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Yancoal said to pursue Anglo American mine; Baker Hughes/Halliburton deal nixed

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Yancoal said to pursue Anglo American mine; Baker Hughes/Halliburton deal nixed

Coal M&A news

Yancoal vying for Anglo American's A$1B Moranbah coal mine

Yancoal AustraliaLtd. is vying to acquire AngloAmerican Plc's A$1 billion Moranbah coal mine in Queensland, Australia,competing with Glencore Plcand BHP Billiton Groupfor the asset, The Australian reportedApril 25, citing sources.

Allegiance: JOGMEC pulls out from Kilmain coal JV in Australia

Allegiance CoalLtd. said April 27 that JOGMEChas withdrawn from the Kilmain coal joint venture in Queensland, Australia, afterspending over A$2 million on the coal project by the end of the quarter.


Natural gas/midstreamM&A news

Halliburton, Baker Hughes terminate merger deal

Halliburton Co.will pay a $3.5 billion termination fee to BakerHughes Inc. after the companies ended their pursuit of a merger valuedat $34.6 billion. "This was an extremely complex, global transaction and, ultimately,a solution could not be found to satisfy the antitrust concerns of regulators, bothin the U.S. and abroad," Baker Hughes Chairman and CEO Martin Craighead said.

Analysts ponder Con Edison's motivation behind Crestwood JV

Consolidated EdisonInc.'s decision to investin a joint pipeline and storage venture with Crestwood Equity Partners LP has piqued the interest of someWall Street analysts seeking clarity on the deal's value. Stagecoach Gas Services LLC will own and developCrestwood's pipeline and storage business in the Marcellus Shale region of northernPennsylvania and southern New York.

Memorial Production Partners to acquire general partner, become a standaloneentity

Memorial ProductionPartners has agreed to acquireMemorial Production Partners GP LLCfrom Memorial Resource Development Corp. for $750,000 in cash, resulting in thepartnership becoming a standalone entity. Memorial Production Partners GP holdsthe general partner interest and 50% of the incentive distribution rights in MemorialProduction Partners.

Tallgrass MLP lined up for 25% stake in Rockies Express after Sempraexit

The private partnership behind Tallgrass Energy Partners LP has offered it a $440 millionstake in Rockies Express PipelineLLC that it agreed to purchase from Sempra Energy. The pipeline is battling to hold on to revenueand shippers struggling with the low-price environment and has filed a lawsuit seeking$303 million from the Rockies producer UltraPetroleum Corp., which earlier defaulted on payments.

Sempra deal in line with long-term growth strategy, Laclede Group says

The Laclede GroupInc.'s $344 million acquisitionof EnergySouth Inc. fromSempra Energy subsidiary Sempra U.S.Gas & Power LLC aligns with the St. Louis-based company's strategyof adding customers around its existing footprint while growing earnings and cashflow, its CEO said.

PBF Logistics closes $100M refined product terminals acquisition fromPlains All American

PBF Logistics LP'ssubsidiary has completed the acquisitionof four refined product terminals from an affiliate of Plains All American Pipeline LP for a cash considerationof about $100 million. The Philadelphia terminals serve as a link to the roughly1.3 million barrels per day of refining capacity located within 100 miles of theterminals and related downstream demand.

American Midstream acquires 66.7% stake in Gulf of Mexico gathering system

American MidstreamPartners LP has acquireda 66.7% stake in the Okeanos pipeline from an affiliate of its general partner tocomplement its existing offshore infrastructure. The Okeanos pipeline has totalcapacity of 1.0 Bcf/d and connects two platforms and one lateral, terminating atthe Destin Main Pass 260 platform in the Mississippi Canyon region of the Gulf ofMexico.