El Paso, Sonat ink $6 billion merger deal

03/22/1999
El Paso-Sonat Combined Assets [166,419 bytes] El Paso Energy Corp., Houston, and Sonat Inc., Birmingham, Ala., have signed a definitive merger agreement, creating a U.S. natural gas powerhouse with a total enterprise value of more than $14 billion. The proposed deal is valued at an estimated $6 billion, including the assumption of $2 billion in Sonat debt. It involves a 1-for-1 stock swap and will be accounted for on a pooling-of-interests basis. It is expected to close in the third or fourth quarter of this year. If approved, the transaction will create a firm with a broad range of assets in interstate and intrastate gas transmission, gas gathering an...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected