Blackstone to Buy EagleClaw Midstream
EagleClaw Midstream Ventures LLC, the largest privately held operator of pipelines and processing facilities in West Texas' Delaware Basin, said it agreed to be bought by funds managed by Blackstone Group LP for about $2 billion. Private-equity funds, including Blackstone…
Blackstone to buy EagleClaw Midstream
EagleClaw Midstream Ventures LLC said on Monday it agreed to be bought by funds managed by Blackstone Group LP for about $2 billion. EagleClaw Midstream Ventures LLC, which owns and operates natural gas pipelines and processing facilities, said the all-cash deal includes about $1.25 billion in debt…
SM Energy to buy Permian Basin Stake
SM Energy Co said on Tuesday it would buy 35,700 net acres in West Texas's Howard and Martin counties for about $1.6 billion and sell its Williston Basin assets in North Dakota for $785 million to Oasis Petroleum Inc. SM Energy has been trying to boost its presence in the Permian basin…
Breitburn Skips Interest Payment as it Reviews Strategic Options
Breitburn Energy Partners LP said it has decided to suspend distributions on preferred units and defer interest payments as the company was in talks with secured debtholders. The oil and gas master limited partnership is the latest among a wave of cash…
Marathon's MLP to Acquire MarkWest Energy
Marathon Petroleum Corp's master limited partnership (MLP), MPLX LP, will acquire MarkWest Energy Partners LP for about $15.63 billion to add natural gas processing facilities to its portfolio. The deal is expected to create the fourth-largest MLP, based on a market value of $21 billion…
Oil Extends Slide as Traders Seek Fresh Leads on OPEC
Oil extended its slide on Tuesday as traders looked beyond price defense attempts by Russia and Venezuela and toward Saudi Arabia and OPEC for fresh leads on whether the cartel will cut production when it meets later this month. Saudi Arabia, the most powerful…
Oil Tumbles Anew as Saudi Cuts US Prices, Hikes Others
Oil tumbled by as much as $2 a barrel in the final minutes of regular trade on Monday, hitting new lows in New York as Saudi Arabia deepened price cuts for U.S. customers even though it hiked prices for the rest of the world. U.S. crude dove to its lowest since mid-2012…
Oil Continues to Show Gains in Corrective Move
Global crude oil continued to show modest gains on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk. Oil has lost more than a fifth of its value since June on heavy oversupply…
Sinking Oil Prices May Curb US Output Too Slowly for Saudis
Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year. Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in the United States…
U.S. Oil Output Cuts Could Take a While
Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year. Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in the United States…
Samson Energy to Sell $1 bln Gulf of Mexico Assets
Oil and gas explorer and producer Samson Energy Company LLC is selling its offshore Gulf of Mexico assets that could fetch more than $1 billion, according to people familiar with the situation. The Tulsa, Oklahoma-based company has tapped Jefferies LLC…
Devon Sells Gas Assets to Focus on Oil Production
Devon Energy Corp said it would sell its remaining non-core gas-rich properties to peer Linn Energy LLC for $2.3 billion to focus on more lucrative oil assets and cut debt. This is Linn's biggest deal since it bought Berry Petroleum Co in December through a holding company set up for acquisitions.
Halcon Provides Tuscaloosa Marine Shale Operational Update
Halcón Resources Corporation (NYSE: HK) ("Halcón"or the "Company") today provided an operational update related to its 314,000 net acre position in the Tuscaloosa Marine Shale ("TMS"). The Horseshoe Hill 11-22H-1 (92% WI) well in Wilkinson County, Mississippi…
Stalwart Tankers Postpones U.S. IPO
Greece-based chemical transportation company Stalwart Tankers Inc has postponed its U.S. IPO plans due to "market conditions," an underwriter told Reuters. The company filed with U.S. regulators in February to raise up to $100 million in an IPO of its common stock.
