M&A

Following an overall paltry return for Lower 48 oil and gas property sales in 2019, the dealmaking market may be looking for a repeat, as well-financed operators prowl for quality assets at bargain prices, according to energy data specialist Enverus.

KKR and Alberta Investment Management Corp. agreed to become majority stakeholders in TC Energy Corp.’s 2.1 Bcf/d Coastal GasLink Pipeline Project now underway, which is to serve anchor customer LNG Canada in British Columbia.

Houston-based W&T Offshore Inc. has become the operator and majority owner of the Magnolia field in the deepwater Gulf of Mexico (GOM) in a $20 million acquisition from ConocoPhillips.

EQT Corp.’s new management team plans to slash spending significantly next year and unload up to $1.5 billion in assets to help cut debt and fulfill the promises made by CEO Toby Rice when he campaigned for control of the company.

Minneapolis-based Xcel Energy Inc. is seeing opportunities to buy more natural gas assets after agreeing to spend $650 million for Mankato Energy Center, according to CEO Ben Fowke.

Sempra Energy on Monday said its liquefied natural gas (LNG) unit has a memorandum of understanding with a Chinese operator to provide supply for the country’s power generation sector.

NextEra Energy Partners LP said Monday that it has agreed to acquire a significant ownership stake in the Atlantic Sunrise natural gas pipeline in a deal valued at $1.37 billion.

Perth-based Woodside Petroleum Ltd. signaled Wednesday that it will give no ground on taking its Australian natural gas resources to global markets after securing a supply deal with a top German power generator.

Houston-based Talos Energy Inc. said Thursday it has clinched agreements with BP plc and with ExxonMobil Corp. to expand exploration ventures in the deepwater U.S. Gulf of Mexico (GOM).