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.
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.
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.
Dominion will get about 27,500 miles of gas distribution pipelines, 3,400 miles of gas transmission pipeline and 56 billion cubic feet of working gas storage.
At closing, expected in the first quarter of 2016, the gathering system will consist of more than 220 miles of oil, gas and water gathering lines installed in conjunction with WPX’s drilling in the Gallup oil play.
Josef Kruger, senior insolvency lawyer at Borden, Ladner, Gervais in Calgary, said firm has 5x as many lawyers working on insolvency files as it did two years ago, Reuters reported.