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.
A loan from VTTI BV financed the deal. VTTI indirectly owns a total economic interest of 42.6% and a 51.0% indirect voting interest in VTTI Operating.
The proprietary 367-mile offshore pipeline can transport 350,000 barrels per day of crude oil to Texas and Louisiana markets. South Marsh Island strategic platform 205 is under ownership.
Midstream assets included in the joint venture include a natural gas processing plant in Tioga, N.D. Hess Infrastructure will make an IPO of Hess Midstream Partners LP common units.
Frontline 2012 was spun off from Frontline three years ago and has since divested its dry-bulk and gas fleet to focus on crude oil and product tankers, Reuters said.
Cheniere Partners will close credit facilities and issue Bechtel Oil Gas and Chemicals Inc. a notice to proceed on Train 5. Trains 1, 2 were about 90.8% complete May 31.
CorEnergy offered 11.25 million common shares priced at $6 each for $67.5 million. CorEnergy also priced unsecured convertible senior notes at $100 million. Both offers scheduled to close June 29.
When the previous 31,138 shares are added to this amount, Rex American can now buy back 531,138 shares. To date, the company has repurchased 466,444 shares priced at $62.53 each.
Both new facilities mature on Sept. 30, 2016, and will support Stack and Woodford gas and oil gathering and processing. Capital One NA led six banks as administrative agent.