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PAA secures private placement of $350M

Oil & Gas Financial Journal

Subsea 7 awarded Sul Capixaba Pipeline contract

Subsea 7 Inc. has been awarded a $200 million contract by Petrobras for an EPIC contract, in the Espirito Santo Basin offshore Brazil.

The contract will involve the design, engineering, procurement, fabrication and installation of the 78 km Sul Capixaba 12-in. Export Gas Pipeline and end termination assembly in the Jubarte field.

The gas export pipeline will eventually connect the FPSO P-57 in the deepwater Jubarte field to the Petrobras onshore installation in Anchieta, Espirito Santo.

Installation will take place during 2009 and will be completed during 2010.

Eagle Rock Energy Partners to acquire Stanolind

Eagle Rock Energy Partners LP has entered into a definitive stock purchase agreement to acquire 100% of the outstanding common stock of Stanolind Oil and Gas Corp. for $79 million.

Midland, Tex.-based Stanolind is a privately-held portfolio company of Natural Gas Partners. It operates crude oil and natural gas producing properties in the Permian Basin, primarily in Ward, Crane, and Pecos counties, Texas.