Enbridge Pipelines Inc. and Enbridge Pipelines Athabasca Inc. comprised the business. An indirect subsidiary of the fund acquired the business for CA$30.4 billion and incentive/performance rights.
About 1,000 miles of low- and high-pressure natural gas gathering pipelines and a cryogenic processing plant will serve Martin, Midland and Glasscock counties, Texas. Private-equity firm Warburg Pincus financed transaction.
Canexus Corp.’s North American Terminal Operations crude-by-rail transloading facility has connections to Cold Lake and Access crude oil pipeline systems, and links to Canadian Pacific and Canadian National rail lines.
The 57.98 million-share stake was revealed in a filing the night of Aug. 28 with the Securities and Exchange Commission. Phillips 66 shares closed Aug. 28 at $77.23, Reuters said.
The US$907 million sale to North Sea Midstream Partners, an ArcLight Capital affiliate, includes the Frigg U.K. and SIRGE gas pipelines and the St. Fergus gas terminal, Reuters said.
Magnum Hunter, which has struggled with weak gas prices, said in June that it expected to raise up to $700 million by selling its stake in Eureka Hunter, Reuters reported.
The combined company will operate nearly 200,000 miles of electric lines and more than 80,000 miles of gas pipelines. The deal is valued at about $12 billion, Reuters said.
Isobutanol burns with less corrosion, holds more of gasoline's energy content allowing longer travel, is cheaper to blend with gas, and is compatible with the current petroleum infrastructure.
Gladstone LNG, led by Australia's Santos, expects to begin loading tankers in late September, which traders say will be sold to market participants until long-term delivery obligations begin, Reuters said.
Malaysia is the second-largest exporter of LNG, according to U.S Energy Information Administration. LNG revenues comprised 2.7% percent of Malaysia’s GDP, according to World Bank data, Reuters said.
Argentina’s YPF will buy a 50% stake in Petroken, wholly owned by LyondellBasell, and a 46% share in Petrocuyo. Deals are scheduled to be finalized before year-end 2015, Reuters said.
A multiphase strategy will be used to build the plant, which will handle 1.7 million tonnes per year. The first phase is scheduled to be operational by first-quarter 2018.
|S&S||USD 14800||Members only||Cameron International Corp.|
|E&P||USD 850||Members only||Encana Corp.|
|E&P||USD 1750||Members only||Cobalt International Energy Inc.|
|Mid||USD 185||Members only||WPX Energy Inc.|