The Exploration Co., San Antonio, Tex., has exercised an option to purchase a 5-year oil and gas lease on the shallow rights above the base of the San Miguel formation on 157,000 acres of the Chittim Ranch acreage in Maverick County, Tex. The company said the acquisition makes it the largest holder of coalbed methane acreage in Texas.
Williams has priced a public offering of 33 million shares at $36.125/share. Previously, Williams expected to offer 30 million shares.
Bargo Energy Co., Houston, has closed the previously announced sale of its properties in Kern County, Calif., to an undisclosed buyer. The effective date of the sale is Dec. 1, 2000.
OM Gruppen, a Swedish stock exchange operator, will buy the rest of the Canadian Natural Gas Exchange (NGX) from Westcoast Energy Inc., Vancouver, BC. It bought 51% a year ago. Price was not disclosed. NGX, Calgary, provides electronic trading and clearing services for natural gas buyers and sellers in Alberta.