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BP selling Alaska business for $5.6B; Tallgrass receives take-private offer

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BP selling Alaska business for $5.6B; Tallgrass receives take-private offer

Natural gas/Oil M&A

BP to sell Alaska business to Hilcorp for $5.6B

Oil major BP PLC agreed to sell its entire business in Alaska to Hilcorp Energy Co. affiliate Hilcorp Alaska LLC for $5.6 billion.

PDC Energy's 'logical' move to acquire SRC Energy meets with approval

PDC Energy Inc.'s planned $1.7 billion all-stock acquisition of SRC Energy Inc. appears to have accomplished the increasingly rare feat of satisfying both industry analysts and shareholders.

Blackstone's infrastructure arm offers to buy out Tallgrass Energy

Tallgrass Energy LP received an offer from Blackstone Group Inc.'s infrastructure arm to take the energy midstream company private by acquiring its shares the private equity firm does not already own.

Report: Biggest trading, oil firms showing interest in Petrobras' refineries

Petróleo Brasileiro SA's sale of eight refineries attracted the biggest trading and oil companies as potential bidders, according to a report from Reuters, citing unnamed sources. The refineries have a total capacity of 1.1 million barrels per day.

Equinor completes swap of Lundin stake for interest in Johan Sverdrup

Equinor ASA completed the exchange of its 16% stake in Lundin Petroleum AB (publ) for a 2.6% interest in the Johan Sverdrup field and cash of around $650 million, according to a news release from the Norwegian company.

Total to sell stakes in South American, African blocks to Qatar Petroleum

TOTAL SA signed farm-in agreements with Qatar Petroleum for the sale of stakes in blocks located in Namibia, Guyana and Kenya.

Riviera Resources to sell remaining Hugoton Basin properties for $295M

Riviera Resources Inc. signed an agreement to divest its remaining interest in properties in the Hugoton Basin to an undisclosed buyer for $295 million, marking its exit from the basin.

Report: Biofuels producer proposes to purchase, convert Philadelphia refinery

Biofuels firm S.G. Preston Co. is interested in buying Philadelphia Energy Solutions LLC's refinery and converting a portion of the plant to produce renewable diesel, marine diesel and jet fuels, according to a report from Reuters, citing unnamed sources.

Retired PES founder forms firm to acquire shuttered refinery, business

Philadelphia Energy Solutions LLC retired founder, Chairman and CEO Philip Rinaldi has formed Philadelphia Energy Industries in order to pursue the acquisition of the shuttered 335,000-barrel-per-day Philadelphia refinery site and business that is currently under Chapter 11 bankruptcy proceedings.

Petrobras begins binding phase for sale of 8 onshore fields in Brazil

State-owned oil giant Petrobras started the binding phase of its plan to divest its stakes in eight onshore exploration and production concessions called the Rio Ventura cluster, according to a securities filing.

Petrobras starts binding phase for stake sale in natural gas processing firm

Petrobras said its subsidiary Petrobras International Braspetro BV commenced the binding phase for the sale of its stake in Argentine natural gas processing firm Compania MEGA (Project MEGA), according to a news release from the Brazilian company.

Petrobras names top bidder for LPG distribution unit

Petrobras said a consortium comprised of Itaúsa - Investimentos Itaú SA, Copagaz Distribuidora de Gás SA and Nacional Gás Butano Distribuidoda Ltda. presented the best binding offer for its liquefied petroleum gas distribution unit Liquigás Distribuidora SA.

Encana subsidiary completes C$165M sale of Arkoma Basin gas assets

Encana Corp. subsidiary Newfield Exploration Mid-Continent Inc. completed the divestment of its natural gas assets in the Arkoma Basin in Oklahoma to an unnamed buyer for C$165 million.

Saddlehorn to expand crude pipeline with commitment from Noble Midstream JV

Saddlehorn Pipeline Co. LLC is expanding the capacity of its crude oil pipeline in the DJ and Powder River basins to about 290,000 barrels per day after securing volume commitments during its open season in July.

Tullow forced to cancel deal to sell stake in Ugandan licenses to Total, CNOOC

A deal between TOTAL, Tullow Oil PLC and CNOOC Ltd. for Total and CNOOC to acquire additional stakes in Ugandan licenses will be terminated, Total and Tullow confirmed in separate news releases.

Report: Remaining shareholders of Spirit Energy looking to exit North Sea

The remaining shareholders of Spirit Energy Ltd. are planning to join majority owner Centrica PLC in selling their shares in the company, Reuters reported, citing four financial sources.

Report: PTT seeks oil exploration partnerships in Middle East

Thailand's PTT PCL is seeking oil exploration partnerships in the Middle East to boost supply for Asian markets, Bloomberg reported, citing CEO Chansin Treenuchagron.

Borr Drilling to sell 3 rigs for $9M

Bermuda-based Borr Drilling Ltd. entered into an agreement during the second quarter to sell three standard jack-up rigs for $9 million.

Home Treasure Finders to acquire Energy Hunter Resources

Denver-based real estate investor Home Treasure Finders Inc. entered into a stock purchase agreement with certain shareholders of Dallas-based oil and gas company Energy Hunter Resources Inc. in a deal set to close within the next 30 to 60 days.

Coal M&A

Bathurst to increase stake in Jameson's NWP Coal to 20% with C$7.5M investment

Bathurst Resources Ltd. has decided to increase its stake in NWP Coal Canada Ltd. to 20% from 8% by investing C$7.5 million to fund permitting and a bankable feasibility study on the Crown Mountain coal project in British Columbia.