Professional M&A intelligence for the energy transition
Eversource Energy (NYSE:ES) sold Aquarion Water Company to the Aquarion Water Authority (AWA), a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, for about $2.4 billion, which includes $800 million of net debt.
Dominion Energy (NYSE: D) closed on a deal to sell a 50% noncontrolling interest in the Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak. The 2.6-GW CVOW, the largest offshore wind farm currently under construction in the United States, is on schedule to generate enough clean, renewable energy to power up to 660,000 homes […]
ProFrac Holding completed the acquisition of U.S. Well Services in a stock-and-cash transaction valued at approximately $316 million.
Williams Companies acquired NorTex Midstream, a natural gas pipeline and storage asset located in north Texas, from an affiliate of Tailwater Capital for $423 million. NorTex owns three natural gas storage facilities in North Texas with combined working gas capacity of 36 Bcf and approximately 80 miles of pipelines.
Kinder Morgan completed the acquisition of STX Midstream from NextEra Energy Partners for $1.82 billion. STX Midstream owns approximately 462 miles of natural gas pipelines including the Eagle Ford Express system and the Carrizo Pipeline serving Eagle Ford, South Texas, and Mexican demand markets.
Bonanza Creek Energy and Extraction Oil & Gas announced the closing of their merger and subsequent acquisition of Crestone Peak Resources. The combined company has now formally been rebranded Civitas Resources. The combined company will operate across approximately 425,000 net acres, with a production base of 117 thousand barrels of oil equivalent per day.
Chevron completed the acquisition of all outstanding public common units of Noble Midstream Partners LP for $1.32 billion. The take-private transaction consolidated Chevron's gathering and processing assets in the DJ and Permian Basins.
Chevron completed its acquisition of Renewable Energy Group (REG) for $61.50 per share in an all-cash transaction valued at about $3.15 billion, or approximately $2.75 billion net of cash acquired. REG was the largest U.S. producer of biodiesel and a producer of renewable diesel.
Plug Power acquired Joule Processing, a Texas-based engineering and process design firm, for approximately $160 million in cash and stock.
ChampionX Corporation acquired UK-based RMSpumptools Limited for approximately $110M, expanding its electric submersible pump (ESP) artificial lift offering with RMS's intelligent ESP technology platform serving the offshore and harsh environment markets.