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Dominion to sell gas assets to Loews, XTO for $6.5 bln

Mon Jun 4, 2007 7:21am EDT

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June 4 (Reuters) - Energy and power producer Dominion Resources Inc. (D.N) said it will sell most of its U.S. onshore oil exploration and production operations to Loews Corp. LTR.N and XTO Energy Inc. (XTO.N) for about $6.5 billion.

Mergers & Acquisitions

These operations include 3.51 trillion cubic feet equivalent of proved natural gas and oil reserves as of Dec. 31, 2006, the company said in a statement.

Dominion said it sees operating earnings of $6 or more a share in 2008. (Reporting by Deepti Chaudhary in Bangalore)

Mergers & Acquisitions


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