Tulsa World: Pickens increases holdings in natural gas producers

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Pickens increases holdings in natural gas producers

ENERGIZED
Pickens: The investor boosted stakes in natural gas producers.

By Staff and Wire Reports
Published: 11/17/2009 2:24 AM
Last Modified: 11/17/2009 8:30 AM

T. Boone Pickens, the billionaire energy investor, increased stakes in U.S. natural-gas producers and added companies such as McMoRan Exploration Co. and SandRidge Energy Inc. to his portfolio.

Pickens' BP Capital Management LP said its holdings now include at least 1 million shares each of SandRidge and McMoRan, according to a public filing. Pickens also reported stakes in Gastar Exploration Ltd., Hess Corp. and Weatherford International Ltd.

BP Capital increased stakes in such companies as Anadarko Petroleum Corp., Cabot Oil & Gas Corp., Chesapeake Energy Corp., Devon Energy Corp. and Forest Oil Corp. during the three-month period that ended Sept. 30, according to the filing. Anadarko, Chesapeake and Devon were among the top five producers of gas in the U.S. in the first half of this year, according to the Natural Gas Supply Association.

The value of Pickens' equity holdings climbed to $185.5 million as of Sept. 30, from $85.5 million on June 30, according to Monday's filing.

By Staff and Wire Reports

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