Natural gas/midstream M&A
Staff of Va. utility regulator uses WGL/AltaGas merger to push safety changes
Safety program improvements should be part of the deal if the Virginia State Corporation Commission decides to approve AltaGas Ltd.'s proposed acquisition of WGL Holdings Inc. The staff recommendation appeared aimed at preventing these types of work-stopping issues.
Carrizo closes $648M Delaware Basin acreage buy
Carrizo Oil & Gas Inc. closed its acquisition of Delaware Basin acreage from ExL Petroleum Management LLC and ExL Petroleum Operating Inc. for about $648 million in cash. The consideration includes a $75.0 million performance deposit already paid by Carrizo.
Holly Energy Partners to buy remaining interest in 2 Plains oil pipes for $250M
Holly Energy Partners LP is set to acquire the remaining interest in Plains All American Pipeline LP affiliates Frontier Aspen LLC and SLC Pipeline LLC that it does not yet own in two deals worth $250 million. The Frontier Aspen pipeline is a 289-mile crude pipeline from Casper, Wyo., to Frontier Station, Utah.
Titan closes sale of 25% stake in Chevron-operated Colo. field
Titan Energy LLC closed the sale of its 25% nonoperated interest in the Chevron Corp.-operated Rangely Field in Colorado for $105 million. Rangely Field is a CO2 flood in Rio Blanco County, Colo. Titan plans to use proceeds from the sale to repay debt under its first-lien credit facility.
Tallgrass Midstream acquires Powder River Basin crude gathering system
Tallgrass Midstream LLC closed its acquisition of Outrigger Energy LLC's crude oil-gathering system in the Powder River Basin for about $36 million. Under the deal, the Tallgrass Energy Partners LP subsidiary purchased about 34 miles of gathering lines and about 150,000 acres dedicated on a long-term, fee-based contract.
Ferrellgas acquires 2 propane retailers in Tennessee
Ferrellgas Partners LP acquired two propane retailers in central and eastern Tennessee, Lindsey Propane and Sevier County Propane. The partnership did not disclose financial details of the deal. Lindsey Propane is a local provider in Williamsport, Tenn.
Peninsula Energy acquires midstream marketing assets in Pennsylvania
Peninsula Energy Services Co. acquired certain commercial and industrial marketing assets in western Pennsylvania from ARM Energy Management LLC for an undisclosed amount. The acquisition complements the Chesapeake Utilities Corp. subsidiary's existing portfolio.