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PennEnergy to buy Rex Energy assets; Kinder Morgan closes Trans Mountain sale

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


PennEnergy to buy Rex Energy assets; Kinder Morgan closes Trans Mountain sale

Coal

Report: Hancock Prospecting secures 19.9% stake in Riversdale Resources

Gina Rinehart's Hancock Prospecting Pty Ltd. secured a 19.9% stake in Riversdale Resources Ltd. after investing A$68.9 million in the Canada-focused coal explorer, The Australian Financial Review's Street Talk reported.

South32 taps Macquarie Capital to run South African coal assets sale

South32 Ltd. tapped Macquarie Capital for the sale process of its South African coal business, The Australian Financial Review reported.

Gulf Manganese secures cornerstone investor for Kupang smelter development

Gulf Manganese Corp. Ltd. said it secured an approximately A$10.8 million cornerstone investment from Indonesian businessman Low Tuck Kwong, founder and president of PT Bayan Resources Tbk., for developing its Kupang manganese smelting hub facility in Indonesia.

Natural gas/Oil

Appalachian producer PennEnergy to acquire Rex Energy's shale gas assets

The Appalachian Basin-focused driller PennEnergy Resources LLC agreed to buy out Rex Energy Corp. and all its shale gas assets for $600.5 million as part of its Chapter 11 bankruptcy proceedings.

Ontario board approves combination of Enbridge Gas, Union Gas utilities

The Ontario Energy Board allowed Enbridge Inc. utilities Enbridge Gas Distribution Inc. and Union Gas Ltd. to combine into a single utility serving a collective total of 3.7 million customers in the province.

Kinder Morgan unit, Canadian government close C$4.5B sale of Trans Mountain

Kinder Morgan Canada Ltd. closed its sale of the Trans Mountain oil pipeline system and the C$7.4 billion expansion project to the government of Canada for C$4.5 billion.

Par Pacific Holdings to acquire Hawaiian refining assets

Par Pacific Holdings Inc. announced that it agreed to acquire part of a Hawaiian refinery from Island Energy Services LLC for $45 million, which announced the same day its plans to cease refining operations.

Israeli energy group Delek sells stake in insurer Phoenix

Israeli oil and gas conglomerate Delek Group Ltd. sold a 4.9% stake in insurer Phoenix Holdings Ltd. for 253 million shekels to an unknown buyer, Reuters reported.

Total to sell stake in Indian LNG terminal, signs supply deal with Shell

French oil and gas major TOTAL SA said it has inked a binding letter of intent for the sale of its 26% minority stake in the Hazira LNG regasification terminal in India to Royal Dutch Shell PLC.

Petrofac to sell 20% stake in UK's Greater Stella Area to Ithaca Energy

U.K.-based Petrofac Ltd. signed an agreement to sell its 20% interest in the Greater Stella Area development in the North Sea to Ithaca Energy (UK) Ltd. for up to US$292 million.

Genesis Energy to sell Powder River Basin crude midstream assets for $300M

Genesis Energy LP agreed to sell its midstream assets in the Powder River Basin in Wyoming to an affiliate of Silver Creek Midstream LLC for about $300 million.

Parkland continues to expand in US, to buy Missouri Valley Petroleum

Canada-based Parkland Fuel Corp. is continuing to expand its business in the United States, with the company inking a deal to acquire North Dakota-based Missouri Valley Petroleum, Inc. and its affiliates.

Parkland Fuel completes acquisition of Rhinehart Oil Co.

Parkland Fuel Corp., through a U.S.-based subsidiary, completed the acquisition of Rhinehart Oil Co. Inc. and its affiliates. A purchase price was not disclosed.

CNX, Hess close Ohio Utica joint venture asset sales to Ascent Resources

CNX Resources Corp. and Hess Corp. closed the sales of their joint venture interests in Utica Shale holdings in Ohio to Ascent Resources' Ascent Resources - Utica LLC for about $400 million each.