El Paso Company News
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E&Y: 2012 'Record Year' for O&G Deals
Thursday, January 24, 2013The oil and gas sector has remained one of the most active global sectors for mergers and acquisitions, according to Ernst & Young's Global oil and gas transactions review.
FTC Approves Kinder Morgan Acquisition of El Paso
Tuesday, May 01, 2012Kinder Morgan says it has received approval for its pending acquisition of El Paso Corporation from the Federal Trade Commission subject to the previously announced divestiture of certain Kinder Morgan Energy Partners, L.P. assets.
Sources: KNOC A Partner in El Paso E&P Acquisition
Monday, March 19, 2012The Korea National Oil Corporation is a part of the group that has agreed to pay $7.15B for El Paso Corp.'s E&P business, according to people familiar with the matter.
El Paso Shareholders OK Kinder Morgan Merger
Friday, March 09, 2012El Paso Corporation announced that its shareholders approved the merger with Kinder Morgan, Inc.
El Paso 4Q Net More Than Doubles
Monday, February 27, 2012El Paso Corp.'s 4Q earnings more than doubled as revenue jumped by a quarter, while the natural-gas and oil producer's El Paso Pipeline Partners LP saw its earnings rise 24%.
El Paso to Sell E&P Sector for $7.15B
Friday, February 24, 2012El Paso has entered into a definitive agreement to sell its E&P business, EP Energy Corporation, for approximately $7.15B to affiliates of Apollo Global Management and Riverstone Holdings, who are joined by Access Industries, Inc. and other parties.
El Paso Swings to Loss in 3Q11
Wednesday, November 02, 2011For the third quarter 2011, El Paso reported a net loss attributable to EPC common stockholders of $368 million.
Expert: Capital Available for O&G Mergers, Acquisitions
Monday, October 31, 2011Energy industry experts say capital funding for merger and acquisitions of unconventional hydrocarbon assets is readily available to O&G companies.
Kinder Morgan Buys El Paso in $38B Deal
Monday, October 17, 2011KMI will acquire all of the outstanding shares of EP in a transaction that will create the largest midstream and the fourth largest energy company in N. America with an enterprise value of approx. $94B and 80,000 miles of pipelines.
El Paso Names E&P Spinoff
Thursday, August 11, 2011El Paso Corporation announced that it has taken important steps related to the planned spinoff of its E&P business before year-end 2011.
El Paso Closes Revolving Credit Facilities
Friday, June 03, 2011El Paso has amended and restated its revolving credit facility and renewed the El Paso Exploration & Production Company (EPEP) revolving credit facility.
El Paso to Spin-Off into Two Companies
Tuesday, May 24, 2011El Paso Corp. announced that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011.
El Paso Corp. Highlights 3Q Results
Wednesday, November 03, 2010"Each quarter's progress brings us closer to our long term goals. Both of our businesses continue to create value in the face of a challenging economic climate," said Doug Foshee.
Aminex Updates Frac-Treatment Program at Shoats Creek
Monday, October 04, 2010Aminex provided an update on the frac-treatment being performed by El Paso E&P at its Shoats Creek exploration program.
El Paso Corp. Scoops Up Blocks in Wolfcamp Shale Play
Thursday, September 23, 2010El Paso Corp. acquired leases targeting the Wolfcamp shale and adding to approximately 12,000 net acres of existing leasehold in this play.
El Paso Profit Soars 76% in 2Q10
Wednesday, August 04, 2010"I am very pleased with our second quarter earnings as well as the execution by both businesses and our finance organization. Our E&P business continues to deliver excellent results and remains focused on managing for returns" said Doug Foshee.
El Paso Declares Quarterly Dividend
Wednesday, July 21, 2010El Paso declared a quarterly dividend of $0.01 per share on the company's outstanding common stock.
El Paso Pipeline Increases Quarterly Cash Distribution
Tuesday, July 20, 2010El Paso Pipeline announced that the Board of Directors of its general partner has declared a $0.40 per unit quarterly cash distribution for the second quarter of 2010.
Aminex, El Paso Jointly Explore Wilcox Formation
Friday, July 16, 2010Aminex has entered into an Area of Mutual Interest Agreement and a JOA with El Paso E&P covering 960 acres, to explore the potential of the deep Wilcox formation.
El Paso E&P Completes Eagle Ford Well Tests
Tuesday, June 22, 2010El Paso E&P has completed three additional successful Eagle Ford well tests, has increased its lease position, and will continue to execute on its Eagle Ford program activities throughout the year.
El Paso Pipeline Prices $110MM Debt Offering
Monday, June 21, 2010El Paso Pipeline Partners has priced $110 million of its 6.50 percent senior notes.
El Paso Pipeline Prices Common Units
Friday, June 18, 2010El Paso Pipeline Partners has priced a public offering of 10,000,000 common units at $28.80 per common unit.
El Paso Pipeline to Acquire Additional Interest in SNG
Thursday, June 17, 2010El Paso Pipeline has agreed to acquire an additional 16 percent interest in Southern Natural Gas Company (SNG) from El Paso Corporation.
El Paso Demonstrates Substantial Progress in 1Q
Thursday, May 06, 2010"Our first quarter results demonstrate substantial progress towards our 2010 goals and highlight our focused execution," said Doug Foshee.
El Paso Gets Go-Ahead for Ruby Pipeline
Tuesday, April 06, 2010El Paso has received Federal Energy Regulatory Commission approval for its Ruby Pipeline project.
El Paso Pipeline Prices Senior Notes at $425MM
Friday, March 26, 2010El Paso Pipeline Partners Operating Company has priced $425 million of its 6.50 percent senior notes due 2020.
El Paso Picks Up Majority Stakes in LNG Assets
Thursday, March 25, 2010El Paso Pipeline Partners has agreed to acquire a 51% interest in both Southern LNG Company, L.L.C. and El Paso Elba Express Company, L.L.C. from El Paso Corporation for $810 million.
El Paso Pipeline to Issue $425MM of Senior Notes
Thursday, March 25, 2010El Paso Pipeline plans to issue $425 million of senior notes due 2020.
El Paso's Test Rates Soar at Second Eagle Ford Well
Monday, March 22, 2010El Paso's second Eagle Ford well tested at a flow rate and liquids content at the high end of the company's expectations.
El Paso's Senior VPs Move Up Executive Ladder
Tuesday, March 16, 2010El Paso promoted the current Senior VP and Chief Administrative Officer, along with the Chief Financial Officer, to Executive Vice President.
El Paso's Elba Express Gas Pipeline Now in Service
Tuesday, March 02, 2010El Paso subsidiaries Southern LNG and Elba Express Company have placed in service two significant projects representing $900 million of capital investment in critical new natural gas infrastructure.
El Paso Pipeline Partners Cites Solid Cash Flow Exiting 2009
Monday, March 01, 2010El Paso Pipeline Partners has reported its fourth quarter and full-year 2009 financial and operational results for the partnership.
El Paso Touts 2009 Operational, Financial Performance
Monday, March 01, 2010"Our fourth quarter results reflect a strong finish to an exceptional 2009 performance for team El Paso," said Doug Foshee, chairman, president, and chief executive officer of El Paso Corporation.
El Paso to Sell Mexican Pipeline Assets
Wednesday, February 24, 2010El Paso has entered into an agreement to sell its interest in Mexican pipeline and compression assets to Sempra Pipelines & Storage, a unit of Sempra Energy, for $300 million.
El Paso Declares Quarterly Dividend
Wednesday, February 24, 2010The board of directors of El Paso Corporation declared today a quarterly dividend of $0.01 per share on the company's outstanding common stock.
El Paso Enters Pipeline Pacts with Chesapeake, Statoil
Tuesday, February 16, 2010El Paso entered into agreements with Marcellus Shale gas producers in Pennsylvania for all the capacity of a $400 million pipeline project.
El Paso: 44% Increase in Risked Unproved Resources
Tuesday, February 02, 2010El Paso reported that as of December 31, 2009, it had 5.1 trillion cubic feet equivalent of estimated total risked unproved resources, or 8.9 Tcfe unrisked, in addition to its 2.75 Tcfe of proved natural gas and oil reserves.
El Paso Pipeline Partners Increases Cash Distribution
Friday, January 22, 2010El Paso Pipeline Partners announced that the Board of Directors of its general partner has declared a quarterly cash distribution of $0.36 per unit for the fourth quarter of 2009.
El Paso: Option to Purchase Additional Units Exercised
Thursday, January 21, 2010The underwriters of El Paso Pipeline Partners' common unit offering exercised their option to purchase 1,112,500 additional common units at a public offering price of $24.48 per unit.
El Paso's Proved Reserves Top 2.75 Tcfe
Wednesday, January 20, 2010El Paso's proved natural gas and oil reserves at December 31, 2009 totaled 2.75 Tcfe, including 201 Bcfe related to its 48.8% interest in Four Star.
El Paso Pipeline Partners Prices Public Offering
Wednesday, January 13, 2010El Paso Pipeline Partners has priced a public offering of 8,750,000 common units at $24.48 per common unit.
El Paso Closes Acquisition of 70 Bcfe Proved Oil Reserves
Tuesday, January 12, 2010El Paso announced that its liquidity at December 31, 2009 was approximately $1.8 billion after closing substantially all of a $103.5 million acquisition of producing oil properties.
El Paso Pipeline Targets 2010 Cash Flow Up to $250MM
Thursday, December 10, 2009El Paso Pipeline Partners has announced its financial and operational outlook for 2010.
El Paso Earmarks $1.1B for 2010 E&P Budget
Thursday, December 10, 2009El Paso Exploration & Production expects to spend approximately $1.1 billion in 2010, with $0.9 billion allocated to domestic programs.
El Paso Taps MSI for Buried Array Program in Haynesville Shale
Tuesday, November 17, 2009MicroSeismic has been awarded a contract for a Buried Array microseismic monitoring program in the Haynesville Shale by the El Paso Corporation.
El Paso Shuffles Executive Committee
Tuesday, October 20, 2009El Paso has announced a realignment of the company's executive committee.
El Paso Corp. Issues Quarterly Dividend
Friday, August 21, 2009The board of directors of El Paso Corporation declared a quarterly dividend of $0.05 per share on the company's outstanding common stock.
Hedges Pay Off for Natural-Gas Producers
Wednesday, August 12, 2009Producers are relying more than ever on the futures markets to hedge the risk that prices will fall, even as regulators take aim at energy traders in an effort to blunt the sort of spikes that hit consumers last year.
El Paso Secures Partner for Ruby Pipeline Project
Monday, July 27, 2009El Paso Corporation has executed a binding agreement with Global Infrastructure Partners whereby GIP will acquire a 50% interest in the Ruby Pipeline project.
Petrobras Fires Up Gas Output at Offshore Cangoa, Camarupim Fields
Monday, June 15, 2009Petrobras has started natural gas production at two offshore fields to help boost natural gas output from Brazilian reserves.