This is your Hart Energy A&D Minute with Jordan Soto and powered by Hart Energy's Influential Women in Energy Luncheon and Networking Event.
Midstream companies tallied up more than $3.6 billion in last minute deals in the fourth and first quarter. December’s monster midstream deal was Williams' purchase of the MountainWest system for $1.5 billion from Southwest Gas – which is just one year after the company bought the pipeline. Southwest paid about $500 million more, including debt. Read the full story here.
December’s flurry of smaller midstream deals included Tallgrass’ acquisition of bankrupt Ruby Pipeline, Summit Midstream’s agreement to acquire Outrigger Energy II in the DJ Basin and Pembina sold its stake in the Key Access Pipeline System.
Starting the new year with a close out, Targa Resources purchased the remaining 25% stake in the Grand Prix NGL Pipeline from Blackstone for roughly 1 billion in cash. Check it out here.
That’s your Hart Energy A&D Minute powered by the Influential Women in Energy Luncheon and Networking Event on Feb. 7 in Houston.
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2022-11-16 - The acquisition of Lario Permian follows Diamondback Energy’s agreement to acquire FireBird Energy in the Midland Basin last month.
2022-12-20 - Brazil’s oil regulator ANP auctioned four out of 11 blocks on offer to a small group of NOCs and IOCs focused on opportunities to extract low cost, low carbon intensity resources located offshore Brazil.
2022-11-18 - Rystad Energy foresees investments offshore Suriname reaching $23 billion through 2031 driven by activities in Block 58 while it says political uncertainties continue to muddy the outlook for Venezuela.
2022-11-28 - APA Corp. and TotalEnergies, joint venture partners offshore Suriname in Block 58, deemed the Awari exploration well non-commercial but are eager to start flow-test operations at the Sapakara South-2 (SPS-2) appraisal well, Houston-based APA reports.
2022-11-28 - Frontera Energy, CGX Energy and the Guyana government have agreed to a timeline that will see the two IOCs drill the Wei-1 well in the Corentyne Block offshore no later than Jan. 31.