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Rice-Backed Firm Prowling for Sustainable Energy Deals after $345M IPO

Rice-Backed Firm Prowling for Sustainable Energy Deals after $345M IPO

Former Rice Energy Inc. CEO Daniel Rice is doubling down on the energy transition with the debut of a second sustainability-focused blank-check firm. Rice Acquisition Corp. II (RAC II) raised $345 million in its initial public offering (IPO), which closed last week. The company, founded and led by Rice, plans to use the proceeds to…

June 22, 2021
TotalEnergies Takes Stake in World’s Largest Hydrogen Taxi Owner

TotalEnergies Takes Stake in World’s Largest Hydrogen Taxi Owner

In a move to emphasize its rebranding to a broad energy company, French supermajor TotalEnergies SE has acquired a 20% stake in Hysetco, which owns the largest hydrogen taxi fleet in the world. Hysetco has about 700 taxis in Paris and it operates a network of hydrogen stations. The company was established in 2015 under…

June 15, 2021
Oxy Sells Colgate Energy Slice of Permian West Texas Acreage, Production

Oxy Sells Colgate Energy Slice of Permian West Texas Acreage, Production

Occidental Petroleum Corp. is selling off 25,000 net acres in its West Texas holdings in the Permian Basin, along with the production, to private equity (PE) sponsored Colgate Energy Partners III LLC. The $508 million deal by Oxy, as it is better known, includes 25,000 net acres in Reeves and Ward counties within the Delaware…

June 11, 2021
Correction

Correction

In the story, “Enbridge Exits Vermont, Portions of Quebec Natural Gas Distribution Business,” NGI incorrectly stated that Enbridge was exiting the natural gas distribution business in Quebec. The company still supplies natural gas in the province through subsidiary Gazifere, which was not part of the sale. NGI regrets the error.

June 10, 2021
Texas E&Ps Independence, Contango to Merge in All-Stock Deal, Pursue Lower 48 Growth

Texas E&Ps Independence, Contango to Merge in All-Stock Deal, Pursue Lower 48 Growth

Texas-based exploration and production (E&P) firms Independence Energy LLC and Contango Oil & Gas Co. announced Tuesday they will merge in an all-stock transaction. The E&Ps produced a combined 111,000 boe/d of oil and gas in the first quarter across several major Lower 48 basins. Houston-based Independence is owned and managed by global investment firm…

June 8, 2021
Plains to Offload Gulf Coast Storage Facilities for $850M

Plains to Offload Gulf Coast Storage Facilities for $850M

Plains All American LP plans to sell a pair of natural gas storage facilities on the Gulf Coast for $850 million, putting it on track to exceed its 2021 divestiture target in a single blow. The company said Tuesday it would sell the Pine Prairie facility in southern Louisiana and Southern Pines in eastern Mississippi…

June 8, 2021
Civitas Looking to Create DJ Beast by Merging Crestone Peak with Bonanza, Extraction Tie-Up

Civitas Looking to Create DJ Beast by Merging Crestone Peak with Bonanza, Extraction Tie-Up

If all goes to plan, Civitas Resources Inc. could become a giant among giants in the Colorado oil and natural gas world as it looks to merge another Denver Julesburg (DJ) Basin producer into its operations. DJ pure-plays Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. agreed to merge in early May. That…

June 7, 2021
EnLink Eyeing CCUS in Louisiana, Boosting Guidance on Stronger Natural Gas, Oil Prices

EnLink Eyeing CCUS in Louisiana, Boosting Guidance on Stronger Natural Gas, Oil Prices

Dallas-based EnLink Midstream LLC has increased its earnings guidance for 2021 amid strengthening natural gas and oil prices, with an eye on expanding operations and lowering carbon emissions. “We are pursuing exciting growth opportunities in the Permian and Louisiana, as well as experiencing improved activity in Oklahoma and North Texas,” CEO Barry E. Davis said.…

June 5, 2021
Inter Pipeline Said Sticking with Pembina Offer After Brookfield Launches Second Bid

Inter Pipeline Said Sticking with Pembina Offer After Brookfield Launches Second Bid

Calgary takeover target Inter Pipeline Ltd. rejected a second uninvited bid Thursday by Toronto-based Brookfield Infrastructure Partners. Inter Pipeline said a combination announced Tuesday (June 1) with Calgary-based Pembina Pipeline Corp. would be a better industrial match with growth prospects. Both firms have pipeline, processing and storage networks, and Inter Pipeline is building a new…

June 4, 2021
Alberta’s Pembina Acquiring Inter Pipeline Natural Gas, Oil Infrastructure in $6.6B Tie-up

Alberta’s Pembina Acquiring Inter Pipeline Natural Gas, Oil Infrastructure in $6.6B Tie-up

Pembina Pipeline Corp. will take over Inter Pipeline Ltd. in an agreement announced Tuesday to combine their Calgary-based western Canadian delivery, processing and storage networks for natural gas, liquid byproducts, oil and petrochemicals. The all-stock deal values Inter Pipeline at C$8.3 billion ($6.6 billion), topping a rejected bid from Brookfield Infrastructure Corp. in Toronto by…

June 1, 2021
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