Coal
Whitehaven Coal to acquire remaining 25% stake in Winchester South mine
Whitehaven Coal Ltd. said May 24 that it has signed a deal to acquire the remaining 25% stake in the Winchester South coal development project in Queensland, Australia, after it agreed in March to pay US$200 million for acquisition of a 75% interest in the project from Rio Tinto.
Report: EMR Capital looking to reduce exposure to UK coal asset
EMR Capital is said to be marketing its hard coking coal asset West Cumbria Mining Ltd. in the U.K. to potential investors. The private equity firm would consider equity and debt financing options as it looks to advance the asset into production in the near term.
Pan Asia's takeover target placed in voluntary administration
Pan Asia Corp. Ltd. takeover target New Emerald Coal Pty. Ltd. was placed into voluntary administration and a receiver was appointed May 21 by a secured creditor, which intends to proceed to a deed of company arrangement, or DOCA.
Natural gas/midstream M&A
Australian LNG exporter Santos rejects $10.8B bid from Harbour Energy
Australian oil and gas producer Santos Ltd. rejected a $10.8 billion takeover offer from private-equity-backed Harbour Energy Ltd. amid rising oil prices.
Icahn teams with protege to explore takeover of Permian driller Energen
Activist investor Carl Icahn and his former pupil Keith Meister of Corvex Management LP are teaming up for a potential takeover of Permian Basin driller Energen Corp.
2nd investor questions timing of Loews' warning of possible Boardwalk MLP buyout
A second large investor joined the call for Boardwalk Pipeline Partners LP sponsor Loews Corp. to make a decision soon to exercise its right to buy out Boardwalk's limited partners, accusing Loews of stalling after announcing a possible buyout to get unit holders to bail out and keep any buyout price low.
EQT Midstream completes $1.69B drop-down of Ohio gathering assets
EQT Midstream Partners LP on May 22 closed its deal to acquire midstream assets from EQT Corp., as well as Gulfport Energy Corp.'s 25% stake in the Strike Force Midstream LLC gathering system, for a total deal value of $1.69 billion.
Dallas private equity firm to acquire MLP index provider Alerian
The Dallas-based private equity firm Aretex Capital Partners has a deal to buy U.S. energy infrastructure index and data provider Alerian for an undisclosed amount after a Hong Kong-based competitor's bid of as much as $812 million failed to gain traction.
Cimarex to sell West Texas oil, gas assets for $570M to Callon Petroleum
Cimarex Energy Co. agreed to sell oil and gas production assets located mainly in Ward County, Texas, to Callon Petroleum Operating Co. for $570 million.
Icahn hires former SandRidge president/COO as consultant for proxy contest
Activist investor Carl Icahn enlisted a former SandRidge Energy Inc. president and COO to serve as the consultant for a planned proxy contest to replace SandRidge's entire board of directors and evaluate strategic alternatives for the company.
Appalachian driller Rex Energy to begin asset sale process, files for Chapter 11
Independent Appalachian shale gas driller Rex Energy Corp. is looking to start up the sale process for its remaining assets as it initiates voluntary proceedings under Chapter 11 bankruptcy protection.
Canadian producer Iron Bridge says Velvet Energy's bid 'undervalues' company
The Calgary, Alberta-based producer Iron Bridge Resources Inc. responded to an all-cash proposal by Velvet Energy Ltd. to buy out all its outstanding common shares for C$120 million, saying that the offer "significantly undervalues" the company.
Apache commits 100% of Alpine High NGL production to Enterprise
Oil and gas producer Apache Corp. committed 100% of its natural gas liquids production in the emerging Alpine High play of the Delaware Basin to Enterprise Products Partners LP under a long-term agreement.
Keyera to acquire Okla. diluent logistics terminal for $90M
Keyera Corp. subsidiary Keyera Energy Inc. agreed to acquire a logistics and liquids blending terminal near Tulsa, Okla., for a total consideration of $90 million.
Delek US closes sale of west coast asphalt terminals to Andeavor
Delek US Holdings Inc. closed the sale of four asphalt terminals to an affiliate of Andeavor for a total consideration of $75 million, plus working capital.
Sanchez Midstream, Targa to expand South Texas gathering, processing JV
Sanchez Midstream Partners LP and Targa Resources Corp. agreed to expand their gathering and processing joint venture in south Texas.
Total to acquire 10% interest in Arctic LNG 2 project in eastern Russia
French oil and gas major Total SA will acquire a 10% direct working interest in Arctic LNG 2, an LNG project led by Russian natural gas producer PAO NOVATEK.
Gazprom Neft sells 49% stake of subsidiary to Mubadala, RDIF
Russian oil producer PJSC Gazprom Neft said May 24 that it has signed an agreement to sell a 49% stake of its subsidiary Gazpromneft-Vostok LLC to United Arab Emirates-based Mubadala Petroleum LLC and the Russian Direct Investment Fund.
Total, Borealis and NOVA Chemicals close joint venture along US Gulf Coast
Total, Borealis AG and NOVA Chemicals Corp. said May 23 that they have closed a joint venture in petrochemicals on the U.S. Gulf Coast.
Weatherford considers selling one of its larger businesses by 2019 to cut debt
Weatherford International PLC may have to sell one of its larger businesses to cut debt as its revolver expires in 2019, the company's top executive said.
