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Occidental faces backlash on Anadarko deal; Royal Energy evaluating coal buys

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Occidental faces backlash on Anadarko deal; Royal Energy evaluating coal buys

Natural gas/Oil M&A

New Occidental faces hostile audience after closing Anadarko deal

Occidental Petroleum Corp. closed on what ended up being a $55 billion acquisition of Anadarko Petroleum Corp., which has made Occidental CEO Vicki Hollub, the company's board of directors and Anadarko shareholders very happy.

Saudi Aramco seeks earnings diversification through Reliance downstream stake

Saudi Arabian Oil Co.'s proposed US$15 billion investment in Reliance Industries Ltd.'s downstream oil business will allow the world's largest oil producer to secure a market for its crude oil production while mitigating its exposure to a volatile crude oil market.

UGI, AmeriGas Partners set merger election deadline, closing date

UGI Corp. and propane retailer AmeriGas Partners LP set the deadline for election of unit holders' preferred consideration and the completion date of their cash-and-stock simplification merger.

Report: Ithaca Energy in the running to buy North Sea assets from Exxon

Exploration and production company Ithaca Energy Ltd. is reportedly in the running to buy nonoperated oil and gas assets in the North Sea from U.S. supermajor Exxon Mobil Corp. for as much as $2 billion, The Guardian reported.

Petrobras to divest 11 shallow-water fields in Brazil's Campos Basin

State-owned oil giant Petróleo Brasileiro SA, more commonly known as Petrobras, began the teaser stage to sell its interests in 11 producing shallow-water fields called the Garoupa cluster in Brazil's Campos Basin and production facilities and pipelines to Barra do Furado, according to a securities filing.

Martin Midstream Partners sells East Texas Pipeline for $17.5M

Martin Midstream Partners LP divested its East Texas Pipeline to an unnamed buyer for about $17.5 million. Ruben Martin III, president and CEO of Martin Midstream's general partner, said in a release that the pipeline has been idle since September 2018.

Coal M&A

Royal Energy says it is evaluating a number of coal acquisitions

Royal Energy Resources Inc. is evaluating "a number of possible acquisitions of operating coal mines and non-operating coal assets," the company reported in a securities filing.

Jindal Steel selling Botswanan coal mine for US$150M; fiscal Q1'20 earnings fall

Jindal Steel & Power Ltd. agreed to sell its Mmamabula coalfields in Botswana for about US$150 million to Maatla Energy Ltd. and plans to use proceeds to cut debt, India's Business Standard reported, citing emailed correspondence with the company and a regulatory filing.