Houston-based service company MRC Global entered into an agreement to sell its U.S. oil country tubular goods, which follows a sale in late January by Canada's largest pressure pumper.
OPIS, the most complete source for U.S. refined petroleum pricing data, news and analytics for the downstream market, will remain based in Gaithersburg, Md.
Revolving credit facility borrowings will fund the remaining $70 million cash purchase price for the Golar Tundra. About $380 million of debts will then mature in 2021 instead of from 2018.
Midstream assets figure heavily into deal, with Dominion calculating that $425 million in EBITDA could be moved into its midstream MLP. The merger would put Eastern and Western gas market under Dominion’s roof.
The assets include 100% working interest in select Deep Basin and central Alberta gas processing facilities and related infrastructure. The majority are located in Tidewater's core West Pembina region.
In connection with the transaction, TransMontaigne Partners LP’s senior secured credit facility was amended, reflecting ArcLight as the indirect owner of the general partner interest.
Ernst & Young report sees deals taking off if calm is restored to the markets.
Facility stores more than 6 million barrels of gasoline, ethanol, middle distillates, biodiesel, kerosene and LPG. Terminal assets are on the North Sea Canal in Amsterdam, Rotterdam and Antwerp region.
PBF Logistics said the deal, which will add third-party customers to its revenue base, is expected to close in the second quarter.
About 160 former BP employees were included as part of the roughly-$350 million transaction. KMI will operate and market 14 of the terminals, which the joint venture will own.
This follows CenterPoint's $363 million investment in Enable Midstream's preferred securities on Jan. 29, through early redemption of notes payable to a CenterPoint unit of the same amount, Reuters said.
The 51% stake will go to Malaysia Hengyuan International Ltd., a unit of China's Shandong Hengyuan Petrochemical Co. Shareholders will hold remaining shares, Reuters said.