Questar Corp., the Salt Lake City- based utility owner, surged as much as 15 percent after saying yesterday it may spin off an oil- and natural-gas production business that accounted for more than 34 percent of net income last year.
Enbridge Inc.’s plan for a pipeline to carry oil-sands crude from Canada to the Texas Coast may gain a competitive advantage from the U.S. State Department’s demand for further study of TransCanada Corp.’s rival Keystone XL line.
A group led by Apollo Global Management LLC agreed to acquire El Paso Corp.’s oil and natural gas exploration business for $7.15 billion in the second-biggest private equity takeover of an energy producer.
TransCanada Corp., the Canadian company that proposed to build the $7.6 billion Keystone XL oil pipeline, said second-quarter profit declined 22 percent as it transported less natural gas and power asset earnings fell.
Enbridge Inc.’s plans to expand U.S. pipeline capacity may help generate as much as $15 billion for Canadian oil-sands producers such as Suncor Energy Inc. and boost government tax revenue as Alberta crude begins to command a higher price.