Key North American Hub Prices: Dec. 1, 2015
After weeks of stirring the pot, opponents of the MarkWest Energy Partners LP (NYSE: MWE) merger with MPLX LP (NYSE: MPLX) lost the war but won $605 million in cash concessions from MPLX parent Marathon Petroleum Corp. (NYSE: MPC).
At a special meeting Dec. 1, MarkWest unitholders approved a strategic combination with MPLX. MarkWest and MPLX said 80% of units voted at the special meeting were in favor of the merger.
The transaction, expected to close Dec. 4, means MarkWest, the second-largest processor of natural gas in the U.S. and largest processor and fractionator in the Marcellus and Utica shale plays, will become a wholly owned subsidiary of MPLX.
MarkWest will become a wholly owned unit of MPLX and the two companies are expected to generate a mid-20% compound annual distribution growth rate through 2019, Reuters said.
The TAP project aims to transport gas from Azerbaijan's Shah Deniz II Field in the Caspian Sea, one of the world's largest gas fields, by the end of the decade.
Key North American Hub Prices: Nov. 30, 2015
Oando's gas and power unit reported a net income of $19 million for the nine months to September, down from $22 million the previous year.
Key North American Hub Prices: Nov. 25, 2015
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.
Gasoline prices are the lowest they have been for consumers in seven years, according to data from the Energy Information Administration.
Key North American Hub Prices: Nov. 24, 2015
Key North American Hub Prices: Nov. 23, 2015
Proved reserves of natural gas rose by 34.8 trillion cubic feet, or 10%, in 2014, while oil reserves rose 3.4 billion barrels, or 9%, Reuters reported.