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  1. 1Derrick US M&A weekly update

    1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of October 10 – October 14. Deal stats   US announced deals YTD US deals in play* Region Value ($Million) Count Value ($Billion) Count Permian $17,113 116 ~$4 12 Mid-Continent $4,893 59 $1-2 6 Gulf Coast $2,128 61 ~$6 11 Rockies $3,872 70 $3 7 Ark-La-Tex $5,497 20 $2 6 Eastern $3,883 20 $2 8 Gulf of Mexico $2,432 81 ~$10 12 Alaska $232 4 - - West Coast $594 12 - - Multi Region $645 20 $2 3 Total $41,289 463 ~$31 65 Source : Ajit Thomas , 1Derrick’s Global M&A Database ( www.1Derrick.com ) *Only includes packages valued >$100 million Deal flow Upstream RSP Permian Inc. has entered into agreements to acquire Silver Hill Energy Partners LLC (Silver Hill I, backed by Kayne Anderson Capital Advisors) and Silver Hill Energy Partners II LLC (Silver Hill II, backed by Kayne Anderson Capital Advisors and Ridgemont Equity Partners) for ~$2.4 billion. RSP Permian will pay $1.25 billion in cash and issue 31 million RSP Permian shares for a total value of $1.15 billion at ~$31 per share. Silver Hill I and Silver Hill II own ~83% average WI in ~41,000 net acres in Northeast Loving Co., and Northwest Winkler Co., TX, in the Delaware basin. Freeport-McMoRan Inc. has entered into an agreement to divest its onshore California assets to Sentinel Peak Resources LLC (backed by Quantum Energy Partners). The assets are located in Los Angeles basin and San Joaquin basin with production of 28 Mbbl/d. On 7-Oct-2016, Resolute Energy completed the previously announced acquisition of Delaware basin assets from FireWheel for $135 million. On 11-Oct-2016, Silver Run completed the previously announced acquisition of Centennial Resources Development for $1.74 billion. Goodrich Petroleum announced that it has satisfied the conditions precedent to the effectiveness of its First Amended Joint Chapter 11 Plan of Reorganization and has emerged from bankruptcy. Goodrich received $40 million in new capital through the issuance of Convertible Second Lien Senior Secured Notes. Extraction Oil & Gas Inc. announced the pricing of its IPO of its common stock at $19 per share. Extraction was initially offering the shares at an estimated price range of $15 to $18. Deals in play Brigham Resources LLC, backed by Warburg Pincus LLC, Pine Brook Partners LLC and Yorktown Partners LLC, is up for sale. Brigham Resources is also exploring the option of a potential IPO. Brigham Resources holds 72,000 acres in the Delaware basin. Midstream EQT Midstream Partners LP has acquired the Allegheny Valley Connector transmission and storage system, along with several Marcellus gathering systems from EQT Corp for $275 million. The assets acquired include ~209 miles of AVC system with capacity of 450 MMcf/d and 11 Bcf of storage capacity and 87 miles of gathering pipeline with capacity of 370 MMcf/d in Pennsylvania and West Virginia. EIV Capital announced the completion of $20 million investment commitment to Gazelle Transportation, a crude oil transportation and fluid management logistics company. EIV's investment will support the company's growth as it continues providing first-class transportation and logistics service to its customer base. Downstream Phillips 66 Partners LP has entered into an agreement to acquire 30 crude oil, refined products and NGL logistics assets from Phillips 66 for ~$1.3 billion. Phillips 66 Partners will pay ~$1.1 billion in cash and issue ~4.093 million Phillips 66 Partners new shares for a total value of $196 million. The assets acquired include 1,373 miles refined products pipelines and 2,215 miles of oil pipelines as well as 4.852 MMbbl of refined products storage and 2.71 MMbbl of oil storage, supporting Phillips 66’s Ponca City, Billings, Bayway and Borger refineries. First Reserve Corp., through an energy infrastructure investment fund, has entered into an agreement to acquire Gas Natural Inc. for a total enterprise value of ~$196 million. This represents a premium of ~39% over Gas Natural's 52-week high. First Reserve will acquire all the outstanding Gas Natural shares at $13.10 in cash per share. Gas Natural engages in the distribution of ~21 Bcf of gas annually in Maine, Montana, North Carolina and Ohio to ~68,000 customers. On 12-Oct-2016, Sunoco LP completed the previously announced acquisition of fuel distribution assets from Denny Oil for $55 million.    

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    Online Articles

    Mon, 17 Oct 2016

  2. SNC-Lavalin strategic oil transportation contract by Ecopetrol

    SNC-Lavalin has been awarded a consulting services contract by Ecopetrol S.A. for oil transportation and logistics in Colombia.

    Online Articles

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    Fri, 10 Jan 2014

  3. Wyden, Rockefeller request crude oil transportation examination

    The chairman of two US Senate committees asked US Sec. of Energy Ernest G. Moniz and US Sec. of Transportation Anthony Foxx to fully examine crude oil transportation in the wake of several recent rail accidents.

    Online Articles

    Online Articles

    Fri, 10 Jan 2014

  4. US senators request review of crude oil transportation safety

    Following explosive US train derailments containing crude oil, US Senators John D. “Jay” Rockefeller IV and Ron Wyden have written a letter to Transportation Secretary Anthony Foxx and Energy Secretary Ernest Moniz urging a review on crude oil transportation .

    Online Articles

    Online Articles

    Fri, 17 Jan 2014

  1. Oil & Gas News: Centurion Midstream Group acquires Permian Crude Transport, LLC

    Online Articles

    Online Articles

    Mon, 1 Aug 2016

  2. Oil transportation : Panda Security uncovers ongoing attack against oil tankers

    PandaLabs reveal cyber-attacks in the maritime oil sector. 

    Online Articles

    Online Articles

    Mon, 18 May 2015

  3. Oil transportation : Oil industry challenges crude-by-rail rules

    API spokesman Brian Straessle said the politically influential trade group supports better tank cars, but companies need more time to get them on the tracks. 

    Online Articles

    Online Articles

    Wed, 13 May 2015

  4. Oil transportation : Regulators in Washington to review Shell oil-by-rail project

    Washington state regulators say they'll work with Skagit County to conduct a full environmental review of a proposed oil-by-rail project. 

    Online Articles

    Online Articles

    Tue, 9 Jun 2015

  5. Oil transportation : Senate Democrats seek tougher federal rules for oil trains

    Senate Democrats have proposed federal legislation to strengthen safety standards for trains that carry volatile shipments of crude oil. 

    Online Articles

    Online Articles

    Wed, 25 Mar 2015

  6. Oil transportation : West Virginia oil train derailment was 1 of 3 with safer tank cars

    The train's tanks were a newer model — the 1232 — designed during safety upgrades voluntarily adopted by the industry four years ago. 

    Online Articles

    Online Articles

    Wed, 18 Feb 2015

  7. Oil transportation : Hijacked Malaysian oil tanker rescued, pirates flee

    Pirates who hijacked a Malaysian oil tanker last week have fled on the ship's lifeboat after being pursued by a Malaysian navy ship. 

    Online Articles

    Online Articles

    Fri, 19 Jun 2015

  8. Oil Transportation News: NY cities update emergency plans to deal with oil trains

    Three years after the Port of Albany became a major hub for rail and barge shipments of highly flammable crude oil from North Dakota, emergency management officials are still grappling with training and response plans.

    Online Articles

    Online Articles

    Thu, 3 Sep 2015

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