Welcome to the U.S. Energy Information Administration overview of aspects of the acquisition of Louis Dreyfus Natural Gas Corp. by Dominion Resources Corporation, which was announced September 10, 2001. Dominion Resources reportedly will pay $1.8 billion in cash and stock plus assume approximately $0.5 billion of debt. This transaction increases Dominion's U.S. natural gas production capacity by 86 percent and Dominion's liquids production capacity by 65 percent (based on proved reserves as of December 31, 2000). For further information please call the National Energy Information Center at (202) 586-8800.

Aspects of the Proposed Acquisition of Louis Dreyfus Natural Gas by Dominion Resources, September 10, 2001

Background

On September 10, 2001, Dominion Resources announced it had agreed to buy Louis Dreyfus Natural Gas for $1.8 billion in cash and stock plus assuming $505 million in Louis Dreyfus debt.   Dominion is an integrated gas and electric holding company.   Its activities include electricity generation, transmission, and distribution; oil and gas exploration and production, and gas transmission, storage, and distribution; commodity trading, marketing, and risk management; and telecommunications and advanced data services.   It has operations in the Northeast, Middle Atlantic, and Midwest areas of the United States.   Louis Dreyfus is an independent natural gas company engaged in the acquisition, development, exploration, production, and marketing of natural gas and crude oil.   It has operations in Texas, New Mexico, Oklahoma, Kansas, Arkansas, Louisiana, and the Gulf of Mexico.

The following link provides company-level data from various public sources to inform discussions of the Dominion-Louis Dreyfus merger.   This data presentation is similar to data presentations that have been previously requested from EIA for other significant energy company mergers and/or corporate alliances.

U.S. Oil and Gas Production

Financial Analysis Team, Office of Energy Markets and End Use, Energy Information Administration, September 18, 2001

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Larry Spancake
larry.spancake@eia.doe.gov
Fax: (202) 586-9753

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National Energy Information Center
Phone: (202) 586-8800

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