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Inter Pipeline rejects C$12.4B takeover bid; Exxon, Chevron eye Permian M&A

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Inter Pipeline rejects C$12.4B takeover bid; Exxon, Chevron eye Permian M&A

Oil and Gas M&A

Report: Inter Pipeline rejects C$12.4B takeover bid from billionaire Li Ka-shing

Canada's Inter Pipeline Ltd. declined a C$12.4 billion takeover offer from Hong Kong-based CK Infrastructure Holdings Ltd., a public company controlled by billionaire Li Ka-shing, in July, the Globe and Mail reported Sept. 5, citing sources familiar with the two companies.

Exxon, Chevron watching for M&A opportunities in the Permian, CEOs say

Oil and gas supermajors Exxon Mobil Corp. and Chevron Corp. are in no rush to acquire new assets or companies in the Permian basin but are still looking for good deals, top executives from both companies said.

Concho to divest NM assets for $925M, launches share buyback program

Concho Resources Inc. agreed to divest its assets in the New Mexico Shelf to an affiliate of Houston-based Spur Energy Partners LLC for $925 million as part of efforts to streamline its portfolio.

Crescent Point to sell Uinta Basin, Saskatchewan assets for C$912M

Crescent Point Energy Corp. entered into agreements to sell all of its Uinta Basin assets and some of its southeast Saskatchewan conventional assets for approximately C$912 million in cash.

Major Callon shareholder comes out against 'value-destructive' Carrizo deal

Shares of Callon Petroleum Co. were up sharply on news one of the company's largest shareholders has come out in opposition to its planned acquisition of Carrizo Oil & Gas Inc., suggesting instead that Callon itself should be up for sale.

New Jersey Resources to buy Gulf Coast natural gas storage facility for $367.5M

New Jersey Resources Corp. unit NJR Midstream struck a deal to buy the Leaf River Energy Center LLC, a natural gas storage facility in southeastern Mississippi, from Macquarie Infrastructure Partners Inc. for $367.5 million.

W&T Offshore closes deal to buy eastern Gulf of Mexico assets from Exxon Mobil

W&T Offshore Inc. closed its acquisition of interests in and operatorship of oil and gas producing properties in the Gulf of Mexico from Exxon Mobil Corp. for $167.6 million in cash.

Report: Exxon signs exclusivity deal with Var Energi on possible sale in Norway

Exxon Mobil Corp. signed an exclusivity deal with Eni SpA subsidiary Vår Energi AS on a potential sale of the oil major's upstream assets in Norway.

Report: EDP to shortlist bidders for €2B Portuguese hydro portfolio

EDP - Energias de Portugal SA is set to shortlist five or six groups in the final round of bidding for a circa 2-GW portfolio of Portuguese hydro assets valued at more than €2 billion.

Parkland Fuel to acquire Tropic Oil Company

Parkland Fuel Corp.'s U.S.-based subsidiaries, collectively known as Parkland Fuel Corp., agreed to acquire all issued and outstanding equity interests of Tropic Oil Company, Inc. for an undisclosed amount

Aramco inks preliminary agreement with China's Zhejiang Free Trade Zone

State-owned oil giant Saudi Arabian Oil Co., or Saudi Aramco, signed a memorandum of understanding with the Zhejiang Free Trade Zone in Zhoushan City, Zhejiang province, China.

SSE to sell North Sea gas production assets

U.K.-based SSE PLC is selling its 140 MMcf/d portfolio of gas production assets in the North Sea, which are valued at about $1 billion.

Southcross gets bankruptcy court approval to sell Texas gas pipelines for $76M

Southcross Energy Partners LP, which filed for Chapter 11 bankruptcy protection earlier this year, agreed to sell certain natural gas pipeline assets in Texas to a Kinder Morgan Inc. subsidiary for $76 million in cash.

Report: Italy's Snam to buy 33% stake in Energy Transfer's Rover pipeline

The Italian natural gas pipeline operator Snam SpA is looking to buy a stake in Energy Transfer LP's 3.25-Bcf/d Rover natural gas pipeline as it seeks to expand its footprint outside of Europe.

Total SA signs on as Freeport LNG project customer after Toshiba deal closing

TOTAL SA closed its acquisition of Toshiba Corp. subsidiary Toshiba America LNG Corp., allowing the French oil major to become a customer of the Freeport LNG Development LP export terminal on Quintana Island in Texas.

Petrobras launches binding phase to sell stakes in 27 onshore fields

State-owned Petróleo Brasileiro SA - Petrobras started the binding phase in the process of divesting its stakes in 27 onshore fields, called the Cricaré Cluster, in Brazil.

2nd activist puts pressure on Gulfport Energy to stem stock's slide

A small North Carolina investment adviser is pressuring Gulfport Energy Corp. to cut spending and sell some assets to finance the quick buyback of 30 million shares, about $80 million at current prices.

ADNOC closes $600M pipeline deal with Singapore's GIC

State-owned Abu Dhabi National Oil Co., or ADNOC, on Sept. 4 closed a $600 million pipeline infrastructure investment agreement with Singapore's sovereign wealth fund GIC Pte. Ltd.

Coal M&A

Rhino Resource Partners to sell some Illinois Basin coal assets to Alliance

Rhino Resource Partners LP said Sept. 6 that it agreed to sell some of its assets relating to the Pennyrile mining complex to a subsidiary of Alliance Resource Partners LP.

Rio Tinto unit cancels right to buy back 51% of Bowen's Hillalong coal project

Bowen Coking Coal Ltd. said Sept. 4 that it has agreed with Rio Tinto Exploration Pty. Ltd. to amend the original purchase agreement by terminating the right of the Rio Tinto unit to buy back 51% of the Hillalong East coking coal project, which is composed of EPC 2141, 1860 and 1824, in Queensland, Australia.

Rio Tinto in dispute with Liberty House over residual Dunkerque sale payments

Rio Tinto filed an arbitration case against GFG Alliance Ltd.'s Liberty House Ltd. over US$50 million in unsettled final payments related to the US$500 million sale of the Dunkerque aluminum smelter in France.