Hadson Petroleum Buys 4 Firms for $45 Million / Will Open California Natural Gas Market

By L. D. Barney | THE JOURNAL RECORD, February 7, 1986 | Go to article overview

Hadson Petroleum Buys 4 Firms for $45 Million / Will Open California Natural Gas Market


L. D. Barney, THE JOURNAL RECORD


subsidiary companies of Omaha-based HNG/Internorth Inc. by Hadson Pet roleum Corp. of Oklahoma City was announced Thursday.

The purchase includes a 594-mile intrastate southeastern New Mexico pipeline system. It will allow Hadson to sell natural gas into the California market, the largest natural gas market in the nation, said Stephen Houghton, president of Hadson.

The New Mexico pipeline system currently sells about 50 million cubic feet of gas per day to California.

Hadson agreed with Houston Natural Gas Corp., a wholly-owned subsidiary of HNG/Internorth, to purchase all the common stock of four other subsidiaries, called the Llano Group, for "in excess of $40 million," said Houghton.

HNG/Internorth said the sale proceeds will be about $45 million.

"We are pleased about the prospects of having the Llano Group of companies and their employees become a part of Hadson," said Houghton. "This acquisition will be of significant strategic importanceto Hadson and its future business plans for entering the California gas market.

"We felt that Llano is uniquely situated to serve the southern California market more competitively than the Canadians, because it is nearer."

The four Llano Group subsidiaries have combined revenues of more than $70 million a year, said Houghton. They include:

- Llano Inc.

- Llano CO2 Inc.

- Minerals Inc.

- Nmesco Fuels.

Llano Inc. owns and operates the New Mexico pipeline system, which has a capacity of carrying 140 million cubic feet per day of natural gas.

The systems sells natural gas into the California market through interconnects with lines operated by El Paso Natural Gas Co. and Transwestern Pipeline Co., Houghton said. The Llano system also connects with Northern Natural Gas Co. and United Gas Pipeline Co.

Total "throughput" of the New Mexico line is about 80 million cubic feet a day at the present time, he said.

Through its subsidiary, Hadson Gas Systems Inc., Hadson Petroleum Corp. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Hadson Petroleum Buys 4 Firms for $45 Million / Will Open California Natural Gas Market
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.