After purchasing Permian Basin acreage for $2.75 billion, WPX Energy is set on selling assets in the San Juan Basin, Kansas and the Piceance Basin as it clears the deck of debt.
The board will consider termination of participation in Interconnector on Nov. 30, Gazprom said in a regulatory disclosure. It is unclear whether Gazprom will sell the 10% stake, Reuters reported.
Glencore will assume risks associated with loading oil and chartering vessels at ports where operations have become more unpredictable. Libya will gain steady sales to international buyers, Reuters said.
In its 41-year history, Simmons has executed more than 830 strategic advisory transactions and 330 private and public financings with a total value of about $260 billion.
The Casper terminal is supported by take-or-pay contracts and will probably contribute about $26 million of adjusted EBITDA in 2016 based on minimum contracted payments, USD said.
Marathon Petroleum increases its cash offer to MarkWest—again—as a “best and final” offer as it tries to entice the MLP’s unitholders to vote in favor of selling the company.
Devon Energy’s offshoot will purchase Apache’s Deadwood gas facility interests, upping its net processing capacity to 343 MMcf/d in the Permian Basin. EnLink has invested $1.5 billion in the area.
Sunoco LP will raise cash for the deal through a bank loan and by selling shares. The deal is scheduled to close in February 2016, Reuters said.
The facility in Glasscock County, Texas, in the Permian Basin has capacity of 58 million cubic feet per day and currently processes about 45 million cubic feet per day.
Federal prosecutor Carlos Fernando dos Santos Lima said the bribes related to the Pasadena, Texas, refinery could lead to the annulment of the purchase, Reuters reported.
The deal raises MarkWest distributions considerably—a major point of contention for some investors who deemed the previous $675 million cash offer too small.
Government stimulus policies since the 2008-2009 recession have pushed the U.S. into a “Bizarro World” where the economy does not work as it should, according to a senior Bloomberg economist.