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Oil, gas producers may be ripe for M&A; Blackstone, Tallgrass close $3.2B deal


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Oil, gas producers may be ripe for M&A; Blackstone, Tallgrass close $3.2B deal

Coal M&A

GCM Resources, PowerChina ink 2nd coal-fired power plant JV deal at Phulbari

GCM Resources PLC entered into a second joint venture agreement with Power Construction Corp. of China Ltd., or PowerChina, for another power plant project at its proposed Phulbari coal mine in northwestern Bangladesh.

Natural gas/oil M&A

US oil, gas producers may be ripe for M&A, but buyers hard to find, analysts say

Lower valuations for independent oil and gas producers could set the stage for consolidation, according to some industry analysts. But the reality of low oil prices and a disciplined spending climate may make buyers hard to come by.

Report: Petrobras looks to divest $10B in assets in 1st 4 months of year

Petróleo Brasileiro SA - Petrobras said it expects to sell about $10 billion in assets in the first four months of the year, Reuters reported, citing Petrobras CEO Roberto Castello Branco.

Supermajors expected to play 'proactive role' in Permian consolidation

The next big shale deal between an integrated oil and gas company and an independent producer could involve one of the Permian Basin's biggest players, according to private equity investors and industry experts.

Report: Aramco board to meet to approve bonds to fund SABIC acquisition

Saudi Arabian Oil Co.'s board will meet this week in Saudi Arabia to approve a bond issuance plan that could fund the potential acquisition of a 70% stake in Saudi Basic Industries Corp., Reuters reported.

Blackstone completes $3.2B Tallgrass Energy controlling stake acquisition

Affiliates of Blackstone Infrastructure Partners closed a roughly $3.2 billion acquisition of a 44% interest in Tallgrass Energy LP and full membership interest in Tallgrass' general partner.

EQM betting on continued Appalachian gas growth with $1B bolt-on

EQM Midstream Partners LP's planned $1.03 billion acquisition of gas gathering systems in the Appalachian Basin represents a departure from broader sector trends toward private equity investment in oil and gas assets, and some analysts are skeptical of whether EQM is getting its money's worth.

TPG Capital to buy majority stake in Goodnight Midstream for $930M

Private equity firm TPG Capital Management LP agreed to acquire a majority stake in oilfield water infrastructure provider Goodnight Midstream LLC from Tailwater Capital LLC and other private investors for about $930 million.

Report: Macquarie exits consortium bidding for Petrobras

Macquarie Group Ltd. withdrew its participation in a consortium that intends to bid for Petrobras' Transportadora Associada de Gas pipeline network, Bloomberg News reported, citing sources.

Petrobras closes sale of Paraguayan fuel distribution businesses for $380M

Petrobras said subsidiary Petrobras International Braspetro BV completed the sale of stakes in three companies to Copetrol SA's Paraguay Energy.

Antero gets $297M, 31% stake in simplified midstream company

Antero Resources Corp. received $297 million in cash and a 31% ownership stake in the newly formed Antero Midstream Corp., the emerging entity after the closing of the simplification deal between Antero Midstream Partners LP and Antero Midstream GP LP.

Report: Shell 'actively' seeking deals to grow Permian output by 30% per year

Oil major Royal Dutch Shell PLC is seeking deals in the Permian Basin to bulk up its position, Bloomberg reported, citing incoming Shell Upstream director Wael Sawan.

Noble Midstream closes deal to buy stake in Epic's Permian crude pipe project

A subsidiary of Permian Basin shale driller Noble Energy Inc. closed its option to snap up a 30% stake in Epic Midstream Holdings LP's crude pipeline project, expanding the company's takeaway capacity in the production area.

Eni to sell 25.5% stake in A5-A block offshore Mozambique to Qatar Petroleum

Eni SpA said it signed an agreement to sell a 25.5% stake in its operated A5-A block offshore Mozambique to Qatar Petroleum for an undisclosed amount.

Petrobras to sell 70% stake in Maromba field to BW Offshore for $90M

Petrobras said March 8 that it signed an agreement with BW Offshore Ltd. to sell its 70% stake and operatorship of the Maromba field in the Campos Basin offshore Brazil for $90 million.

TechnipFMC acquires dive support vessel for North Sea operations

U.K.-based TechnipFMC PLC said it acquired a new dive support vessel, which will be called the Deep Discoverer, for its North Sea operations.