M&A deals with gathering agreements designed during high commodity price environment become more complex when prices fall, says consultant.
Ancala Midstream will acquire Apache’s 30.28% share of SAGE and its 60.56% interest in the Beryl Pipeline.
Tesoro Logistics Rockies LLC agreed to buy the assets for $700 million, with about half of the proceeds going to Whiting.
Tesoro Logistics Rockies LLC will purchase the plant and associated gathering lines for $200 million.
The equity deal will see the two related MLPs save money by streamlining costs and completing projects with improved economics.
Activist investor Elliott Management said its recommendations could help the company generate $14 billion to $19 billion for shareholders and boost the stock by more than 80%.
Houston-based ConocoPhillips is in the “initial stages” of putting up its Kenai LNG plant for sale, the company recently announced.
The energy investment firm will continue to operate as Tudor, Pickering, Holt & Co. under the Perella Weinberg umbrella.
The JV, called Permian Express Partners, will consist of assets owned by both companies, according to a statement. Sunoco Logistics will take a stake of 85%, while ExxonMobil will control the remaining 15%.
The combined company will initially focus on driving additional growth in central Oklahoma and across multiple U.S. basins. The company has already improved an expansion of the Grady Processing Plant.
Executive Vice President of Corporate Development Ben Lamb tells How EnLink Midstream pulled off an A-grade deal under extreme conditions.
ETP now owns 100% of the general partner of PTXP and all of its incentive distribution rights, as well as 6.3 million common units and all 20 million subordinated units of PTXP.