EnCana Corp., for an undisclosed amount.

January 10, 2007

Atmos Energy Buys Gas Contracts from Virginia Marketer

Highland Energy, a wholly owned competitive market subsidiary of RGC Resources, Inc., based in Roanoke, VA, says it has entered into an agreement to sell gas supply contracts along with related business records to Atmos Energy Marketing LLC for $414,270.

July 14, 2006

High-Flying MDU Buying Cascade Natural, Diversifying LDC Base

MDU Resources Group Inc. has agreed to acquire Cascade Natural Gas Corp. for $26.50/share cash, about $475 million. The combination will double the number of MDU’s gas utility customers with the addition of Cascade’s Washington and Oregon ratepayers.

July 11, 2006

TransCanada Files Rate Case with FERC Over Lagging Revenues at Subsidiary

TransCanada Corp. said Friday that “changes in the competitive landscape” have resulted in significantly lower revenues for Gas Transmission Northwest Corp. (GTN), its wholly-owned interstate pipeline that serves markets in the U.S. Pacific Northwest and California. As a result, TransCanada has filed a rate case with the Federal Energy Regulatory Commission (FERC).

July 5, 2006

Apollo Resources Lands LNG Marketer, Transporter Acquisition

Dallas-based Apollo Resources International Inc. and its wholly owned subsidiary Apollo LNG said Thursday that they have completed their acquisition of Applied LNG Technologies USA LLC (ALT), a provider of liquefied natural gas (LNG) made locally to transportation, industrial and municipal markets in the western United States and portions of Mexico.

December 16, 2005

Cheniere Gets Green Light to Begin Construction on Sabine Pass LNG Terminal

Cheniere Energy said Thursday that FERC has given its wholly-owned limited partnership, Sabine Pass LNG LP (Sabine), clearance to begin construction on what will be the largest liquefied natural gas (LNG) import terminal in North America when it begins commercial operations in 2008.

November 14, 2005

Industry Briefs

OGE Energy Corp.’s Enogex subsidiary completed the sale of Enogex Arkansas Pipeline Co. (EAPC) to Atlas Pipeline Partners for $173 million subject to adjustments. EAPC was the wholly owned subsidiary of Enogex that held a 75% stake in the NOARK pipeline system. The transaction was first announced in September. Atlas now holds all the interests of EAPC. Enogex will use $32 million of the proceeds to repay debt associated with NOARK. The balance is expected to be used to pay down short term debt and to purchase strategic assets to diversify Enogex’s asset base, OGE said. The transaction is expected to provide an after-tax gain of slightly more than $50 million for Enogex. NOARK owns the 565-mile Ozark Gas Transmission (OGT) system, which extends from southeastern Oklahoma through Arkansas to southeastern Missouri. It also includes a 365-mile intrastate gas-gathering system known as Ozark Gas Gathering, located in eastern Oklahoma and western Arkansas. OGT has throughput capacity of 322,000 Dth/d and currently transports 202,200 Dth/d. The gathering system has about 400 receipt points and currently gathers about 36 MMcf/d. Atlas said the purchase will be immediately accretive to distributable cash flow.

November 1, 2005

Pogo Producing Completes $1.7B Northrock Resources Acquisition

Pogo Producing Co. said Tuesday it has closed the previously announced acquisition of Northrock Resources Ltd., a wholly owned Canadian subsidiary of Unocal Corp., for approximately U.S. $1.7 billion in cash. The deal was first announced on July 11 (see Daily GPI, July 12).

September 28, 2005

Cheniere Seeks New Funding for LNG Projects

Cheniere Energy, Inc. announced late Friday that its indirect, wholly owned subsidiary, Cheniere LNG Holdings, LLC has engaged Credit Suisse to arrange a proposed $500 million Senior Secured Term Loan Facility. Holdings owns Cheniere’s 100% equity interest in Sabine Pass LNG, LP. and Cheniere’s 30% limited partner equity interest in Freeport LNG Development, LP., each of which owns an LNG receiving terminal project that is currently under construction.

August 22, 2005

El Paso to Buy Denver Producer for $814M in Cash

Energy giant El Paso Corp. said Tuesday that it is acquiring Denver-based Medicine Bow Energy Corp. for $814 million in cash through its wholly-owned subsidiary, El Paso Holding Co.

July 20, 2005