El Paso Exploration & Production Co., a subsidiary of El Paso Corp., Houston, (NYSE: EP) plans to acquire Houston-based Peoples Energy Production Co., a subsidiary of Integrys Energy Group, Chicago, (NYSE: TEG) for $875 million in cash. Peoples Production has more that 600 proved and probable areas in ArkLaTex, Texas Gulf Coast, San Juan Basin, Mississippi and the Arkoma Basin. Production is 72 million cubic feet of gas equivalent per day. Proved reserves are 305 billion cubic feet equivalent (94% gas, 42% proved developed producing).
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