Equitable Resources Acquires 30% Interest in South Coast Exploration Company
Equitable Resources, Inc. has expanded its presence in the energy industry by purchasing a 30 percent interest in South Coast Exploration Company, a private energy company specializing in 3-Dimensional seismic and computer-aided exploration techniques. This strategic investment, announced on October 23, is expected to enhance Equitable's capabilities in natural gas and oil exploration and production. The partnership will leverage South Coast's expertise in the southern Louisiana area, where Equitable's Louisiana Intrastate Gas Company operates.
Key Takeaways:
- Equitable Resources, Inc. has acquired a 30 percent interest in South Coast Exploration Company, a privately-owned energy company in Houston, Texas.
- South Coast Exploration is a leader in 3-Dimensional seismic and computer-aided exploration techniques for locating natural gas and oil.
- The investment is expected to combine South Coast's production activities with Equitable's infrastructure in the Gulf Coast region.
- The partnership has formed a limited partnership to enable Equitable to take working interest positions in South Coast-sponsored exploration projects.
- Equitable Resources is a full-service energy marketing company offering innovative products and services through its exploration, production, storage, transportation, and distribution of natural gas and electricity.
Statistics:
- 30 percent: The percentage of interest acquired by Equitable Resources in South Coast Exploration Company.
- Southern Louisiana: The primary area of operation for South Coast Exploration Company, where Equitable's Louisiana Intrastate Gas Company has facilities.
- 3-Dimensional seismic and computer-aided exploration techniques: The areas of specialization for South Coast Exploration Company.
Sources:
- PRNewswire, October 23 /PRNewswire/
- Equitable Resources, Inc. (NYSE: EQT)
- Louisiana Intrastate Gas Company (LIG)
- South Coast Exploration Company
- Equitable Resources, Inc., Press Releases