(Source: Shutterstock)
Following an anonymously-sourced report, Williams Cos. (WMB) denied on Sept. 4 the company had tried to buy out midstream competitor Targa Resources (TRGP), Reuters reported.
In an email, the company wrote, “Williams has not extended an offer to Targa Resources, nor are there any deliberations to do so.”
The statement came after an earlier report from Bloomberg, in which anonymous sources reported that Targa had rebuffed “informal” interest from Williams. Targa believed the original offer undervalued the company.
On Sept. 4, Tulsa-based Williams’ market value was estimated at about $54 million and Houston-based Targa’s value was listed at $32 billion. A merger would likely have been the largest midstream deal of the year.
Last week, ONEOK acquired EnLink and Medallion in a deal totaling $5.9 billion.
Recommended Reading
Beth McDonald Appointed SM Energy COO
2024-09-09 - Beth McDonald joins SM Energy as its new executive vice president and COO, bringing with her about 20 years of experience as an executive at Pioneer Natural Resources.
Five Point Closes Infrastructure Fund with $1.4B in Commitments
2024-09-09 - Five Point Energy, which created newly public Permian Basin company LandBridge, said its Five Point Energy Fund IV was oversubscribed from a target of $1.25 billion.
Post Oak-backed Quantent Closes Haynesville Deal in North Louisiana
2024-09-09 - Quantent Energy Partners’ initial Haynesville Shale acquisition comes as Post Oak Energy Capital closes an equity commitment for the E&P.
Souki’s Saga: How Tellurian Escaped Ruin with ‘The Pause,’ $1.2B Exit
2024-09-09 - President Biden’s LNG pause in January suddenly made Tellurian Inc.’s LNG export permit more valuable. The company’s July sale marked the end of an eight-year saga—particularly the last 16 months, starting with when its co-founder lost his stock, ranch and yacht in a foreclosure.
Dividends Declared in the Week of Sept. 2
2024-09-06 - Here is a compilation of dividends declared by select E&Ps for third-quarter 2024.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.