FourFourTimes article The Houston Natural Gas Company is reporting it’s finally selling the assets it acquired from its former parent company.
The Houston-based company sold $7.7 billion of the properties, which were valued at more than $40 billion, in January.
That’s down from $8.9 billion of assets in 2016.
The Houston Company was a private company until it merged with BP in 2013, after which it became part of the Texas Railroad Commission.
BP’s purchase of Houston Natural’s assets has been subject to the SEC’s review process and approval by the Commodity Futures Trading Commission.
The Houston Natural gas Company owns oil, natural gas and coal assets in the Gulf Coast region and in Texas.
It also owns and operates natural gas transmission and distribution facilities, including two natural gas pipelines that deliver gas to the East Coast and Texas.