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.
Maverick Terminals LLC acquired majority interest in GT Omniport Terminal from GT Logistics LLC. GT Omniport currently handles crude oil, but will be expanded to handle refined products and NGL.
Anadarko Petroleum Corp. has no interest in selling down its stake in planned LNG project in Mozambique, CEO Al Walker said, Reuters reported. Anadarko wants to operate the multibillion-dollar project.
Indian oil refinery complex operator Reliance invested more than $8 billion in its U.S. unconventional gas joint ventures through March, Bloomberg reported. It is considering sale in private matter.
Under deal with Enterprise Partners, feedstock may be used in U.S. or exported, acting CEO Yousef al Benyan told Bloomberg. Saudi Basic Industries Corp. converted U.K. crackers to produce olefins.
After a two-for-one split, common units began trading on the New York Stock Exchange July 27. Going forward, the quarterly distribution amount will reflect the split.
EVX develops oil and natural gas, and also develops produced-water gathering, processing, treatment and transportation assets, in the Permian Basin, Eagle Ford Shale and Midcontinent.
The merger of QEP Midstream Partners LP and Tesoro Logistics LP was approved during a unitholder meeting in San Antonio on July 21.
The transaction is expected to close on August 1. Tudor, Pickering, Holt & Co was the financial adviser to ETP, while Akin Gump Strauss Hauer & Feld LLP and Richard Layton & Finger PA its legal advisers.