Professional M&A intelligence for the energy transition
ONEOK (NYSE: OKE) acquired Magellan Midstream Partners LP (NYSE: MMP) in a $18.8B cash-and-stock transaction ($25/unit cash + 0.667 ONEOK shares), creating a diversified $60B enterprise with 50,000 miles of pipeline. The deal combined ONEOK's NGL/gas with Magellan's refined products/crude pipelines. Magellan will be merged into a newly created 100% wholly-owned subsidiary of ONEOK. Each […]
Hawkins Lease Service has acquired Knock Out Energy LLC to expand its oilfield services footprint in the Permian Basin. Knock Out Energy provides oilfield services supporting drilling and production operations in the region. The acquisition adds equipment, personnel and operational capacity to Hawkins’ existing service platform. Hawkins said the transaction strengthens its ability to support […]
Kodiak Gas Services has acquired more than 20,000 horsepower of large-horsepower compression assets from an oil and gas producer operating in the Permian Basin.
Kyuden International has agreed to acquire IHI Power Services Corp., a U.S. provider of operations, maintenance and asset management services for power generation facilities. The transaction will bring IHI Power Services into the Kyuden Group through its U.S. subsidiary, Kyuden International Americas. The deal marks Kyuden's first investment in an operations-and-maintenance-focused energy services business in […]
Electro Switch Corp. has acquired E-MAX Instruments, a provider of control and monitoring solutions for electrical substation equipment, expanding its capabilities in power grid infrastructure. Founded in 1975, E-MAX manufactures products including trip indication relays, digital fault recorders and battery monitoring systems used in utility substations and critical power applications. The acquisition complements Electro Switch's […]
Private equity funds affiliated with Blackstone's Energy Transition Partners agreed to acquire the 620-MW Hill Top Energy Center, a natural-gas-fired power plant from Ardian for nearly $1 billion. The plant, located in in western Pennsylvania, was completed in 2021 in Greene County. It supplies electricity to the PJM power market and is positioned to support […]
Ares Management acquired 100% of Meade Pipeline from XPLR Infrastructure for approximately $1.1 billion in cash. XPLR is an independent power producer formed by NextEra Energy. Meade owns approximately 40% of the Central Penn Line (CPL), a FERC-regulated, 180-mile pipeline that transports natural gas from prolific production zones in the Marcellus and Utica Shale in […]
Targa Resources (NYSE: TRGP) closed the acquisition of Stakeholder Midstream for $1.25 billion in cash. The acquisition will allow Targa Resources to expand its natural gas gathering, treating and processing footprint in the Permian Basin. The assets include about 480 miles of natural gas pipelines and roughly 180 MMcf/d of cryogenic processing and sour-gas treating capacity, […]
Diversified Energy acquired Maverick Natural Resources' Permian Basin assets for $1.27 billion, marking the company's first foray into the Permian, America's most productive oil and gas play. The deal adds production-heavy, long-life assets to Diversified's portfolio. According to Enverus, Permian land has been prioritized for acquisitions because high-quality inventory generates strong returns through the commodity […]
EQT will acquire upstream and midstream assets of Olympus Energy for $1.8 billion, including $1.3 billion in stock and $500 million in cash. The assets include 90,000 net acres in Southwest Pennsylvania, producing about 500 MMcf/d, with over 10 years of Marcellus inventory and 7 years of Utica upside.