BNP shut its reserve-based lending business in Houston last week after 13-year-low oil prices stoked concerns of rising loan defaults among borrowers, according to three sources.
Entegra has engineering, R&D and inline inspection tool fabrication resources in Toronto and sales and field operations in Houston and Indianapolis.
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.
Craig Pierrotti, CAM’s CEO, was executive vice president for CH2M’s oil, gas and chemicals. Mitch Stamper was a facilities engineering manager for East Texas and North Louisiana at Anadarko Petroleum.
Produced and flowback water is treated and recycled with proprietary systems, which are designed to cut water-specific operating costs by eliminating wastewater transportation and disposal and freshwater sourcing and transportation.
Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis.
Lipschultz will leave KKR this month to start the new fund with Doug Ostrover, a former executive of private equity firm Blackstone, who helped to found its credit business, GSO Capital.
Net proceeds will be about $1.6 billion, $140 million more than the amount expected due to additional commitments. The proceeds will support capex, debt payments and general partnership purposes.
The transaction is scheduled to close before the end of first-quarter 2016, subject to CenterPoint’s completion of its review of Enable’s audited year-end 2015 financial statements and other conditions.
Neal Shear, chairman of the board and interim CEO, said when the transaction closes and CCTP and SPLNG obligations are paid, Cheniere Partners’ earliest debt maturity will be in 2020.
The firm plans to raise $130 million through the offering of 13 million units sold at $10 per unit, according to Securities and Exchange Commission filings on Jan. 19.
Kinder Morgan, the largest energy infrastructure company in North America, cut its 2016 capital budget to $3.3 billion from its previous estimate of $4.2 billion.