• GRI and the Institute of Gas Technology have merged, forming Gas Technology Institute. GTI will continue to manage a cooperative R&D program through 2004, using funds authorized by the Federal Energy Regulatory Commission. • ATP Oil & Gas Corp., Houston, is a finalist in the Innovators in the International Revolution category of the Inc./Cisco "Growing with Technology" awards. Privately held ATP has implemented a variety of communications and networking technologies to improve its business, such as completion of the world's longest hydraulically controlled umbilical package. The awards program recognizes small and medium-size businesses that are using the Internet and technology to succeed. • Alberta Energy Co. Ltd., Calgary, will buy certain Ranger Oil Ltd. gas assets from Petrobank Energy & Resources Ltd. upon Petrobank's acquisition of 66.67% of Ranger shares and due diligence information being made available to AEC. Petrobank is offering C$575 million for Ranger. AEC has agreed to pay C$262 million cash for the Ranger assets and related infrastructure, which Petrobank says is less than 10% of daily Ranger production. However, Ranger has accepted Canadian Natural Resources Ltd.'s C$650-million (C$8.25-per-share) offer to purchase the company. Ranger has closed its dataroom and concluded its review of financial alternatives. Financial advisors RBC Dominion Securities and Credit Suisse First Boston have opined that the Canadian Natural offer is fair. • Southwestern Energy Co., Fayetteville, Ark., will sell its utility business to pay a $109-million court judgment. It has also suspended its quarterly dividend. "This unfavorable ruling requires us to take difficult steps to ensure the long-term success of the company," said Southwestern president and chief executive Harold Korell. The sale will result in Southwestern focusing on its E&P business. • Apache Corp., Houston, has purchased producing properties in the Permian Basin and South Texas for more than $300 million from Collins & Ware Inc. Proved reserves total 502 billion cu. ft. of gas equivalent, of which one-third are liquid hydrocarbons. Probable reserves are estimated at 151 billion cu. ft. equivalent. Current net production is 40 million cu. ft. of gas and 4,000 bbl. of liquid hydrocarbons per day. • PrimeWest Energy Trust, Calgary, is buying Reserve Royalty Corp., Calgary, for approximately C$79 million, consisting of C$54 million in equity and approximately C$25 million in assumed net debt. The equity portion of the offer is 0.065 PrimeWest trust unit per Reserve Royalty share-a 38.6% premium to Reserve Royalty's preannouncement closing price. Scotia Capital Inc. was financial advisor to PrimeWest. • Penn Virginia Corp., Radnor, Penn., has purchased oil and gas mineral rights on approximately 475,000 acres in West Virginia, Virginia and Kentucky for $35.7 million. Estimated proved reserves net to the company's interests are 35 billion cu. ft. of gas equivalent. Annual royalty production is expected to be approximately 2.5 billion cu. ft. equivalent. • NAL Oil & Gas Trust, Calgary, is buying Draig Energy Ltd. for 0.2375 NAL trust unit per common share of Draig, for a total value of approximately C$51.8 million, including the assumption of C$26.5 million of net debt. Draig's assets are in an area east of Red Deer, Alberta. The three key areas are Brent, Hanna and Provost. The reserves are 94% gas. The majority of Draig's wells and facilities are operated, with an average working interest of approximately 84%. Current daily production is 15 million cu. ft. of gas and 200 bbl. of oil and NGL. Daily production for NAL will increase 30%. Goepel McDermid Inc. was financial advisor to NAL. Griffiths McBurney & Partners was financial advisor to Draig and provided a fairness opinion. • Tartan Energy Inc., Calgary, is buying the remaining working interest in the Lost Hills Field, from R&R Resources LLC, a private California-based company, for up to 28 million shares and a US$900,000 convertible deferred note. The assets are complementary to those assets held by Albatross Oil & Gas Co. Inc., which Tartan is acquiring, also for stock. Albatross holds a 45% working interest, with net revenue interests averaging 35.3%, in 850 acres of shallow oil and gas leases in the Lost Hills Field in the San Joaquin Basin, Kern County, Calif. In all, Tartan will acquire a 55% interest. • Tom Brown Inc., Denver, has acquired an additional working interest in the Pavillion Field in the Wind River Basin in Wyoming from an undisclosed seller for $16.2 million, increasing its average working interest to 90%. The acquired interests include an estimated 22 billion cu. ft. of gas equivalent, with current net daily production of approximately 8 million cu. ft. of gas equivalent. • Louis Dreyfus Gas Corp., Oklahoma City, has purchased Costilla Energy Inc.'s oil and gas assets, for $133 million.