Finance - Acquisitions Divestitures

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WPX Jumpstarts Deleveraging Plan With $185 Million Midstream Sale

The Tulsa, Okla.-based company is working to quickly reduce debt just two weeks after closing its $2.75 billion acquisition of privately held RKI Exploration & Production LLC.

Emily Moser
Mon, 08/31/2015 - 10:01
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Total Will Sell Some North Sea Pipeline Assets To ArcLight Capital Affiliate

The US$907 million sale to North Sea Midstream Partners, an ArcLight Capital affiliate, includes the Frigg U.K. and SIRGE gas pipelines and the St. Fergus gas terminal, Reuters said. 

Erin Pedigo
Thu, 08/27/2015 - 08:52
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Schlumberger Plans To Buy Cameron In $14.8 Billion Deal

Schlumberger Ltd. (NYSE: SLB) and Cameron (NYSE: CAM) have reached a definitive merger agreement in which the companies will combine in a stock and cash transaction, the companies said in a joint statement.

The deal is valued at $14.8 billion. The agreement was unanimously approved by the boards of directors of both companies.

“This agreement with Cameron opens new and broader opportunities for Schlumberger. At our investor conference in June 2014, we highlighted how the E&P industry must transform to deliver increased performance at a time of range-bound commodity prices,” Schlumberger CEO Paal Kibsgaard said. "With oil prices now at lower levels, oilfield services companies that deliver innovative technology and greater integration while improving efficiency, which our customers increasingly demand, will outperform the market.

Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share, the release said.

Wed, 08/26/2015 - 06:15
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Deal Gives Encana Exit From Louisiana Haynesville

After a decade in the Haynesville, the company shifted from natural gas to a broader asset base that included liquids. The company also gains relief from obligations to its midstream assets.

Emily Moser
Tue, 08/25/2015 - 12:30
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Energy Transfer Will Bid For Magnum Hunter Subsidiary Stake

Magnum Hunter, which has struggled with weak gas prices, said in June that it expected to raise up to $700 million by selling its stake in Eureka Hunter, Reuters reported.

Erin Pedigo
Mon, 08/24/2015 - 14:04
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Southern’s Deal For AGL Resources Spotlights Shale-Gas Use

AGL is planning to spend $670 million on interstate pipeline construction projects, including infrastructure from the Marcellus and Utica and that could grow volumes moving to the Southeast, Midcontinent and Eastern Canada.

Darren Barbee
Mon, 08/24/2015 - 13:07
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Evolution Midstream Receives $300 Million In Equity

Denver-based Evolution was launched in July and provides greenfield and strategic acquisition solutions to operators in the Rockies, Bakken Shale, Permian Basin, Midcontinent and Appalachia.

Erin Pedigo
Mon, 08/24/2015 - 11:09
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Power Producer Southern Co. Will Buy AGL Resources

The combined company will operate nearly 200,000 miles of electric lines and more than 80,000 miles of gas pipelines. The deal is valued at about $12 billion, Reuters said.

Erin Pedigo
Mon, 08/24/2015 - 08:44
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Australia's Gladstone LNG Will Offer Commissioning Cargoes

Gladstone LNG, led by Australia's Santos, expects to begin loading tankers in late September, which traders say will be sold to market participants until long-term delivery obligations begin, Reuters said.

Erin Pedigo
Fri, 08/21/2015 - 08:39
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Petronas Receives Shell's Malaysia MLNG Plant Stake

Malaysia is the second-largest exporter of LNG, according to U.S Energy Information Administration. LNG revenues comprised 2.7% percent of Malaysia’s GDP, according to World Bank data, Reuters said. 

Erin Pedigo
Thu, 08/20/2015 - 15:29
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Southcross Companies Receive $175 Million In Equity

Charlesbank Capital Partners, EIG Global Energy Partners and Tailwater Capital provided the commitment. Southcross plans to complete an Eagle Ford midstream asset dropdown every four to six months. 

Erin Pedigo
Thu, 08/20/2015 - 10:46
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Argentina's YPF Will Pay US$122 Million For Petrochemical Stakes

Argentina’s YPF will buy a 50% stake in Petroken, wholly owned by LyondellBasell, and a 46% share in Petrocuyo. Deals are scheduled to be finalized before year-end 2015, Reuters said.

Wed, 08/19/2015 - 11:48

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