Indian oil refinery complex operator Reliance invested more than $8 billion in its U.S. unconventional gas joint ventures through March, Bloomberg reported. It is considering sale in private matter.
PES would receive controlling interest in crude oil rail-loading facility handling 210,000 barrels per day, nearly 1 million barrels of oil storage and 39-mile pipeline in North Dakota, Bloomberg said.
Under deal with Enterprise Partners, feedstock may be used in U.S. or exported, acting CEO Yousef al Benyan told Bloomberg. Saudi Basic Industries Corp. converted U.K. crackers to produce olefins.
Michael A. Creel, CEO of Enterprise’s general partner, said the proceeds enhance the company’s financial flexibility for Eagle Ford and Permian Basin projects. Including proceeds, current liquidity surpasses $6 billion.
Pawnee Terminal is primary injection site for Tallgrass Energy Partners’ Northeast Colorado Lateral on the Pony Express Pipeline, which takes crude oil from Bakken and Niobrara formations to Cushing, Okla.
Texas Gathering Co. gathers about 24,000 barrels per day of crude, primarily in Texas. Owner Travis Davis and management team joined First River Energy and will continue managing the business.
The merger of QEP Midstream Partners LP and Tesoro Logistics LP was approved during a unitholder meeting in San Antonio on July 21.
Energy Transfer Equity LP signed confidentiality agreement to participate in an auction for Williams Cos., the pipeline company that turned down its $48 billion takeover offer last month, Bloomberg said.
The MLP structure is still viable, Emily Hsieh, director of operations for MLP indexing firm Alerian, told Bloomberg. Recent Williams Cos.-Kinder Morgan Inc. consolidation efforts left investors questioning the model.
SEI Energy Consulting expects to close both transactions by the fourth quarter of 2015.
Enterprise paid the first installment of $1.15 billion, and the final $1 billion payment is due on the first anniversary of closing date. The transaction’s effective date is July 1.
All-stock offer is now worth $44.6 billion, Reuters said. Energy Transfer Equity LP is open to Williams’ strategic review, and willing to “take any steps necessary” to acquire the company.
|E&P||USD 217||Members only||Milagro Oil & Gas Inc.|
|E&P||USD 118||Members only||Goodrich Petroleum Corp.|
|E&P||USD 47||Members only||McCabe Petroleum Corp.|
|Mid||USD 1500||Members only||Enterprise Products Partners LP|
|Chesapeake Energy Corp.; Statoil ASA||Members only||08/13/2015|
|Chevron Corp.; Chevron Michigan LLC||Members only||08/11/2015|
|Chevron Corp.; Chevron USA Inc.; Chevron Midcontinent LP||Members only||08/11/2015|
|Receiver for Vendetta Royalty Partners Ltd.||Members only||08/06/2015|