Wrapping

Wrapping up the $38 billion acquisition that has been called a “once in a lifetime transaction,” Kinder Morgan Inc. (KMI) on Thursday completed its acquisition of El Paso Corp., creating the largest midstream and the fourth largest energy company in North America, owning an interest in or operating approximately 75,000 miles of pipelines and 180 terminals with an enterprise value of more than $90 billion.

Wrapping up the $38 billion acquisition that has been called a “once in a lifetime transaction,” Kinder Morgan on Thursday completed its acquisition of El Paso Corp., creating the largest midstream and the fourth largest energy company in North America, owning an interest in or operating approximately 75,000 miles of pipelines and 180 terminals with an enterprise value of more than $90 billion.

Wrapping up the $38 billion acquisition that has been called a “once in a lifetime transaction,” Kinder Morgan on Thursday completed its acquisition of El Paso Corp., creating the largest midstream and the fourth largest energy company in North America, owning an interest in or operating approximately 75,000 miles of pipelines and 180 terminals with an enterprise value of more than $90 billion.

Emergency responders were wrapping up their work Thursday afternoon at the site of a reported explosion at a drilling rig in the Eagle Ford Shale in Falls City in Karnes County, TX. According to press reports, two people had been hospitalized. The explosion reportedly occurred just before noon. The Karnes County sheriff was not available for comment, but a deputy said at 2:30 CDT that crews were preparing to leave the scene. The rig was reported to be targeting oil; the name of its owner/operator was not available at press time. Texas Department of Public Safety spokesman Jason Reyes told the San Antonio Express-News that a truck driver who was transferring oil was injured when a truck was set on fire and ignited the explosion. The driver received second- and third-degree burns, he said. In a separate incident Monday night an explosion and fire occurred at a Continental Resources natural gas well in Oklahoma; there were no injuries (see Daily GPI, Sept. 21).

Wrapping up a busy Tuesday of transactions with an overarching theme of cooperation on different continents, an ExxonMobil Corp. subsidiary has entered a farm-out agreement with a subsidiary of Canada-based Americas Petrogas for the exploration and potential exploitation of shale in Americas Petrogas’s Los Toldos blocks (163,500 gross acres) located in Neuquen, Argentina.

Wrapping up a wild week of price swings, November natural gas futures on Friday pushed lower as the potential storm threats in the Gulf of Mexico and the Atlantic continued to show no interest in strengthening. The prompt month traded between $7.060 and $7.320 before closing out the week at $7.073, down 33.9 cents on the day but 20.3 cents higher than the previous Friday’s close.

Wrapping up the pleasantly weak 2006 Atlantic hurricane season, which officially came to an end last Thursday, forecasters at the National Oceanic and Atmospheric Administration (NOAA) said the seasonal activity was lower than everyone expected due to the rapid development of El Nino — a periodic warming of the ocean waters in the central and eastern equatorial Pacific, which influences pressure and wind patterns across the tropical Atlantic.

Wrapping up the pleasantly weak 2006 Atlantic hurricane season, which officially came to an end Thursday, forecaster at the National Oceanic and Atmospheric Administration (NOAA) said the seasonal activity was lower than everyone expected due to the rapid development of El Nino — a periodic warming of the ocean waters in the central and eastern equatorial Pacific, which influences pressure and wind patterns across the tropical Atlantic.

Wrapping up its previously announced acquisition, Oklahoma City-based Chesapeake Energy Corp. said it has completed the purchase of Mid-Continent gas assets from a wholly-owned subsidiary of Tulsa-based Oneok, Inc. for $300 million.