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Trump avoided coal in his stock portfolio; Chesapeake selling Haynesville assets

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Insight Weekly: Fed's policy stance; overdrafts under scrutiny; energy stocks rally

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Q1’21 U.S. Power Forecast

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Metals & Mining Insights May 2021

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European Energy Insights - May 2021


Trump avoided coal in his stock portfolio; Chesapeake selling Haynesville assets

Coal M&A

Glencore takes full control of Newlands, Collinsville coal mines in Queensland

Glencore Plc now has full control of its Newlands and Collinsville coal mines in Queensland, Australia, after acquiring Itochu Coal Resources Australia Pty Ltd's 35% interest and Sumisho Coal Australia Pty. Ltd.'s 10% interest, S&P Global Platts reported Dec. 5.

Report: Anglo American considering bundling South African asset sales

Anglo American Plc, which is seeking to offload its iron ore, coal and manganese operations in South Africa in a bid to reduce debt, is leaning toward grouping the assets into one listed entity instead of selling them off piecemeal, Bloomberg News reported Dec. 8, citing people familiar with the matter.

Gas/Midstream M&A

Trump avoided coal in his energy stock portfolio, favoring oil, gas majors

Donald Trump campaigned heavily in 2016 on bringing back coal companies and coal jobs, but he was not personally invested in a coal comeback: he owned no coal stocks, according to his May financial disclosure form. The president-elect's transition team on Dec. 6 said Trump sold all his stocks in June, but it provided no details.

Utilities find mixed bag in their efforts to acquire gas assets

Seeking to take advantage of cheap natural gas prices, a number of utility companies are looking to obtain their own gas reserves in order to keep a consistent source of low-price supply. The results have been mixed, however, as regulatory and legal roadblocks have stopped some of the utilities in their tracks.

First Reserve-backed company buying 3 oil, gas equipment companies

The First Reserve Corp. portfolio company Tri-Point LLC announced three acquisitions focused on oil and gas production, processing equipment and associated services, which are expected to provide complementary services across the upstream and midstream sector.

Chesapeake to bring 2016 divestitures to $2B with Haynesville asset sale

Chesapeake Energy Corp. agreed to sell 78,000 net acres in the Haynesville Shale for $450 million and intends to sell 50,000 more acres in 2017 as it continues to raise cash by shedding assets. Chesapeake said that once it sells the other 50,000 acres, it will retain approximately 250,000 acres in the core of the Haynesville.

American Midstream to offer $300M of senior notes for postmerger debt reduction

American Midstream Partners LP intends to offer $300 million of senior unsecured notes due 2021, with the proceeds arriving upon completion of the partnership's merger with JP Energy Partners LP. The money would be released from escrow at the closing of the merger, which is expected to occur in the first quarter of 2017, according a Dec. 7 news release.

Cheniere ends talks to acquire rest of MLP's holding company

Cheniere Energy Inc. ended talks to buy out the holding company that holds the majority stake in its master limited partnership after the companies were unable to agree to the terms of the acquisition. Cheniere shares were up about 1.7% in premarket trading as of 9 a.m. ET on Dec. 9, while Cheniere Holdings was up 3%.

Transocean completes acquisition of its rig operator

Transocean Ltd. completed the acquisition of its rig operator, Transocean Partners LLC, in an all-equity transaction. Transocean Partners unit holders get 1.2 Transocean shares for each Transocean Partners unit they own, Transocean said on Dec. 9. Transocean issued about 23.8 million shares for the transaction.

S&P Global Platts and S&P Global Market Intelligence are owned by S&P Global Inc.