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ArcLight to acquire American Midstream; Denbury, Penn Virginia terminate merger


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ArcLight to acquire American Midstream; Denbury, Penn Virginia terminate merger

ArcLight affiliate to acquire American Midstream in all-cash merger deal

An affiliate of ArcLight Energy Partners Fund V LP struck a definitive merger deal to buy all of American Midstream Partners LP's outstanding common units not already held by its affiliates for $5.25 per unit.

Report: Nigeria to sell stake in JVs with Shell, Chevron, Exxon

Nigeria is planning to reduce its stakes to 40% in its joint ventures with several multinational oil companies in 2019, Reuters reported, citing Budget Minister Udoma Udo Udoma.

Murphy Oil eyes North American buying opportunities after Malaysia divestiture

Murphy Oil Corp. will likely use some of the proceeds from the newly announced $2.13 billion divestiture of its Malaysian assets to support aspirations to expand its North American presence on land and offshore.

Denbury, Penn Virginia terminate $1.7B merger deal

Denbury Resources Inc. and Penn Virginia Corp. agreed to terminate their $1.7 billion merger transaction, citing challenging market conditions and opposition from certain Penn Virginia shareholders.

Tenaris to acquire US-based IPSCO Tubulars for $1.2B

Luxembourg's Tenaris SA announced it will acquire PAO TMK's Texas-based IPSCO Tubulars Inc. for $1.2 billion.

Report: Equinor looking to sell US Eagle Ford Shale operations

Norway's Equinor ASA may sell all or some of its Eagle Ford Shale operations in South Texas as the major turns its focus to its other assets in the U.S., Bloomberg News reported, citing several unnamed sources.

EQM Midstream to sell another $100M of preferred units for Appalachian pipe deal

EQM Midstream Partners LP agreed to sell another 2,050,440 of series A perpetual convertible preferred units, adding to its $1.10 billion sale of the same units to fund its $1.03 billion ownership acquisition of two Appalachian Basin natural gas gathering pipelines.

Report: PetroReconcavo in talks to buy 34 onshore fields from Petrobras

Petroreconcavo SA started direct negotiations with Brazilian state-owned oil company Petróleo Brasileiro SA - Petrobras to buy 34 onshore fields in northeastern Brazil, Reuters reported, citing two oil industry sources.

Uniper sheds stake in offshore regasification terminal

Uniper SE said it concluded an agreement to sell its 48.2% interest in OLT Offshore LNG Toscana SpA to First State Investments for about €400 million, subject to adjustments.

Report: Saipem's push to form joint venture with US drillers falls flat

Italian oil and gas services provider Saipem SpA failed in its efforts to push for a joint venture with U.S. drillers, Reuters reported, citing unnamed sources.

Report: Carrizo, SM Energy considering possible merger

Carrizo Oil & Gas Inc. and SM Energy Co. held early-stage discussions about a possible combination of the two companies, Bloomberg reported March 18, citing people familiar with the matter.

KLX Energy closes Red Bone, Tecton acquisitions for $82M

Onshore oilfield services provider KLX Energy Services Holdings Inc. said it completed the acquisitions of fellow oilfield services providers Red Bone Services LLC and Tecton Energy Services Ltd. for about $82 million.

Precision Drilling sells 5 drilling rigs in Mexico for $48M

Calgary, Alberta-based Precision Drilling Corp. said it will sell five Mexico-based drilling rigs and ancillary equipment for $48 million.

Coal M&A news

Major Riversdale shareholder rejects Gina Rinehart's A$591M takeover offer

Private equity firm Resource Capital Fund, which owns 48% of coking coal developer Riversdale Resources Ltd., rejected an offer from Gina Rinehart's Hancock Prospecting Pty. Ltd. to fully acquire the company but left the door open for a higher offer, The Australian Financial Review reported.