Cliffs says coal asset buyer claiming it does not have $6M to pay
Cliffs Natural Resources Inc. is asking a judge to intervene in a dispute over $6 million with a conservationist who bought Cliffs' last coal mines. A Dec. 20 complaint said Seneca Coal Resources LLC, owned by conservationist and healthcare executive Tom Clarke, failed to comply with its post-closing bonding requirements and to pay Cliffs.
$5B Energy Transfer deal report sets off Wall Street speculators, sleuths
A report that the private equity giant Blackstone Group LP is looking to buy a multibillion-dollar stake in Energy Transfer Partners LP projects or assets sent analysts and stock traders to their tea leaves. The Wall Street Journal reported Dec. 22 that Blackstone was kicking some ETP tires, citing "people familiar with the matter."
Anadarko's Marcellus sale a $1.2B twist for buyer, a veteran shale land flipper
The private company paying $1.24 billion for Anadarko Petroleum Corp.'s northeast Marcellus Shale operations has a track record of finding, proving and flipping land in shales across the U.S. and Canada but had never bought into a developed field like this.
Chesapeake to sell more Haynesville assets as 2016 divestitures hit $2.5B
As part of its multibillion-dollar 2016 asset sale campaign, Chesapeake Energy Corp. struck an agreement to divest part of Haynesville Shale properties in northern Louisiana to a Covey Park Energy LLC affiliate for about $465 million.
Pair of EnLink divestitures to help fund Okla. build-out
EnLink Midstream Partners LP and EnLink Midstream LLC agreed to a pair of asset divestitures totaling $275 million in an effort to shore up their balance sheets and fund an expansion project to reinforce the companies' STACK play position in Oklahoma.
Infusion from giant Total to help fledgling Tellurian secure 1st LNG project
The massive balance sheet of Total SA should help Tellurian Investments when it comes time to nail down financing for the proposed 26-million-tonnes-per-annum Driftwood LNG liquefaction and export terminal, analysts said.
NuStar Energy closes acquisition of Texas crude terminaling assets
NuStar Energy LP completed its $93 million acquisition of crude oil and refined product terminal assets in Corpus Christi, Texas, from Martin Midstream Partners LP. The assets acquired includes a 25-acre expandable terminal with 1.15 million bbl of storage, 900,000 bbl of which is for crude oil and the rest for refined products.
Enbridge-Spectra merger moves forward with foreign investment body's approval
The Committee on Foreign Investment in the United States cleared the pending merger between Enbridge Inc. and Spectra Energy Corp., ticking off another condition for the deal to close. The companies received merger approval from shareholders in the previous week.
NGL Energy Partners to buy La., Okla. liquids assets from Murphy Energy
NGL Energy Partners LP got clearance from the U.S. Bankruptcy Court to buy NGL assets in Louisiana and Oklahoma from Murphy Energy Corp. for about $51 million. The assets include an NGL terminal in Port Hudson, La., and an NGL and condensate facility in Kingfisher, Okla., in the STACK play.