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Kingston Expanding Midstream in Clearwater with Rangeland Canada Takeover

Kingston Expanding Midstream in Clearwater with Rangeland Canada Takeover

Kingston Midstream Alberta Ltd. has stepped forward to buy the three-year-old Marten Hills Pipeline System in the Clearwater field in Canada, with the takeover of Rangeland Midstream Canada Ltd. from its Texas owners. The transaction, for an undisclosed amount, is set to be completed by the end of this month. Marten Hills, which was placed…

September 15, 2023
Calgary’s Precision Drilling Merging with CWC to Build North American Rig Fleet

Calgary’s Precision Drilling Merging with CWC to Build North American Rig Fleet

Calgary-based drilling contractor Precision Drilling Corp. is merging its drilling operations with cross-town rival CWC Energy Services Corp., a deal designed to boost the North American rig fleet. The cash-and-stock transaction is worth an estimated C$141 million ($104 million). Precision said it would trade 948,000 of shares, valued at C$88 million ($65 million), as well…

September 12, 2023
Crescent Energy Eagle Ford Expansion Continues with $250M Acquisition 

Crescent Energy Eagle Ford Expansion Continues with $250M Acquisition 

Crescent Energy Co. is expanding its Eagle Ford Shale footprint in South Texas with a $250 million cash acquisition, management said. The Houston-based independent is purchasing incremental working interest in its operated Western Eagle Ford assets.  The transaction follows a recent $600 million acquisition of operatorship in the assets that was completed in July. That…

September 8, 2023
Alberta’s Peyto Eyes ‘Dominant Deep Basin Position,’ Snaps Up Repsol Natural Gas Assets for $468M 

Alberta’s Peyto Eyes ‘Dominant Deep Basin Position,’ Snaps Up Repsol Natural Gas Assets for $468M 

Calgary-based natural gas producer Peyto Exploration & Development Corp. is poised to substantially expand its natural gas position in the Deep Basin of Western Canada with a $468 million cash acquisition of Repsol SA’s upstream Canada business. The deal would add 455,000 net acres with an average working interest of 65% in the greater Edson…

September 7, 2023
Western Midstream Betting $885M on Powder River Basin Natural Gas with Meritage Midstream Tie-up

Western Midstream Betting $885M on Powder River Basin Natural Gas with Meritage Midstream Tie-up

Western Midstream Partners LP (WES) has signed a deal to acquire privately held Meritage Midstream Services II LLC in an all-cash, $885 million transaction.  Denver-based Meritage owns and operates an extensive natural gas gathering and processing (G&P) business in the Powder River Basin (PRB) of Wyoming. The assets, located in Converse, Campbell and Johnson counties,…

September 6, 2023
Enbridge CEO Calls Dominion Natural Gas Utility Deal ‘Once in a Generation Opportunity’

Enbridge CEO Calls Dominion Natural Gas Utility Deal ‘Once in a Generation Opportunity’

Enbridge Inc. agreed late Tuesday to spend $9.4 billion to become the top North American natural gas utility operator in North America with the purchase of three Dominion Inc. systems, which, once completed, would deliver 9.3 Bcf/d to seven million U.S. and Canadian customers. The Dominion systems to be sold, East Ohio Gas Co., Public…

September 6, 2023
Diamondback’s Viper Energy Building ‘Unparalleled Growth Runway’ with Natural Gas, Oil Royalty Acquisition

Diamondback’s Viper Energy Building ‘Unparalleled Growth Runway’ with Natural Gas, Oil Royalty Acquisition

Viper Energy Partners LP has entered a deal to substantially expand its Lower 48 mineral and royalty interest footprint through an acquisition from two private equity firms. The Diamondback Energy Inc. subsidiary agreed to acquire about 7,300 net royalty acres from Warwick Capital Partners and GRP Energy Capital for roughly 9.02 million Viper common units…

September 5, 2023
Equinor Builds in U.S. by Joining Chevron, Talos in Texas Carbon Capture Project

Equinor Builds in U.S. by Joining Chevron, Talos in Texas Carbon Capture Project

Equinor ASA, whose broad U.S. portfolio stretches from Appalachia into the Gulf of Mexico, is snapping up a quarter-stake in the Chevron Corp.-led Bayou Bend CCS LLC, positioned to be one of the largest carbon capture, utilization and storage (CCUS) projects on the Texas coast. In the agreement with Texas Carbon 1 LLC, a subsidiary…

September 5, 2023
PE-Backed Peak 10 Buys Upstream Properties in Permian Midland

PE-Backed Peak 10 Buys Upstream Properties in Permian Midland

Investment firm Peak 10 Energy Holdings LP made its inaugural acquisition of assets in the Permian Basin’s Eastern Shelf, expanding its position as it snaps up and works with operators to develop Lower 48 oil and natural gas assets. The private equity (PE)-backed company made its inaugural purchase of acreage in Fisher and Scurry counties,…

September 1, 2023
AltaGas Muscles Up in Natural Gas-Rich Montney with Tidewater Midstream Tie-Up

AltaGas Muscles Up in Natural Gas-Rich Montney with Tidewater Midstream Tie-Up

AltaGas Ltd. agreed Thursday to buy some natural gas storage assets and midstream properties in Alberta’s Montney Shale from Tidewater Midstream and Infrastructure Ltd. in a cash-and-stock deal valued at $447 million. The package includes the northern Pipestone natural gas processing, storage and pipeline network, as well as the Dimsdale gas storage facility. “We are…

August 31, 2023
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