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Article: NORTHERN BORDER PARTNERS WILL BUY BEAR PAW ENERGY FOR $370 MILLION
- Article from:
- Hart's Petroleum Finance Week
- Article date:
- February 5, 2001
CopyrightCopyright Phillips Business Information, LLC Feb 5, 2001. Provided by ProQuest LLC. (Hide copyright information)
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Northern Border Partners L.P. (NYSE: NBP) agreed to buy Bear Paw Energy LLC from a consortium of investors led by Bear Paw Energy management and J.P. Morgan Partners (formerly Chase Capital Partners) for $370 million. Under the agreement, the Omaha natural gas pipeline partnership will pay $185 million of the purchase price in new common units and the remainder in cash and the assumption of liabilities. The companies plan to complete the purchase by the end of 2001's first quarter.
Bear Paw Energy has extensive gathering and processing operations in Wyoming's Powder River Basin and the ...