Vanguard buys LRR Energy’s Permian and Arkoma assets, including 1,290 gross producing wells and about 158,000 net acres. LRR’s proved reserves were about 203 Bcfe in December 2014.
A wave of cheap money chasing deals is taking the pressure to divest midstream assets off of upstream operators, while making deals more challenging.
The downturn is forcing change—for the better.
Thanks in part to low energy prices, an ongoing expansion could be one of the longest on record, Morgan Stanley’s chief U.S. economist says.
Final dropdown of Devon’s legacy assets, given in 2014, was made for about $900 million of newly issued ENLK units. Assets include North Texas and Oklahoma gathering and processing systems.
The companies will jointly fund an enhancement of the 13-11-62-27W5M Simonette facility. A shallow cut refrigeration system and sales connection to TransCanada Corp.'s NGTL pipeline system will be added.
Commercially operable Joliet Terminal can unload about 85,000 barrels per day of crude oil. There are about 300,000 barrels of onsite storage, and connections to common carrier crude oil pipeline.
Shell Midstream Partners LP will acquire additional interests in Zydeco Pipeline Co. LLC and Colonial Pipeline Co. for $448 million in a dropdown from Shell Pipeline Co. LP.
The Dallas-based company began trading under ticker "AZUR." Company said May 20 that it changed its name from Marlin Midstream Partners LP. The company had applied to delist from NASDAQ.
The buyback has no fixed expiration. Payments will support working capital. Robert Herlin, CEO, said the company’s planned 2016 cash flow will support NGL plant in Louisiana’s Delhi Field.
Summit Midstream Partners LP said May 28 that underwriters exercised and closed their option to purchase 975,000 additional notes in 6.5 million common units offering that closed May 13.