Professional M&A intelligence for the energy transition
Spire Inc. (NYSE: SR) acquired MoGas Pipeline (an interstate natural gas pipeline) and the connected Omega Pipeline from CorEnergy Infrastructure Trust for $175 million in January 2024. The 263-mile MoGas system primarily serves Missouri, including Spire's existing utility customer base.
EQT Corporation completed its $5.5 billion acquisition of Equitrans Midstream in July 2024, reuniting two companies that had separated in 2018. The combined company became the first vertically integrated U.S. natural gas producer with 27.6 Tcfe of proved reserves. The deal gave EQT control of the Mountain Valley Pipeline and over 2,000 miles of gathering […]
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 […]
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 […]
Phillips 66 (NYSE:PSX) completed its acquisition of EPIC Y-Grade GP LLC and EPIC Y-Grade LP, which own various subsidiaries and long-haul natural gas liquids pipelines, fractionation facilities and distribution systems (EPIC NGL) for total cash consideration of approximately $2.2 billion. The EPIC NGL business consists of two fractionators (170 MBD) near Corpus Christi, Texas, approximately […]
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 […]