(Bloomberg) -- Loew's Corp., the holding company
owned by New York's Tisch family, and XTO Energy Inc. agreed to
buy most of Dominion Resources Inc.'s onshore oil and gas
exploration business for about $6.5 billion.
The sale includes reserves equal to about 3.5 trillion
cubic feet of gas, Richmond, Virginia-based Dominion said in a
statement. Dominion, the second-largest U.S. utility owner, put
the exploration business up for sale in November to raise cash
for debt reduction and share buybacks.
Read more at Bloomberg Energy News
owned by New York's Tisch family, and XTO Energy Inc. agreed to
buy most of Dominion Resources Inc.'s onshore oil and gas
exploration business for about $6.5 billion.
The sale includes reserves equal to about 3.5 trillion
cubic feet of gas, Richmond, Virginia-based Dominion said in a
statement. Dominion, the second-largest U.S. utility owner, put
the exploration business up for sale in November to raise cash
for debt reduction and share buybacks.
Read more at Bloomberg Energy News
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