PetroLogistics Contract Goes to McDermott
Texas-based PetroLogistics II, a portfolio company of Quantum Energy Partners, has awarded McDermott International, Inc. a contract to provide front-end engineering design (FEED) services for a new U.S. Gulf Coast propane dehydrogenation (PDH) plant.Under the scope of the contract, McDermott will assist in the development of a PDH plant to be constructed on the U.S. Gulf Coast.
Noble to Sell 50% Stake in Cone Gathering
U.S. oil and gas producer Noble Energy Inc said on Thursday it would sell its 50 percent stake in privately held Cone Gathering LLC along with 21.7 million units to Quantum Energy Partners for $765 million in cash. The limited partnership units represent a 33.5 percent ownership interest in Cone Midstream Partners LP, which owns natural gas pipelines, the company said.
Freeport to Sell California Energy Assets for Up to $742 mln
Freeport-McMoRan Inc said on Friday it will sell onshore California oil and gas assets to Sentinel Peak Resources California for up to $742 million, part of the world's biggest listed copper miner's push to trim its multi-billion dollar debt. Hard hit in recent years by a downturn in commodity prices, Phoenix-based Freeport is under pressure from activist investor Carl Icahn…
Private Equity Mulls U.S. Energy IPOs
Private equity funds are looking to sell shares in two U.S. energy companies, people familiar with the plans said this week, deals that could end a year-long drought for Initial Public Offerings (IPOs) in the oil and gas sector. Denver-based Extraction Oil & Gas LLC, an oil explorer and driller in Colorado's Denver-Julesburg (DJ) basin backed by private equity firm Yorktown Partners LLC…
Vantage Energy files for IPO of about $400 mln
Oil and gas company Vantage Energy Inc filed with U.S. regulators on Monday to raise about $400 million in an initial public offering of common stock. Vantage, focused on the Marcellus shale in the Appalachian Basin and the Barnett shale in Texas, counts private equity firms Quantum Energy Partners, Riverstone Holdings and Lime Rock Partners among its stockholders.
