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Advisory firms back Energy Transfer merger; Marathon, Andeavor close $23B deal


Insight Weekly: Sustainable bonds face hurdles; bad loans among landlords; AI investments up


Insight Weekly: Bank oversight steps up; auto insurers’ dismal year; VC investment slumps


Insight Weekly: Renewables lead capacity additions; bank mergers of equals up; nickel IPOs surge


Insight Weekly: Utilities face headwinds; S&P 500 dividend hikes likely; dollar poised for rally

Advisory firms back Energy Transfer merger; Marathon, Andeavor close $23B deal

Natural gas/midstream M&A

Proxy advisory firms support Energy Transfer simplification merger

Two major proxy advisory firms endorsed the $26.55 billion merger deal between Energy Transfer Equity LP and Energy Transfer Partners LP, two of the largest pipeline master limited partnerships in the U.S.

Marathon, Andeavor complete $23B merger, forming largest independent US refiner

Marathon Petroleum Corp. and Andeavor closed their $23.3 billion merger, forming the largest independent U.S. refining company by both market capitalization and capacity.

Husky Energy formalizes offer to acquire MEG Energy

Husky Energy Inc. filed its offer to buy out the oil sands producer MEG Energy Corp., giving public notice to MEG shareholders that they have until January 2019 to respond to the C$3.3 billion cash-and-stock offer.

Enbridge closes provincially regulated portion of its Canadian asset sale

Enbridge Inc. completed the sale of the provincially regulated portion of its agreement to divest its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta to investment manager Brookfield Infrastructure Partners LP.

Plains, Magellan close sale of 50% stake in BridgeTex crude pipeline for $1.44B

Plains All American Pipeline LP and Magellan Midstream Partners LP closed their $1.44 billion deal to sell a 50% stake in the BridgeTex Pipeline Co. LLC crude oil pipeline system to the investment manager OMERS Infrastructure Management Inc.

Williams closes Four Corners sale to Harvest for $1.13B

Williams Cos. Inc. completed the sale of its Four Corners area business in New Mexico and Colorado to Harvest Midstream Co. for $1.13 billion.

Precision to buy Trinidad for C$1.03B to create 3rd-largest US driller

Canada-based Precision Drilling Corp. has agreed to purchase Trinidad Drilling Ltd. for C$1.03 billion, including the assumption of C$477 million in Trinidad net debt.

Shell completes sale of downstream business in Argentina for $916M

Oil major Royal Dutch Shell PLC subsidiary Shell CAPSA completed the previously announced sale of its downstream business in Argentina to Raizen SA for a final consideration of $916 million.

Encana to sell New Mexico oil, gas assets for $480M

Encana Corp. subsidiary Encana Oil & Gas USA Inc. agreed to divest its San Juan Basin assets in New Mexico to the Denver-based private upstream company DJR Energy LLC for $480 million.

ConocoPhillips to sell stake in Southeast Asia offshore fields for $350M

ConocoPhillips has agreed to sell its 30% stake at the Greater Sunrise Fields to the government of Timor-Leste for $350 million.

Marathon looking to dump UK oil, gas assets

Marathon Oil Corp. is looking to sell its interests in oil and natural gas assets in the North Sea in the United Kingdom.

Exxon mulls sale of Gulf of Mexico assets

Higher prices have prompted U.S. oil major Exxon Mobil Corp. to review its portfolio and consider selling its assets in the Gulf of Mexico.

Northern Oil and Gas closes acquisition of Williston basin assets

Northern Oil and Gas Inc. closed the previously announced acquisition of assets in the Williston basin from W Energy Partners for a closing consideration of $114.8 million in cash and 51,476,961 shares of the company's common stock.

PBF Logistics closes $107M Delaware River storage, transport asset buy

PBF Logistics LP completed its acquisition of a storage facility and other idled assets on the Delaware River near Paulsboro, N.J., from the petroleum refiner Crown Point International LLC for $107.0 million.

Arrow Exploration Corp. completes acquisition of Canacol, Samaria assets

Arrow Exploration Corp., the newly-formed combination of Front Range Resources Ltd. and Arrow Exploration Corp., closed its acquisition of Carrao Energy Ltd. from Canacol Energy Ltd and completed the asset purchase of a 50% interest in an undeveloped block in Colombia's Llanos basin from private exploration and production company Samaria Exploration & Production SA.

Equinor purchase of Chevron's interest in Rosebank to expand its UK position

Equinor confirmed that it will buy Chevron Corp.'s 40% operated stake in the Rosebank field, one of the largest undeveloped fields on the United Kingdom continental shelf.

OMV considering 24.98% interest in blocks 4A, 5A of Urengoy field in Russia

Austrian integrated oil and gas company OMV AG signed a basic sale agreement with PJSC Gazprom for the potential acquisition of a 24.98% interest in blocks 4A and 5A of the Achimov formations in the Urengoy oil, gas and condensate field in Russia.

PKN Orlen completes buyout of Unipetrol, to expand in Czech Republic

Polish state-owned oil refiner and retailer PKN ORLEN SA completed its purchase of the remaining 5.97% shares in subsidiary UNIPETROL a.s. for 380 Czech koruna per share.