(Reuters) - The main properties being acquired are located in the Permian Basin in Texas, the Black Warrior Basin in Alabama and the Antrim Shale in Michigan, with estimated reserves of about 2.5 trillion cubic feet of gas. The price equates to about $1.61 per thousand cubic feet, Loews said.
New York-based Loews, the majority owner of natural gas pipeline operator Boardwalk Pipeline Partners LP , plans to set up a new company for the acquired assets. It said it will also retain existing management, led by Timothy Parker, a Dominion senior vice president of exploration and production.
Read more at Reuters.com Business News
New York-based Loews, the majority owner of natural gas pipeline operator Boardwalk Pipeline Partners LP , plans to set up a new company for the acquired assets. It said it will also retain existing management, led by Timothy Parker, a Dominion senior vice president of exploration and production.
Read more at Reuters.com Business News
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