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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 November 21st to November 25th. Deal stats   US announced deals YTD US deals in play* Region Value ($MM) Count Value ($B) Count Permian $21,277 138 ~$5 16 Mid-Continent $4,954 73 $1-2 6 Gulf Coast $2,888 77 ~$9 11 Rockies $5,504 83 $5 7 Ark-La-Tex $6,498 28 $1 3 Eastern $5,024 31 $2 8 Gulf of Mexico $2,432 81 ~$10 12 Alaska $232 4 - - West Coast $611 15 - - Multi Region $1,492 24 $2 3 Total $50,912 554 ~$36 66 Source : Ajit Thomas , 1Derrick’s Global M&A Database ( www.1Derrick.com ) *Only includes packages valued >$100 million Deal flow Upstream Concho Resources Inc. has entered into a definitive agreement to acquire Northern Delaware basin assets from Endurance Resources LLC (backed by Lime Rock Partners) for ~$430 million. The assets cover 16,400 net acres with production of 2.5 MBOE/d, located primarily in Red Hills area in Lea Co., NM. Endurance Resources LLC, backed by Lime Rock Partners, has entered into two separate agreements to sell majority of its Delaware basin assets located in New Mexico and Texas. RBC Richardson Barr disclosed the buyer for the New Mexico assets as Concho Resources. The assets located in Reeves Co., TX, cover ~15,000 net surface acres. OFS On 21-Nov-2016, Transocean revised terms to acquire the remaining ~29% stake in Transocean Partners. Transocean will now offer 1.2 Transocean shares instead of 1.1427 Transocean share, for each Transocean Partners share. The revised deal value including shares worth ~$265 million and working capital surplus of $70.76 million for 29% stake, is $194.24 million. Midstream Sunoco Logistics Partners LP (SXL) has entered into an agreement to acquire Energy Transfer Partners LP (ETP). SXL will offer 1.5 SXL shares for every ETP share. SXL will issue ~814 million shares worth ~$21.3 billion at $39.29 per share. The aggregate deal value including shares, debt of ~$29.18 billion and working capital deficit of $701 million, is ~$51.19 billion. ETP owns ~62,500 miles of pipelines with total liquids capacity of ~1,287 MMbbl/d and gas capacity of ~33.4 Bcf/d across United States. Tesoro Logistics LP has entered into an agreement to acquire certain gathering and processing assets in North Dakota from Whiting Petroleum Corp., MDU Resources Group Inc., and GBK Investments LLC for $700 million. The assets include ~650 miles of oil, gas, and produced water gathering pipelines, and 2 processing plants (Robinson Lake and Belfield) with 170 MMcf/d of gas processing capacity and 18.7 Mbbl/d of fractionation capacity. Downstream Tesoro Logistics LP has acquired certain terminalling and storage assets located in Martinez, California from Tesoro Corp. for $400 million. Tesoro paid $360 million in cash and issue 878,503 shares worth ~$40 million at $45.53 per share. The assets include 5.8 MMbbl oil, feedstock and refined products storage capacity at Martinez refinery as well as a marine terminal capable of handling ~35 Mbbl/d of feedstock and refined product throughput.  

    Online Articles

    Online Articles

    Mon, 28 Nov 2016

  2. Tesoro Logistics expands midstream asset base with $1.1 billion in deals

    Tesoro Logistics LP has made $1.1 billion-worth in assets acquisitions in an effort to expand is midstream portfolio.

    Online Articles

    Online Articles

    Tue, 22 Nov 2016

  3. Contract let for Alberta bitumen refinery

    North West Redwater Partnership (NWRP) has let a contract to General Electric International Inc. subsidiary GE Water & Process Technologies, Trevose, Pa., to provide wastewater treatment and recycling technologies to help NWRP meet Canada’s stringent provincial water regulations at its greenfield ...

    Online Articles

    Online Articles

    Wed, 16 Nov 2016

  4. Curacao inks MOU for new operator, revamp of Emmastad refinery

    China’s state-owned Guandong Zhenrong Energy Co. Ltd. (GDZR), Guangzhou, has entered a memorandum of understanding (MOU) with a division of BP PLC as part of GDZR’s agreement with the government of Curacao to take over operatorship as well as finance an upgrade of state-controlled Refineria Di ...

    Online Articles

    Online Articles

    Mon, 14 Nov 2016

  1. World’s first FLNG facility starts up

    Online Articles

    Online Articles

    Thu, 17 Nov 2016

  2. Colombia due expanded gas distribution network

    Canacol Energy Ltd., Calgary, has entered an agreement with Promigas SA ESP, Barranquilla, Colombia, to expand existing gas transportation and sales to Colombia’s Caribbean coast by an additional 100 MMcfd.

    Online Articles

    Online Articles

    Thu, 17 Nov 2016

  3. Statoil boosts gas processing capacity at North Sea Troll platform

    Statoil has commissioned Aker Solutions to construct and install a new module to increase gas processing capacity on the Troll B platform in the Norwegian North Sea.

    Online Articles

    Online Articles

    Fri, 16 Sep 2016

  4. Siemens wraps power-supply project at Kuwaiti refineries

    Siemens AG has completed upgrades to high-voltage substations at Kuwait National Petroleum Co.’s Mina Abdullah and Mina Al Ahmadi refineries in southern Kuwait as part of a greenfield development to increase power stability and expand crude processing capacities at the refineries under KNPC’s Clean ...

    Online Articles

    Online Articles

    Fri, 5 Aug 2016

  5. China’s shale gas production outperforms expectations

    Sinopec Ltd. reported that Fuling shale gas field in southwestern China produced a cumulative 3.76 billion cu m of gas from January to September. The 107% increase in production was accompanied by additional processing capacity of 5.5-6.5 bcm, the company said. In 2014, Sinopec announced plans to ...

    Online Articles

    Online Articles

    Thu, 3 Nov 2016

  6. Bahrain advances project to expand gas processing capacity

    Bahrain National Gas Expansion Co. (BNGEC), a subsidiary of the National Oil & Gas Authority (NOGA) of Bahrain’s business development and investment arm NOGA Holding Co. (Nogaholding), has let a contract to an affiliate of JGC Corp., Yokohama, Japan, to build additional gas pipelines and storage ...

    Online Articles

    Online Articles

    Thu, 13 Oct 2016

  7. American Midstream, JP Energy to merge, form $2-billion MLP

    American Midstream Partners LP has agreed to acquire 100% of JP Energy Partners LP in a unit-for-unit merger, creating a $2-billion midstream master limited partnership (MLP) with primary operations in the Permian, Eagle Ford, Bakken, and Gulf of Mexico.

    Online Articles

    Online Articles

    Mon, 24 Oct 2016

  8. American Midstream Partners to merge with JP Energy Partners

    American Midstream Partners LP and JP Energy Partners LP have executed a merger agreement to create a combined midstream platform.

    Online Articles

    Online Articles

    Mon, 24 Oct 2016

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