FACTBOX: Deals on the Rise in US Oil and Gas Pipeline Sector
(Reuters) — Magellan Midstream Partners' unitholders on Thursday voted in favor of the U.S. pipeline operator's planned sale to larger peer ONEOK for $18.8 billion.
The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and new pipeline permitting problems have made existing operators more valuable.
Here are the major deals in the U.S. pipeline sector in 2023:
Target |
Acquirer |
Deal type |
Deal value (in USD) |
Blackstone |
Targa Resources |
Asset Acquisition |
$1.05 billion |
Lotus Midstream |
Energy Transfer |
M&A |
$1.45 billion |
Magellan Midstream Partners |
ONEOK |
M&A |
$18.8 billion |
Holly Energy Partners |
HF Sinclair |
M&A |
$1.44 billion |
Crestwood Equity Partners |
Energy Transfer |
M&A |
$7.1 billion |
Meritage Midstream Services II |
Western Midstream Partners |
M&A |
$885 million |
Related News
Related News
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
- Pipeline Hydro Test Pressure Determination
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Japan Looks at Developing Domestic Pipelines Sector
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
Comments