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Briefs -- Cargill, Macquarie | Colorado Wildfires

Minneapolis, MN-based Cargill has reached an agreement to sell its North America Power and Gas trading business to Macquarie Group for an undisclosed amount in a deal expected to close this year. The unit has offices in Calgary, Houston and Minneapolis. Macquarie was No. 5 in NGI'recent analysis of 2016 Form 552 buyer and seller filings with the Federal Energy Regulatory Commission. Macquarie also was ranked No. 5 with 8.91 Bcf/d sales in NGI's 1Q2017 Top North American Gas Marketers Ranking. Cargill was No. 47 in NGI's analysis of 2015 Form 552 filings, buying and selling 669.8 Tbtu. In March, Cargill agreed to sell its petroleum business to Macquarie, also for an undisclosed amount, in a deal expected to close in 2H2017. "Together with our acquisition of Cargill Petroleum, we see a historical opportunity for continued growth and customer engagement across the energy spectrum," said Macquarie Group’s Nick O’Kane, global head of commodities.

Winds in excess of 70 mph triggered a fourth wildfire in northwest Colorado covering more than 5,000 acres, and the threat to oil and natural gas operations remains at another fire contained at around 1,000-acres, according the U.S. Bureau of Land Management (BLM). Some energy operators have shut in some operations as a precautionary step. The Dead Dog fire was considered the biggest of the four lightning-ignited wildfires, and red flag fire warnings remained in effect for the region. BLM reported some highway closures and evacuations as more than 200 firefighters were working the Dead Dog and Hunter fires. The biggest threat to oil and gas operations is said to be the Hunter fire. 

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