Tag Archives: M&A

SemGroup to Sell Interest in Glass Mountain Pipeline for $300 Million

SemGroup® Corporation has reached an agreement to sell its 50 percent interest in Glass Mountain Pipeline, LLC to an affiliate of BlackRock Inc.’s Global Energy and Power Infrastructure Fund in a partnership with Navigator Energy Services for $300 million. “This accretive transaction is the first step of our capital raise plan that is associated with the funding of the second payment for the acquisition of Houston Fuel Oil Terminal Company,” said SemGroup President and Chief Executive Officer Carlin Conner. “During the past year SemGroup has made significant strides on our strategy to de-risk our portfolio by […]

Plains All American Pipeline Sells Crude Oil Terminals

A subsidiary of TransMontaigne Partners L.P.  has entered into an agreement to acquire the Martinez Terminal and Richmond Terminal from an affiliate of Plains All American Pipeline, L.P., for a total purchase price of $275 million. The acquisition is expected to be financed through the proceeds of a common unit offering and cash available from other sources. The closing of the acquisition is expected to occur on or about Jan. 1, 2018, subject to customary closing conditions. “We believe that this transaction strengthens our position as one of the leading refined products terminaling and transportation […]

INEOS Acquires BP’s Forties Pipeline System

INEOS has completed its acquisition of the Forties Pipeline System and associated pipelines and facilities from BP.  The 235-mile pipeline system links 85 North Sea oil and gas assets to the UK mainland and INEOS’ site in Grangemouth, Scotland, delivering almost 40% of the UK’s North Sea oil and gas production.  The associated pipelines and facilities acquired include the Kinneil gas processing plant and oil terminal, the Dalmeny storage and export facility, sites at Aberdeen, and the Forties Unity Platform. “Our acquisition of the Forties Pipeline System and associated assets together with its highly skilled workforce […]

New Jersey Resources Acquires Pennsylvania Pipeline

New Jersey Resources’ subsidiary, Adelphia Gateway, LLC, has entered into an agreement with Talen Generation, LLC, a subsidiary of Talen Energy Corporation, to purchase all of Talen Generation’s membership interests in Interstate Energy Company LLC, which owns and operates an existing 84-mile pipeline in southeastern Pennsylvania, for an estimated $166 million, plus additional contingent payments of up to $23 million based on certain specified conditions. The transaction is expected to close following receipt of all necessary permits and regulatory actions, including those from the Federal Energy Regulatory Commission and the Pennsylvania Public Utility Commission. New […]

CVR Refining Forms JV with Plains, Acquires Pipeline Assets

CVR Refining, LP and Plains All American Pipeline, L.P. today announced the formation of a 50/50 joint venture, Midway Pipeline, LLC, which has acquired Plains All American’s Cushing to Broome pipeline system, an approximately 100-mile, 16-inch pipeline system that connects CVR Refining’s Coffeyville, Kansas, refinery, to the Cushing, Oklahoma, oil hub. Under the terms of the agreement, Midway Pipeline will continue its role as operator of the pipeline. In a separate transaction, the companies announced that CVR Refining has agreed to acquire the Cushing to Ellis crude oil pipeline system. The approximately 100-mile, 8-and 10-inch pipeline […]

UGI Acquires Gas Gathering Pipeline in the Marcellus

UGI Energy Services LLC, a subsidiary of UGI Corporation, has acquired midstream assets from Rockdale Marcellus LLC. These assets were purchased by its wholly owned subsidiary, UGI Texas Creek LLC. Under the terms of the transaction, UGI Texas Creek acquired 100 percent of a midstream system located in Tioga, Lycoming and Bradford counties, Pennsylvania. The system is composed of more than 60 miles of natural gas gathering lines, along with dehydration and compression facilities. UGI Texas Creek also received a dedication from Rockdale for the 1 Tcf of gas to be produced from the 42,000 acres […]

Blackstone Energy Partners Acquires 50% Stake in Energy Transfer Partners’ Subsidiary

Energy Transfer Partners, L.P.’s wholly owned subsidiaries, Energy Transfer Interstate Holdings, LLC and ET Rover Pipeline LLC, have closed the previously announced sale of a 49.9% interest in ET Rover Pipeline LLC to Blackstone Energy Partners. As a result of this closing, ET Rover Pipeline LLC is now owned 50.1% by Energy Transfer Partners and 49.9% by Blackstone Energy Partners. Phase 1A of the Rover Pipeline now transports more than one billion cubic feet per day of natural gas from Cadiz, Ohio to Defiance, Ohio. Upon full completion, the Rover Pipeline will be an approximately 713-mile pipeline […]

Global Infrastructure Partners Acquires Medallion Midstream

Global Infrastructure Partners has closed on the previously announced acquisition of Medallion Gathering & Processing, LLC.  The company purchased Medallion from an affiliate of The Energy & Minerals Group, 51% owner, and an affiliate of Laredo Petroleum, Inc., 49% owner, for a cash purchase price of $1.825 billion plus additional cash consideration that is linked to Global Infrastructure Partners’ realized profits at exit. All proceeds from the sale of Medallion, subject to customary post-closing adjustments, will be distributed 51% to The Energy & Minerals Group and 49% to Laredo Petroleum. Under the terms of the […]

ExxonMobil Acquires Crude Oil Terminal to Serve Growing Permian Basin Production

Exxon Mobil Corporation has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP. The terminal is strategically positioned to handle Permian Basin crude oil and condensate for transport to Gulf Coast refineries and marine export terminals. The facility is interconnected to the Plains Alpha Crude Connector pipeline system, and is permitted for 100,000 barrels per day of throughput with the ability to expand. “The terminal provides crude producers with a full range of logistical options including truck, rail and inbound and outbound pipeline access, not only for ExxonMobil’s production, but for all […]

Emerson Acquires GeoFields

Emerson has acquired GeoFields, Inc., a leading global supplier of software and implementation services for pipeline integrity data collection, management and risk analysis for the oil and gas industry. GeoFields’ software enables pipeline operators to collect critical integrity data, perform risk modeling and high consequence area (HCA) risk analysis and prioritize pipeline integrity-related maintenance and asset management activities. Terms of the acquisition were not disclosed. The acquisition of GeoFields helps to further position Emerson as a comprehensive solutions provider for pipeline operations management. Emerson’s extensive portfolio of pipeline solutions for the oil and gas industry […]

GATE Energy Acquires Patriot Rentals’ Filtration Services,

GATE Energy has acquired Patriot Rentals’ filtration business unit, headquartered in Lafayette, LA. Under the terms of the acquisition, Patriot Rentals’ water filtration division will join forces with BlueFin, a GATE Energy Company, to enhance BlueFin’s turnkey pipeline management and water filtration and flowback solutions. “With this acquisition, the BlueFin and the GATE Energy family of companies will be further positioned to provide a more integrated offering to the energy market, as well as enhance the vertical integration of our services for our Pipeline and Process business unit,” Jason Broussard, BlueFin’s Vice President, said. “

WaterBridge Resources Acquires Arkoma Basin Produced Water Gathering & Disposal Company

WaterBridge Resources LLC’s affiliate, WaterBridge Resources II LLC, has closed on the acquisition of Arkoma Water Resources, LLC from USG Surface Facilities I, LLC. WaterBridge II was formed in conjunction with the acquisition and is supported by $300 million in equity commitments from Five Point Capital Partners LLC and its affiliates. Arkoma Water Resources operates approximately 110 miles of produced water pipeline and 95 miles of gas lift pipeline infrastructure, along with three water transfer facilities and five saltwater injection facilities, located in Hughes and Pittsburg Counties, Oklahoma. In connection with the acquisition, USG and […]

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