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Glencore to buy 2 Rio Tinto coal mines; NuStar will not partner with just anyone


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Glencore to buy 2 Rio Tinto coal mines; NuStar will not partner with just anyone

Coal M&A

Glencore to buy Rio Tinto's Hail Creek, Valeria coal mines for US$1.7B

Glencore PLC said March 20 that it agreed to acquire Rio Tinto's 82% stake in the Hail Creek coal mine and a 71.2% stake in the Valeria coal project, both in Queensland, Australia, for US$1.7 billion in cash.

Kinetic Mines prioritizing acquisitions over cash return to shareholders

Kinetic Mines & Energy Ltd. would prioritize acquisitions over dividend payments, as it plans to take advantage of a government-led restructuring initiative across China's coal sector to expand its production capacity, according to MK Lau, head of corporate finance and investor relations.

Natural gas/midstream M&A

An attractive buy for crude oil export-minded companies, NuStar knows its value

NuStar GP Holdings LLC is an attractive buy for other energy pipeline companies looking to gain a foothold in the booming crude oil export business, but its recent rejection of Energy Transfer Equity LP's unsolicited acquisition offer indicates the firm will not scuttle its corporate consolidation to partner with just anyone.

New company led by Occidental's former CEO to buy South Texas assets for $2.66B

Occidental Petroleum Corp.'s former CEO Steve Chazen is jumping back into Texas' oil and gas industry heading a new company that plans to buy EnerVest Ltd.'s Eagle Ford and Austin Chalk assets for $2.66 billion in cash and stock.

SandRidge rejects Midstates' merger offer, says open to other deals

SandRidge Energy Inc.'s board of directors has rejected a $564 million all-stock merger offer from Midstates Petroleum Co. Inc., but it said SandRidge is effectively on the market.

Wolf Midstream closes C$1.61B bitumen pipe, condensate terminal buy

Wolf Midstream Inc. completed its acquisition of the remaining 50% interest in Access Pipeline and 100% interest in the Stonefell Terminal from Canadian producer MEG Energy Corp. for C$1.61 billion.

LNG developer Tellurian gets $50M investment from contractor Bechtel

Tellurian Inc. sold a $50 million preferred equity stake to an affiliate of Bechtel Oil Gas and Chemicals Inc., the contractor for Tellurian's under-development Driftwood LNG export venture.

Delaware Basin producer closes $65M acreage buy in New Mexico

Lilis Energy Inc. closed its acquisition of additional acreage in the Delaware Basin in southeastern New Mexico for about $65 million, expanding its position in the resource play and coming closer to its goal of 20,000 net acres.