MI - EQM still optimistic on Mountain Valley completion in 2020 - May 2020Diana Charletta, president and COO of EQM Midstream Services, told analysts that there was still a “narrow path” to complete the $5.4 billion Mountain Valley natural gas pipeline this year if FERC agrees to lift a halt-work order and the partnership gets resolution on the Nationwide Permit 12 vacatur by July. On the same May 14 conference call, CEO Thomas Karam suggested that applying for individual permits rather than relying upon the blanket Permit 12 would expedite the process. “Every...
May 27, 2020
MI - EQM to add Utica and Marcellus systems in $1B deal - March 2019EQM Midstream Partners entered into a definitive agreement to acquire control of two gas gathering systems in the Utica and Marcellus that can be bolted onto EQM’s existing network. The seller, a fund managed by Morgan Stanley Infrastructure Partners, willreceive $860 million cash for a 60% interest in Eureka Midstream Holdings and a 100% interest in Hornet Midstream Holdings. Including assumed pro rata debt of $170 million, the transaction is valued at $1.03 billion.The deal also...
Mar 19, 2019
Egypt awards 12 blocks to IOCs in largest-ever O&G tenderIn Egypt’s largest-ever oil and gas exploration tender, Egyptian General Petroleum
Corp. awarded 12 exploration blocks in the Western Desert, Nile Valley, Gulf of Suez and
Eastern Desert regions. Egypt expects investments of $750-800 million in the first exploration
stage in the 12 concessions awarded, petroleum minister Tarek El Molla said.
Shell was awarded the most blocks, snatching up five onshore and two
offshore concessions, while ExxonMobil made its debut in the North...
Feb 13, 2019
Equitrans acquires remaining EQGP stake for $601MMEquitrans Midstream Corp , which completed its spinoff from EQT Corp. on Nov. 13, announced that it would acquire the remaining 8.7% interest in EQGP Holdings, LP, the general partner of EQM Midstream Partners, for $20 per unit in cash, or $601 million total including debt. Equitrans also made a proposal to EQM to exchange its incentive distribution rights and economic GP interest for 95 million EQM units valued for $4.79 billion and a non-economic GP...
Dec 12, 2018
Mountain Valley Pipeline looks to extend into NCThe Mountain Valley pipeline is heading into North Carolina, with a firm commitment from PSNC Energy. The EQT Midstream Partners-led joint venture behind the MVP has launched a binding open season for the new MVP Southgate.The 2.0 Bcf/d MVP was already the major project under construction for EQM, with the company responsible for about $1.5 billion of the $3.5 billion price tag. The pipeline will take gas from EQM’s Equitrans system in northwestern West Virginia and send it 303 miles to...
May 01, 2018
EQM growth opportunities enhanced through Rice dealThe growth profile of EQT Midstream Partners (EQM) was significantly enhanced as a result of parent EQT Corp.’s $8.2 billion acquisition of peer driller Rice Energy in mid-June. When the deal closes, EQT will control the fourth-largest gas-gathering system in the US. The company said that the same land synergy that benefits its upstream operations will complement its midstream business, which will be boosted by a larger inventory of dropdown assets available and new organic growth projects....
Jul 06, 2017
Canadian Capital - People & Companies - February 8, 2017Blue Sky Energy appointed Pierre Pettigrew to the board of directors, effective Jan. 25. From 1996-2006, Pettigrew led a number of senior departments within the Canadian government. Since 2016, he has been the special envoy of the Canadian government to the European Union in respect of the Comprehensive European Trade Agreement. Chinook Energy announced that directors Donald Archibald, Matthew Brister and Stuart Clark will not stand for reelection at the company’s annual meeting on...
Feb 08, 2017
Caledonian offers asset package spread across AlbertaLooking to unload assets acquired in 2012 via the takeout of Lario Oil & Gas, Caledonian Royalty Corp. has retained Sayer Energy Advisors to market assets spread across Alberta. Combined production from the interests is 285 boe/d with total 2P reserves of 1.2 MMboe. The reserve life index amounts to 12.4 years because of low decline rates for the assets consisting of interests in pools. Most of the production and value is in west-central Alberta, where the company holds interests in...
Nov 14, 2015
Crescent Point closes $1.5 billion Legacy acquisitionThe all-stock buyout of Legacy Oil + Gas by Crescent Point Energy for a total of $1.53 billion has closed. Crescent Point exchanged 0.095 shares for each of the almost 200 million outstanding Legacy shares, amounting to an equity value of $569 million. Crescent Point also assumed Legacy’s net debt of $967 million. Based on Crescent Point’s closing price on May 25, the offer represented a 4.6% premium over the 30-day weighted average share price of Legacy and a 24.5% premium over the company’s...
Jun 30, 2015
Crescent Point strikes deal to buy Legacy for $1.5 billionFor the second year in a row Crescent Point Energy has made a major spring acquisition, this time buying Legacy Oil + Gas for a total of $1.53 billion. Crescent Point is offering 0.095 shares for each of the almost 200 million outstanding Legacy shares, amounting to an equity value of $569 million. Based on Crescent Point’s closing price on May 25, the offer represents a 4.6% premium over the 30-day weighted average share price of Legacy and a 24.5% premium over the company’s 60-day weighted...
May 27, 2015
CM - Midstream Briefs - October 04, 2018DCP Midstream, LP priced an
offering of 4.0 million 7.95% Series
C fixed-to-floating rate cumulative
redeemable perpetual preferred units at
$25 each, and granted
underwriters a 600,000-
unit overallotment option. The offering is
expected to close Oct. 4 and DCP expects
net proceeds of about $96.1 million from
the sale to be used for general partnership
purposes, including capex funding and
the repayment of revolver debt. Joint
bookrunners are RBC, Merrill Lynch, JP
Morgan and Wells Fargo....
Oct 04, 2018
A&D News Briefs - June 14, 2017Alpha Natural Resources has sold all of the assets of two separate operations, the Green Valley coal mining complex and the New River Energy natural gas operation, both located in central West Virginia. Kinzer Drilling is acquiring the natural gas operation, which includes 120 producing gas wells in five counties. Quinwood Coal Company is the buyer of the mining assets in Nicholas and Greenbrier Cos., which include the Number 1 preparation plant and related permits that have been idled since...
Jun 13, 2017
People Briefs - February 15, 2017Chinook Energy’s directors Donald Archibald, Matthew Brister and Stuart Clark will not stand for re-election at the company’s annual meeting in May. The remaining independent directors—Jill Angevine, Robert Herdman, Robert Iverach and Grant Wierzba—will stand for re-election. President and CEO Walter Vrataric has been nominated by the board to stand for election as a nominee director at the meeting.John Behr was appointed Delphi Energy Corp.’s VP of geosciences, representing a promotion...
Feb 15, 2017
A&D News Briefs - August 04, 2015Bonavista Energy Corp. has picked up an additional 16,000 net acres at Ansell in west-central Alberta in exchange for 10,880 net acres of low working interest, non-operated leasehold in the Blueberry area of northeast British Columbia. Bonavista now has 58,200 net acres at Ansell with 150-200 identified drilling locations. Development targets Spirit River gas. Bonavista plans to allocate all of its $49.5 million Deep Basin capex to development at Ansell, including infrastructure spending of $8...
Aug 04, 2015
People Briefs - May 19, 2015BP has added John Sawyers and Paula Rosput Reynolds to its board as non-executive directors. Sawyers formerly ran Britain’s MI6 service from 2009 until retiring last November. In total, Sawyers spent 36 years working for the British government in international affairs and security including stents in Iraq, Egypt, South Africa and the US. He was an ambassador to the UN and Egypt and was a special representative to Iraq. Reynolds began her career as an economist before spending 25 years in the...
May 19, 2015