Tuesday, El Paso Corp. (EP) announced that its liquidity at December 31, 2009 was around $1.8 billion after closing substantially all of a $103.5 million acquisition of producing properties, primarily in the Altamont-Bluebell field, which is one of El Paso's core producing areas.
"We are entering the year with strong liquidity, and we are already making excellent progress towards our 2010 goals. We are particularly pleased with the latest acquisition of oil properties with around 70 billion cubic feet equivalent of proved oil reserves at an attractive price of $1.49 per thousand cubic feet equivalent. We will integrate these properties into our existing operations quickly and efficiently, and we expect to add more proved reserves as we further develop these properties," said Doug Foshee, chairman, president and chief executive officer of El Paso Corp.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.