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News in brief El Paso sells interest in Indonesian firm Allen Baker
El Paso Corp. has closed the sale of its stake in an Indonesian production company for $23.2 million, plus working capital.
The shares in Coastal Indonesia Sampang Ltd. were sold by El Paso subsidiary El Paso Production Co. and bought by Singapore Petroleum Co. Ltd.
Coastal Indonesia Sampang has a 40 percent working interest in the Sampang production sharing contract, which provides exploration rights in Indonesia.
Houston-based El Paso has been selling assets to cut its debt load, but ran into further trouble in February when it had to write down its reserves by 1.8 trillion cubic feet of gas equivalent. Wind Dancer field gets BLM go-ahead The Bureau of Land Management has reached a decision that the Wind Dancer gas field near Wamsutter, Wyo., will have no significant impact on the environment. The document came out July 28.
Two smaller independents, Cabot Oil and Gas Corp. and GMT Energy Corp., want to explore and develop 6,400 acres in northcentral Sweetwater County. The project is expected to involve up to a dozen natural gas wells, along with roads, pipelines and production facilities.
The BLM released its Environmental Assessment on the project for public review in June. Its Decision Record, which includes public comments on the assessment, is posted on the Rawlins BLM website at: http://www.wy.blm.gov/nepa/rfodocs/winddancer/index.htm.
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