EOG Agrees to Acquire Galveston LNG Inc.

PR Newswire is reporting that EOG Resources, Inc. EOG announced that its Canadian subsidiary, EOG Resources Canada Inc., has agreed to acquire the shares of Galveston LNG Inc. Under the terms of the agreement, EOG's offer to purchase the shares of Galveston LNG Inc. is conditioned upon the achievement of certain commercial and regulatory milestones. "EOG is pleased to partner with Apache APA in the development of this new market opportunity for natural gas from our Canadian operations. By combining our experience and resources, we are confident we can move this project to completion," said Mark G. Papa, Chairman and Chief Executive Officer. "As a part of this process, we look forward to continuing to build on the relationship with the Haisla First Nation and being a part of Kitimat and surrounding communities," He also said.