Norwegian energy powerhouse’s plan while commodity price woes persist is to prudently seek opportunities to reinforce its upstream-oriented global position.
Central Area Transmission System’s riser platform is next to Everest platform, Block 22/10. Pipeline connects riser platform to Seal Sands, Teesside, gas terminal. CATS transports 8% of UK’s gas demand.
Niska Gas Storage Partners LLC seeks buyers for a sale, people with knowledge of private matter told Bloomberg. Riverstone Holdings and Carlyle Group Plc back Pennsylvania-based Niska, working in Canada.
People familiar with the matter told Bloomberg that BP Plc seeks buyers for $2 billion of U.S. pipelines and storage terminals. Potential buyers received materials regarding infrastructure across the country.
Vanguard buys LRR Energy’s Permian and Arkoma assets, including 1,290 gross producing wells and about 158,000 net acres. LRR’s proved reserves were about 203 Bcfe in December 2014.
A wave of cheap money chasing deals is taking the pressure to divest midstream assets off of upstream operators, while making deals more challenging.
In an April 20 statement, Huntington Ingalls Industries (NYSE:HII) announced it completed discussions with Kinder Morgan Inc. (NYSE:KMI) regarding redevelopment of HII’s Avondale shipyard in Louisiana.
Exterran Holdings Inc. (NYSE: EXH) and Exterran Partners LP (NYSE: EXLP) announced April 20 that Exterran Partners acquired assets from Exterran Holdings for consideration valued at $102.3 million.
Dan Revers, managing partner and co-founder of ArcLight, said the firm has a long track record of investing in refined products storage and pipeline infrastructure.
JP Energy Partners LP will acquire the assets of Southern Propane Inc. for about $14.9 million, Business Wire said. JP also announced plans for its Silver Dollar Pipeline system.
Global Partners LP will purchase 97 Mobil- and Exxon-branded retail gas stations and seven dealer supply contracts for about $156 million. The stations are in New York and Maryland/Washington D.C.
With BG Group up for grabs, it looks Shell will absorb the smaller company in what analysts are predicting might be a wave of new M&A.