Natural gas/Oil M&A
Colo. drillers PDC Energy, SRC Energy to merge in $1.7B deal
PDC Energy Inc. agreed to merge with fellow Colorado-based oil and gas driller SRC Energy Inc. in an all-stock deal worth about US$1.7 billion, creating the second-largest producer operating in the DJ Basin.
UGI closes simplification merger with AmeriGas Partners
UGI Corp. on Aug. 21 closed on its deal to buy the roughly 69.2 million common units of propane retailer AmeriGas Partners LP that UGI did not already own, completing the cash-and-stock simplification merger between the companies.
As Kinder Morgan exits Canada, rival midstream operator sees opportunity
Almost 14 years after Rich Kinder made his first big buy in Canada, the Texas midstream magnate is ready to close the book on a profitable foray into the north.
Shell electrification plan expands to Australia with 'good fit' ERM Power deal
Royal Dutch Shell PLC's move into the Australian power market is seen as a "good fit" that will allow the Anglo-Dutch major to advance its plan toward decarbonization and electrification, analysts said Aug. 22.
Frontline to acquire 10 Suezmax tankers from Trafigura in cash-and-stock deal
Frontline Ltd. struck a deal with commodities trader Trafigura Pte. Ltd. subsidiary Trafigura Maritime Logistics Pte. Ltd. to acquire 10 Suezmax tankers in exchange for a stake in Frontline and cash consideration.
Report: Petrobras obtains 3 binding offers for Liquigas Distribuidora
Brazilian state-owned oil major Petróleo Brasileiro SA obtained three binding offers for its Liquigás Distribuidora SA unit Aug. 16, Reuters reported, citing two sources.
World Fuel Services to acquire fuel unit of aviation management services firm
A subsidiary of World Fuel Services Corp. entered into an agreement to acquire UVair, the fuel business of Universal Weather and Aviation Inc., for about US$170 million, according to a news release from the Miami-based company. The transaction is expected to be completed by the end of 2019.
Motiva Enterprises to acquire Port Arthur chemical plant
Saudi Arabian Oil Co. subsidiary Motiva Enterprises LLC signed an agreement with an affiliate of Flint Hills Resources LLC to acquire Flint Hills Resources Port Arthur LLC, according to a news release from the Aramco unit. The company to be acquired operates a chemical plant.
Shell sells entire stake in Indian gas distributor Mahanagar Gas
Royal Dutch Shell PLC sold its remaining stake in Indian natural gas distribution company Mahanagar Gas Ltd. as part of its ongoing portfolio optimization strategy.
Helmerich & Payne unit acquires drilling software, services provider DrillScan
Helmerich & Payne Inc. unit Helmerich & Payne Technologies LLC acquired oil and gas services provider DrillScan, according to a news release. No terms were disclosed.
Coal M&A
Rhino enters agreement with Blackjewel to purchase 3 Va. coal mines
A subsidiary of Rhino Energy LLC entered into an agreement with Blackjewel LLC to purchase three underground coal mines in Virginia, according to a filing by Rhino Resource Partners LP.
Wesfarmers drops A$1.5B takeover bid for rare earths producer Lynas
Wesfarmers Ltd. no longer intends to pursue a takeover of Lynas Corp. Ltd., it said Aug. 22. In late March, the coal mining-to-retail giant introduced a nonbinding indicative proposal to acquire Lynas for A$1.5 billion in cash.
PTT unit acquires Indonesian coal mining companies
PTT Global Management Co. Ltd. subsidiary Sakari Resources Ltd. acquired 100% of the common shares of Indonesian coal mining companies PT Sentika Mitra Persada and PT Multiara Kapuas for about US$11.7 million.
