Welcome to GasNewsOnline.com!  We always review the country’s largest interstate natural gas pipeline companies for their most recent critical postings and bring you information about changes in gas pipeline operating conditions. 

Plus, we will update you on the latest publicly released news from major energy companies and provide the extended temperature forecast for the next few weeks from the National Weather Service, too.  

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From the US Energy Information Administration, working natural gas in storage increased by 92 Bcf for the period ending Friday, April 19.   Natural gas volumes in storage are 369 Bcf or 22% below the five-year average for the same week. 

On the New York Mercantile Exchange, the May, 2019 natural gas futures price climbed nearly five cents on Thursday to close at nearly $2.51/MMBtu.

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Will there be a bidding war for Anadarko Petroleum?   After last week’s bid by Chevron to acquire Anadarko, Occidental Petroleum Corporation submitted a competing bid for the company on Tuesday.

Occidental

delivered a letter to the Anadarko Board of Directors setting forth the terms

of a superior proposal by Oxy to acquire Anadarko for $76.00 per share, in

which Anadarko shareholders would receive $38.00 in cash and 0.6094 shares of

Occidental common stock for each share of Anadarko common stock. The Occidental

proposal represents a premium of approximately 20% to the value of Anadarko’s

pending transaction from Chevron.

Occidental

believes its proposal is superior both financially and strategically for

Anadarko’s shareholders, creating a global energy leader with the scale and

geographic diversification to drive growth and deliver compelling value and

returns to the shareholders of both companies. The combined company will be

uniquely positioned to leverage Occidental’s demonstrated operational and technical

expertise, producing greater anticipated synergies than Anadarko’s pending

transaction. The 50-50

cash and stock transaction is valued at $57 billion, based on Occidental’s

closing price on April 23, 2019, including the assumption of net debt and book

value of non-controlling interest.

“Occidental

is a leader in using technological innovation to create value, and we will

deploy our expertise to enhance the performance and productivity of Anadarko’s

assets not only in the Permian, but globally,” said Vicki Hollub, Oxy’s President and Chief Executive

Officer said, “Occidental and Anadarko have a highly complementary asset

portfolio, providing us with a unique opportunity to realize significant

operating, cost, and capital allocation synergies and achieve near-term cash

flow accretion.”

Vicki Hollub continued, “We have been focused on Anadarko for several years because we have long believed that we are ideally positioned to generate compelling value from a combination with them. We look forward to engaging immediately with Anadarko’s Board and stakeholders to deliver this superior transaction.”

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Murphy Oil Corporation announced Tuesday that its wholly owned subsidiary, Murphy Exploration & Production Company – USA (“Murphy”), has entered into a definitive agreement to acquire deep water Gulf of Mexico assets from L...