Professional M&A intelligence for the energy transition
Antero Midstream agreed to acquire HG Energy II Midstream Holdings for $1.1 billion in cash, adding gathering and water infrastructure in the Marcellus Shale contiguous with its existing system. The assets include about 50 miles of gas gathering pipelines and 50 miles of water pipelines. In a related move, the company will divest its Ohio […]
Deep Blue Midland Basin LLC completed the acquisition of Environmental Disposal Systems from Diamondback Energy in a deal valued at about $750 million, expanding its produced-water infrastructure platform in the Midland Basin. Diamondback received about $695 million in upfront cash, retained a 30% equity stake in Deep Blue, and may receive up to $200 million […]
BP agreed to sell non-controlling interests in Permian and Eagle Ford midstream assets - U.S. onshore midstream assets - to funds managed by Sixth Street for $1.5 billion. The deal has a total consideration of $1.5 billion and is structured in two phases: about $1 billion paid upon signing with the balance expected by the […]
DT Midstream (NYSE: DTM) acquired a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK (NYSE: OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region. DT Midstream bought 100% operating ownership in Guardian Pipeline, Midwestern […]
Enterprise Products Partners L.P. (NYSE: EPD) closed its acquisition of a natural gas gathering affiliate of Occidental in a debt-free transaction for $580 million in cash. The acquired assets include certain natural gas gathering systems in the Midland Basin, as well as approximately 200 miles of natural gas gathering pipelines that support Occidental’s production activities […]
MPLX LP (NYSE: MPLX) completed the $2.38 billion acquisition of Northwind Delaware Holdings LLC, which provides sour gas gathering, treating, and processing services in Lea County, New Mexico. The acquisition was financed and the incremental capital expenditures associated with in-process expansion projects will be funded by net proceeds from MPLX's $4.5 billion senior notes issued […]
Tidewater Midstream and Infrastructure (TSX: TWM) acquired the North Segment of the Western Pipeline System from Pembina Pipeline and certain of its affiliates. The Western Pipeline is a key infrastructure asset to Tidewater, connecting the Prince George Refinery (PGR) to crude supply in Northeastern British Columbia. Integration of the Western Pipeline within Tidewater's downstream operations […]