CMS ENERGY SELLS OIL AND GAS SUBSIDIARY TO PERENCO S.A. FOR ABOUT $232 MILLION

Abstract

From 1991 through 2001, Perenco's biggest growth came in Gabon, where it bought interests from Elf Aquitaine S.A., Royal Dutch/ Shell (NYSE: RD and SC), Amoco Corp., B.G. Group Plc. (NYSE: BRG), Wintershall S.A. and Preussag S.A.; in Venezuela, where it bought stakes from B.P. Plc. (NYSE: BP) and Phillips Petroleum Co. (NYSE: P); and in Guatemala, where it bought interests from Anadarko Petroleum Corp. (NYSE: APC). It also has developed a substantial position in Colombia, with purchases from Elf and, earlier this year, Burlington Resources Inc. (NYSE: BR), in Cameroon, with an acquisition from Total S.A.; in Turkey, with an acquisition from Shell, and in Congo, with acquisitions from Shell, Elf and Total.