Companies & Finance

El Paso Corporation to spin off E&P business

Houston-based El Paso Corporation announced, on 24 May, that its Board of Directors has approved a plan to divide the company into two publicly traded businesses by the end of 2011.
By Leigh Elston 25 May 2011 0 41

Houston-based El Paso Corporation announced, on 24 May, that its Board of Directors has approved a plan to divide the company into two publicly traded businesses by the end of 2011.

After the spin-off, El Paso Corporation will be comprised of El Paso’s Pipeline Group, its Midstream Group, and its general and limited partner interests in El Paso Pipeline Partners, making it the largest pure pipeline company in the United States. El Paso’s exploration and production business will be a separate, publically-traded company holding the equivalent...