Total Sells Interest in Cardinal Gas Services | Russell T. Rudy Energy LLC
“Rigzone” reports that French oil major, Total, will sell its 25% stake in Cardinal Gas Services, a pipeline transporting Utica shale gas in Ohio. A consortium of South Korean entities will pay $450 million for the interest, and Cardinal will continue to provide gas gathering and transportation services to Total.
The French company will retain its interest in upstream operations in the Utica play with its partners Chesapeake and EnerVest, as well as its joint venture with Chesapeake in the Barnett Shale in North Texas.
However, Total has indicated that it plans to divest itself of $10 billion of assets over the next two years.
To read the article in its entirety, please go to www.rigzone.com/news/article_pf.asp?a_id=135140 .
September 30, 2014 | midstream/transportation, Oil and Gas, oil and gas royalties, shale/unconventional
