Oil and Gas M&A
Ditching discipline, Energy Transfer to pay big premium for export assets
Roughly three years after blowing up a $33 billion deal to buy pipeline peer Williams Cos. Inc., billionaire master limited partnership builder and Energy Transfer LP CEO Kelcy Warren has landed another deal.
McDermott explores sale of Lummus Technology business after takeover bids
McDermott International Inc. received unsolicited offers for all or part of technology business Lummus Technology LLC, which could value the subsidiary at more than $2.5 billion.
Shell closes $631M stake sale in refining JV with Saudi Aramco
Royal Dutch Shell PLC subsidiary Shell Saudi Arabia (Refining) Ltd. completed the $631 million sale of its 50% stake in Saudi Aramco Shell Refinery Co. to joint venture partner Saudi Arabian Oil Co.
Exxon's stake sale in Gippsland Basin assets expected to attract few buyers
Exxon Mobil Corp.'s potential sale of its 50% stake in the aging Gippsland Basin oil and gas development in Australia's Bass Strait is expected to attract few buyers, according to Wood Mackenzie research director Angus Rodger.
Investment firms including Blackstone Group Inc. and Apollo Global Management Inc. are considering bidding to acquire a majority stake in Western Midstream Partners LP from Occidental Petroleum Corp., Bloomberg News reported, citing people familiar with the matter.
Talos inks 2 agreements with BP, Exxon to explore Gulf of Mexico
Houston-based oil and gas producer Talos Energy Inc. signed separate agreements with oil majors BP PLC and Exxon Mobil on exploration opportunities in the U.S. Gulf of Mexico.
Petrofac to exit Mexico with stake sale
Oilfield services company Petrofac Ltd. will end its operations in Mexico after the sale of its remaining 51% stake to partner Perenco (Oil & Gas) International Ltd. for up to $276 million.
Petrobras launches teasers to divest 2 onshore fields, 4 refineries
State-owned oil company Petróleo Brasileiro SA teased a sale of its stakes in two onshore concessions, as well as outflow facilities, called the Cupiúba and Carapanaúba Cluster in the Brazilian state of Amazonas, according to a securities filing.
Frontline will not acquire more tankers from Trafigura as options lapse
Frontline Ltd. said its options expired to acquire four more Suezmax tankers from Trafigura Pte. Ltd. subsidiary Trafigura Maritime Logistics Pte Ltd.
Harvest Oil & Gas closes sales of Barnett Shale, Midcontinent assets
Harvest Oil & Gas Corp. completed the sales of its Barnett Shale assets and certain Midcontinent-area properties for $68.9 million.
Southcross to divest gas pipelines for $31.5M in bankruptcy proceedings
Southcross Energy Partners LP, which filed for Chapter 11 bankruptcy protection, is selling certain natural gas pipeline networks in Alabama and Mississippi for $31.5 million in cash.
Coal M&A
Contura announces agreement to transfer Powder River Basin mines to FM Coal affiliate
Contura Energy Inc. announced Sept. 18 that it entered into an agreement with an affiliate of FM Coal LLC that is interested in acquiring and operating the Eagle Butte and Belle Ayr coal mines in the Powder River Basin, a deal that may release Contura from all bonding, reclamation and operational liabilities pertaining to the mines.
Exxaro consolidates interest in renewable energy JV in 1.55B rand deal
Coal and heavy minerals miner Exxaro Resources Ltd. purchased the remaining 50% interest in a renewable energy joint venture with The Tata Power Co. Ltd. in a 1.55 billion South African rand deal.
Paringa looks to plug funding gap amid slower ramp-up at Ky. coal mine
Paringa Resources Ltd. is looking to raise cash to fund the ramp-up to positive cashflow at its Poplar Grove coal mine, part of the Buck Creek Complex in western Kentucky.
Report: Sasol plans sale of South African coal mining business in coming weeks
Sasol Ltd. plans to start a formal sales process for its South African coal mining business in the coming weeks, Bloomberg News reported, citing people familiar with the matter.
