Tag Archives: M&A

Plains All American Makes Leadership Change

Plains All American Pipeline, L.P. and Plains GP Holdings today announced Oscar K. Brown has been appointed by an affiliate of Occidental Petroleum Corporation to serve as its designated representative on the Board of Directors of PAA GP Holdings LLC, replacing Ben Figlock. The PAA GP Holdings Board has responsibility for managing the business and affairs of Plains All American Pipeline and Plains GP Holdings. “We are pleased to welcome Oscar to the Board and look forward to working with him,” said Greg L. Armstrong, Chairman of the Board and CEO of Plains All American Pipeline and […]

4 AM Midstream Acquires White Star Petroleum Assets

4 AM Midstream, LLC has acquired midstream oil and gas gathering assets from White Star Petroleum, LLC, an independent oil and natural gas exploration and production company headquartered in Oklahoma City. The acquired assets are located in central Oklahoma and include 253 miles of gas gathering pipelines including 26 miles of high pressure lines and 214 miles of crude oil gathering pipelines. “The acquisition of White Star’s midstream assets is the first phase of our overall strategy for Central and Western Oklahoma,” said 4 AM Midstream CEO  Aubrey Harper. “The system was built to accommodate a […]

Axalta Coating Systems to Acquire Plascoat Systems Limited

Axalta Coating Systems has acquired Plascoat Systems Limited from its parent company, International Process Technologies (IPT) Ltd. Financial terms of the transaction were not disclosed. Established in 1952, Plascoat has pioneered the science behind the formulation, manufacturing, and application of thermoplastic polyolefin coatings. The company’s product portfolio includes the following: Plascoat PPA 571, a flexible, tough and highly durable plastic coating used for a wide variety of outdoor applications Talisman, a hard wearing, tough plastic coating used extensively in the dishwasher basket coating market Plascoat PPA 571 Aqua, a unique plastic coating for potable water pipes […]

Holly Energy Partners to Acquire Remaining Interests in Frontier and SLC Pipelines

Holly Energy Partners, L.P. has entered into definitive agreements to acquire a 50% interest in Frontier Aspen LLC, the owner of the Frontier Aspen Pipeline, and a 75% interest in the SLC Pipeline LLC, the owner of the Salt Lake City Pipeline, from affiliates of Plains All American Pipeline, L.P. for an aggregate purchase price of $250 million in cash. Holly Energy currently owns 50% of Frontier and 25% of SLC. As a result, following the transactions, SLC and Frontier will be wholly-owned subsidiaries of Holly Energy. The Frontier Aspen Pipeline is a 289-mile crude […]

Goodnight Midstream Acquires Wyatt Water Solutions

Goodnight Midstream has acquired Wyatt Water Solutions, LLC, establishing a footprint in the Eagle Ford shale of South Texas. Wyatt Water Solutions, LLC will operate as a wholly owned subsidiary of Goodnight Midstream and begin operations in Atascosa County, Texas. Eric Leuenberger, founder of Wyatt Water Solutions, will serve as Vice President of Eagle Ford Operations and remain President of Wyatt Water Solutions, LLC. “This acquisition is another step in Goodnight’s continued commitment to provide midstream produced water solutions in top-tier basins for our operating customers,” said Patrick Walker, Chief Executive Officer of Goodnight Midstream. […]

American Midstream Acquires Panther Asset Management

American Midstream Partners, LP (AMID) has acquired 100% of the assets in Panther Asset Management, LLC, for a total consideration of approximately $52 million. The consideration consisted of approximately $39 million cash from borrowings under AMID’s revolving credit facility and common units representing limited partner interests. Under the terms of the acquisition, AMID will acquire Panther’s 33.3% equity interests in Main Pass Oil Gathering (MPOG), as well as Panther’s 40% equity interest in American Panther, LLC (AmPan). MPOG currently provides crude oil transportation services in the Main Pass, Viosca Knoll and Mississippi Canyon areas with onshore Louisiana […]

Tallgrass Energy Partners Acquires Powder River Oil Gathering System

Tallgrass Energy Partners, LP’s subsidiary Tallgrass Midstream, LLC (TMID) has closed on the acquisition of Outrigger Energy LLC’s crude oil gathering system in the Powder River Basin for approximately $36 million, subject to potential adjustments specified in the purchase agreement. The acquired assets include approximately 34 miles of gathering lines and approximately 150,000 acres dedicated on a long-term fee-based contract. Tallgrass estimates approximately $7 million in additional capital expenditures for the remainder of 2017 on the Outrigger system. As a result of the acquisition, Tallgrass Interstate Gas Transmission, LLC (TIGT) intends to abandon by sale […]

Pin Oak Energy Acquires Oil and Gas Assets in Ohio and Pennsylvania

Pin Oak Energy Partners LLC has closed on a transaction to acquire oil and gas assets in Trumbull, Tuscarawas and Mahoning Counties in Ohio and Mercer, Crawford and Venango Counties in Pennsylvania. “This acquisition adds to our base of producing unconventional assets in the Appalachian Basin and allows Pin Oak to capitalize on operational efficiencies when combined with our existing producing assets,” said Christopher Halvorson, CEO of Pin Oak Energy. In addition, this transaction provides a foundation for continued build-out of midstream assets across the northern portion of the Utica/Point Pleasant development.” The assets include 10 […]

Mainline Energy Partners Acquires Oil and Gas Pipeline in Oklahoma

Mainline Energy Partners, LLC has acquired more than 1,000 miles of oil and gas pipeline and rights of way in the SCOOP/STACK/MERGE resource play in Oklahoma. The company plans to utilize the rights of way to support the development of oil and gas gathering, transport, storage, stabilization and processing facilities in the SCOOP/STACK/MERGE basin. “The SCOOP/STACK/MERGE play is economically attractive, and our strategy is to develop infrastructure in the play, providing outlet optionality and allowing producers to focus on the drill bit and invest their capital efficiently.” William Shea, CEO, Mainline Energy Partners, said.

QEP Resources to Sell Wyoming Natural Gas Assets for $777.5 Million

QEP Resources, Inc.’s wholly owned subsidiary, QEP Energy Company, has entered into two definitive agreements to sell natural gas assets in southwest Wyoming for combined proceeds of $777.5 million, subject to customary purchase price adjustments. “Our Wyoming assets have been significant contributors to the company for many years and were critical to our early success,” said Chuck Stanley, Chairman, President and CEO of QEP Resources. “As we continue to evolve as a company, these transactions are a necessary next step in simplifying our asset portfolio and delivering significant financial proceeds that will further strengthen our […]

American Midstream to Sell Propane Business for $170 Million

American Midstream Partners, LP (AMID) has entered into a definitive agreement for the sale of the company’s Propane Marketing and Services business to SHV Energy N.V. for $170 million in cash, subject to working capital adjustments. Under the terms of the transaction, AMID will divest 100% of its propane assets, including Pinnacle Propane’s 40 service locations; Pinnacle Propane Express’ cylinder exchange business and related logistic assets; and the Alliant Gas utility system. In the second quarter of 2017, the company began executing on a capital optimization strategy to simplify its businesses and redeploy capital from non-core assets toward […]

Veresen Shareholders OK Merger with Pembina

Pembina Pipeline Corporation (TSX: PPL; N and Veresen Inc. today announced that Veresen shareholders, at Special Meetings of Veresen’s common and preferred shareholders, have approved the transathat will create one of the largest energy infrastructure companies in Canada. “We are very pleased with the overwhelming support of our shareholders to create a leading Canadian energy infrastructure business,” said Don Althoff, President and Chief Executive Officer of Veresen. “We strongly believe that the combined company is greater than the sum of its parts and will be well positioned to compete for future investment opportunities in order […]

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