BG Group Completes Purchase of El Paso Canada Inc.


Published:

BG Group has completed the purchase of El Paso Oil and Gas Canada Inc. from El Paso Corporation for a cash consideration of US$ 345.6 million. The announcement that BG Group had agreed the purchase was made on 16 February 2004.

The assets held by the acquired company, which will now be called BG Canada Exploration and Production Inc. BG Canada, include 630,000 acres of net undeveloped oil and gas acreage, which BG believes hold considerable exploration potential.

The company also holds producing assets, concentrated in four core areas in Alberta and British Columbia.

Archive »Recent Articles

LNG Exports Would Raise NatGas Prices

The Energy Information Administration (EIA) says exports of liquefied natural gas (LNG) from the United States inevitably would increase natural gas prices for domestic consumers.

Lauber Named CEO At MAN Diesel & Turbo

Uwe Lauber has been named chairman of the executive board of MAN Diesel & Turbo.

Seabed Compressor Ready for Tests

Statoil said the world’s first subsea wet gas compressor station is ready for final testing before being installed next year at Gullfaks C field in the North Sea.

EIA Sees Ample U.S. Gas Inventories

The U.S. Energy Information Administration (EIA) has reported that privately-owned gas inventories will be 3532 Bcf (100 x 109 m3) on Oct. 31, lower than at this point a year ago but more than adequate for the coming winter.

USA Compression Fleet Up 24%

USA Compression Partners (USAC) has reported its fleet totaled1.4 million hp (1044 MW) on Sept. 30, up 24% from the third quarter of 2013.