Two Texas-based operators have joined forces to create a virtual pipeline business designed to move compressed and liquefied natural gas (LNG) to customers nationwide. Sapphire Gas Solutions was created by Dallas-based BP Energy Partners (BPEP) affiliate Blue Roads Solutions and Thigpen Solutions, which is based near Houston in Conroe. Sapphire is to provide gas and…
Articles from Merger
Permian Basin explorer Parsley Energy Inc. on Monday agreed to buy private equity-backed Jagged Peak Energy Inc. in an all-stock transaction valued at $2.27 billion.
Marathon Petroleum Corp.’s two master limited partnerships (MLP) MPLX LP and Andeavor Logistics LP agreed Wednesday to combine in a transaction with an estimated equity value of $9 billion to enhance midstream prospects across the Lower 48.
Houston-based independent Amplify Energy Corp. and Oklahoma’s Midstates Petroleum Co. Inc. have agreed to merge their operations in an all-stock transaction estimated to have an enterprise value of more than $720 million.
Montage Resources Corp., which emerged on Thursday after Appalachian pure-plays Eclipse Resources and Blue Ridge Mountain Resources officially combined, is aiming for double-digit production growth in the basin this year with a revamped strategy.
Spokane, WA-based Avista Corp. and Canada-based Hydro One Ltd. on Wednesday pulled the plug on their 18-month effort to complete the Toronto electricity giant’s $5.3 billion takeover proposal.
The merger proposed between Permian Basin producers Diamondback Energy Inc. and Energen Corp. has been approved by each company’s stockholders. Diamondback is acquiring the Birmingham, AL-based operator in an all-stock transaction estimated at $9.2 billion. The merger, set to be completed by Friday (Nov. 29), is giving Midland, TX-based Diamondback a total of 390,000 net acres across the Midland and Delaware sub-basins of the Permian, an 85% increase from Diamondback’s 211,000 net acres at the end of June.
SandRidge Energy Inc. said it plans to continue developing its assets in Colorado, the Mississippian Lime and the Midcontinent after the board determined that multiple offers for a merger or a sale fell short of expectations.
Houston-based Independence Contract Drilling Inc. (ICD) on Thursday said it would merge with cross-town rival Sidewinder Drilling LLC, a combination that would bring together contract drilling fleets concentrated in the Permian Basin and Haynesville Shale.
Calgary-based competitors Baytex Energy Corp. and Raging River Exploration Inc. agreed Monday to merge in a transaction estimated to be worth close to C$5 billion (US$3.78 billion) to create an onshore producer with holdings in Western Canada and South Texas.