Morgan Stanley Infrastructure entered an agreement to acquire co-control ownership of Eureka Hunter Holdings LLC with Magnum Hunter Resources Corp. (NYSE: MHR), a press release from Morgan Stanley said Sept. 16.
Morgan Stanley Infrastructure and Magnum Hunter will control the governance and economic interest of Eureka Hunter Holdings, which gathers Marcellus and Utica shale gas, the press release said.
Eureka Hunter’s capital structure was modified, the press release added.
Magnum Hunter and Ridgeline Midstream Holdings LLC, the initial stake seller, concluded the transaction. Ridgeline is a portfolio company of Boston-based ArcLight Capital Partners LLC, the press release noted.
Houston-based law firm Vinson & Elkins advised Morgan Stanley Infrastructure, the press release said.
Morgan Stanley Infrastructure is part of Morgan Stanley Merchant Banking & Real Estate Investing, the direct private investing group of New York-based financial services firm Morgan Stanley.
Recommended Reading
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Endeavor Integration Brings Capital Efficiency, Durability to Diamondback
2024-02-22 - The combined Diamondback-Endeavor deal is expected to realize $3 billion in synergies and have 12 years of sub-$40/bbl breakeven inventory.
Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations
2024-02-19 - Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.