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Shell Midstream closes $825M drop-down deal; 2 Colo. producers to form E&P firm

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Shell Midstream closes $825M drop-down deal; 2 Colo. producers to form E&P firm

Natural gas/Oil M&A

Shell Midstream completes $825M drop-down deal for terminal, pipeline assets

Shell Midstream Partners LP and its Shell Midstream Operating LLC subsidiary completed the acquisition of terminal and pipeline assets through an $825 million drop-down transaction with Royal Dutch Shell plc subsidiaries.

2 Colo. producers merging in $649M deal to form DJ Basin-focused E&P company

The oil and gas exploration and production company Bill Barrett Corp. agreed to a merger with fellow Denver-based producer Fifth Creek Energy Co. LLC in a deal valued at about $649 million.

Noble Energy gains permission to negotiate potential buy out with CONSOL parties

Noble Energy Inc. has gained permission to discuss and negotiate a potential sale of its 50% stake in CONE Gathering LLC or interest in CONE Midstream Partners LP to CNX Gas Co. LLC and its affiliates, known collectively as the CONSOL Energy Inc. parties.

LINN Energy closes $285M Williston Basin asset sale

LINN Energy Inc. closed its divestiture of Williston Basin assets to the Oklahoma-based exploration and production company Valorem Energy LLC for $285 million.

Oaktree Capital Management funds to acquire NAPEC in C$320M deal

Funds managed by Oaktree Capital Management LP have agreed to acquire all of the issued and outstanding common shares of NAPEC Inc. for C$1.95 in cash per share.

Alaska agency approves $60M sale of Fairbanks gas utility

The Alaska Industrial Development and Export Authority unanimously voted to approve its $60 million sale of Pentex Alaska Natural Gas Co. LLC to the Interior Gas Utility of Fairbanks, Alaska.

ArcLight-backed oil, gas firm to buy San Juan Basin assets from WPX

Logos Resources II LLC, backed by the private equity firm ArcLight Capital Partners LLC, agreed to acquire WPX Energy Inc.'s legacy gas properties and undeveloped Mancos Shale acreage in the San Juan Basin.

Texas producer to expand Delaware Basin position with Resource Rock deal

The oil and gas producer startup Chisholm Energy Holdings LLC agreed to acquire undeveloped acreage in the New Mexico Delaware Basin from Resource Rock Exploration LLC for an undisclosed sum.

CorEnergy acquiring nearly 19% stake in Pinedale pipeline system

CorEnergy Infrastructure Trust Inc. agreed to acquire for $32.8 million Prudential Insurance Co. of America's 18.95% stake in Pinedale Liquids Gathering System.