PEC Minerals LP plans to acquire Sempra Energy Production Co., the E&P subsidiary of Sempra Generation, a unit of Sempra Energy, San Diego, (NYSE: SRE) for approximately $225 million in cash. Sempra Energy Production's assets include mineral rights in more than 570,000 net acres and executive rights to more than 190,000 net acres in 31 states. In addition to holding nonoperated working interests in wells, the company also owns 6,000 surface acres in five states. Sempra Energy expects to record an after-tax gain of approximately $110 million on the sale as part of discontinued operations. Petrie Parkman & Co. was financial advisor to Sempra Energy. The transaction is expected to close next month. PEC Minerals is owned by Jetta Operating Co., Houston, Trevor Rees-Jones and Providence Energy Corp., Providence, R.I. (NYSE: PVY).
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