This is one of the largest midstream deals in years. It'll create one of the nation's largest oil and gas midstream players in the Gulf Coast, midcontinent and beyond. ONEOK is acquiring Magellan Midstream Partners and a cash-and-stock deal valued at $18.8 billion.
Northern Oil and Gas and Vital Energy are partnering on a $540 million acquisition in the Permian Basin after jointly agreeing to buy Forge Energy's assets in the Delaware Basin. This adds production in undeveloped drilling locations in West Texas and ends Vital's status as a Midland Basin pure play. What other E&Ps do you think will buy in the Delaware this year?
Lithium producers Allkem and Livent are coming together in a $10.6 billion merger to create the world's third largest lithium manufacturer. The companies aim to capitalize on growing demand for lithium driven by EVs and energy storage. Will the market see more clean energy-focused consolidation?
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Analysts: ONEOK-Magellan Deal Survives Hotly Contested Vote
2023-09-22 - Despite public opposition from some investors, Magellan Midstream Partners shareholders OK’d a $18.8 billion merger with midstream player ONEOK Inc., but analysts and investors still have questions about the deal.
ONEOK, Magellan Midstream Stakeholders Approve $18.8B Merger Despite Opposition
2023-09-21 - Magellan Midstream investor Energy Income Partners had campaigned against the merger with ONEOK.
W&T Offshore Closes $32M GoM Shallow Water Deal
2023-09-21 - W&T Offshore is growing its footprint in the Gulf of Mexico with a $32 million shallow-water acquisition.
Norwegian Energy Data Companies PGS, TGS to Merge
2023-09-18 - Norwegian energy data companies PGS and TGS announced they are merging to create a full-service energy data company.
Murphy Oil Closes $104M Divestiture of Non-Core Canada Assets
2023-09-18 - Murphy Oil sold non-core assets in western Canada for $104 million in cash, with proceeds earmarked for new development in Africa and Asia.