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Hess Midstream to buy Hess Infrastructure; Citizen Energy to buy Roan Resources

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Next in Tech | Episode 49: Carbon reduction in cloud

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Using ESG Analysis to Support a Sustainable Future

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US utility commissioners: Who they are and how they impact regulation

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Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Hess Midstream to buy Hess Infrastructure; Citizen Energy to buy Roan Resources

Oil and Gas M&A

Hess Midstream's corporate reorganization is 'compromise,' analysts say

While Hess Midstream Partners LP's reorganization sets a solid example for other pipeline companies under pressure to eliminate required payments to their general partners, some midstream analysts said the structure does not completely resolve the corporate governance issues that deter investors from buying into master limited partnerships.

Houston crude terminal pushed Energy Transfer to outbid competitors for SemGroup

Energy Transfer LP's bid to buy midstream crude oil operator SemGroup Corp. at a 65% premium beat out proposals from about 10 other suitors that included public and private energy infrastructure companies, an Oct. 3 SEC filing revealed.

Report: ADNOC eyes bidders for $5B gas pipeline lease deal

Abu Dhabi National Oil Co. started the formal process to sell a minority stake in its natural gas pipelines, which could bring in about $5 billion, Bloomberg reported Oct. 3, citing people with knowledge of the matter.

Warburg Pincus affiliate to snap up Roan Resources in $1B deal

Warburg Pincus LLC affiliate Citizen Energy Operating LLC agreed to acquire Anadarko Basin-focused Roan Resources Inc. in an all-cash deal valued at about $1.0 billion, including the assumption of the oil and gas company's funded net debt of roughly $780 million.

Report: Occidental delays plan to sell Western Midstream stake to 2020

Occidental Petroleum Corp. pushed back its plan to off-load an interest in Western Midstream Partners LP until 2020 due to a decline in the pipeline company's market value, Reuters reported Oct. 4, citing people familiar with the matter.

NGL Energy Partners closes sale of refined products assets for $275.5M

NGL Energy Partners LP closed its previously announced deal to sell TransMontaigne Product Services LLC and its associated assets to an unnamed buyer for $275.5 million.

Husky Energy strikes deal to sell oil refinery to Tidewater Midstream for C$215M

Husky Energy Inc. entered into an agreement with Tidewater Midstream & Infrastructure Ltd. to sell its Prince George refinery for C$215 million and a contingent payment of up to C$60 million over two years, according to an Oct. 4 news release.

Report: Chevron acquires 40% stake in 3 blocks offshore Mexico from Shell unit

Oil major Chevron Corp. signed an agreement to buy a 40% stake in three offshore deepwater blocks in Mexico from an unnamed subsidiary of fellow major Royal Dutch Shell PLC for an undisclosed amount, Reuters reported Oct. 4.

Contango Oil strikes deal to purchase Okla. assets from White Star for $132.5M

Contango Oil & Gas Co. entered into an asset purchase and sale agreement with White Star Petroleum LLC, White Star Petroleum II LLC, White Star Petroleum Operating LLC, White Star Petroleum Holdings LLC and WSP Finance Corp. to acquire certain assets and liabilities for about $132.5 million.

Petrobras begins nonbinding phase to sell Gabriel Passos Refinery in Brazil

State-owned Petróleo Brasileiro SA - Petrobras started the nonbinding phase to sell its Gabriel Passos Refinery in the Brazilian state of Minas Gerais along with the associated logistics assets, according to an Oct. 4 news release.

Petrobras closes transfer of shares in Uruguayan natural gas distributors

Petrobras subsidiary Petrobras Uruguay Sociedad Anónima de Inversiones SA finished returning the shares it held in Distribuidora de Gás Montevideo SA and Conecta SA to the Uruguayan government.

Petrobras to sell onshore fields in Potiguar Basin for $7.2M

Petrobras signed an agreement to divest its stakes in the onshore Ponta do Mel and Redonda fields in the Brazilian state of Rio Grande do Norte to oil and gas operator Central Resources do Brasil Producão de Petróleo Ltda. for $7.2 million.

Petrobras to divest 8 onshore exploratory blocks in Brazil

Petrobras plans to sell its stakes in eight exploratory blocks in the Recôncavo Basin in the Brazilian state of Bahia.

Inpex sells stake in Brazil's Frade oil field

Inpex Corp. said it sold its stake in Brazil's Frade oil field to Petro Rio SA through affiliate INPEX Offshore North Campos Ltd.

Abraxas Petroleum to sell assets in South, West Texas for about $7.9M

San Antonio-based Abraxas Petroleum Corp. signed agreements with an undisclosed buyer for the sale of its remaining South Texas assets and nonoperated acreage position in Reeves County in West Texas for about $7.9 million.

Parkland Fuel closes acquisition of Tropic Oil

Parkland Fuel Corp.'s U.S.-based subsidiaries, collectively known as Parkland USA, completed the acquisition of Tropic Oil Co. Inc. as well as equity interests and the assets of certain of its affiliates for an undisclosed amount, according to an Oct. 1 news release.

Subsea 7 takes over technology provider 4Subsea in all-stock deal

Subsea 7 SA acquired a 100% stake in Norwegian subsea technology and services provider 4Subsea AS in an all-stock transaction.

Coal M&A

Court approves sale of Cloud Peak mines to Navajo Nation company

Bankrupt coal operator Cloud Peak Energy Inc. obtained approval from the U.S. Bankruptcy Court for the District of Delaware to sell substantially all of its assets.

Report: Mechel to buy Gazprombank's 34% Elga coal project stake for 30B rubles

Russia's Mechel PAO will reportedly pay about 30 billion rubles for Gazprombank OJSC's 34% interest in the Elga coking coal project in Russia, Reuters reported Oct. 3, citing two sources familiar with the matter.