Austrian oil and gas group OMV AG said April 24 it would provide long-term financing to secure 30% of its share of project costs of the Nord Stream 2 pipeline from Russia.
Terry K. Spencer, president and CEO of ONEOK and ONEOK Partners, said this is a positive step in the move forward as one standalone company.
The offering is expected to close on April 10. Upon closing, the public will hold an approximate 26.5% limited partner interest. If the underwriters exercise the option in full, that interest will be an approximate 30.5%.
The net proceeds will repay the $185 million of 5.95% senior notes due 2017 upon their maturity on April 15, and support general corporate purposes.
The units will trade on the New York Stock Exchange under the ticker symbol "HESM."
Two deals increase MLP's borrowing limit to $1.1 billion and provide $275 million in liquidity.
ETP, MPLX and Enbridge complete transactions on the Bakken Pipeline System.
East Daley takes a granular approach in its outlook for 23 prominent midstream public companies.
The midstream infrastructure projects it will support include gathering, processing, distribution, storage and marketing of oil, natural gas and refined products. It will also support related segments of the energy value chain, the firm said.
The system near Carlsbad in Eddy County, N.M., will have low- and high-pressure gas gathering pipelines, a 130 million cubic feet per day cryogenic processing plant and an NGL takeaway pipeline.
The amendment also provides for a new $15 million commitment from certain of the parent’s shareholders in the form of equity or debt by Dec. 31, 2017.
There were more than six weeks of negotiations, but Cheniere determined that an acceptable definitive agreement could not be reached, according to a Dec. 9 press release.