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, the companies said on Monday. MLPs, under pressure to keep growing dividends to investors, are increasingly consolidating. The deal comes less than a month after Energy Transfer Equity's unsolicited $48 billion offer for Williams Cos Inc.
Ocean Rig Partners Files for IPO
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) for the initial public offering of its common units representing limited partner interests. A registration statement relating to the MLP’s common units has been filed with the SEC but has not yet been declared effective.
Max Petroleum Says Reviewing Strategic Ooptions
Oil and gas company Max Petroleum Plc said it was reviewing strategic options, including a sale. The London-listed firm, which has majority of its operations in Kazakhstan, said it had appointed Blackstone Group International Partners LLP as the exclusive financial adviser to conduct the formal sale process. The strategic review follows a tumultuous few months where it has slashed its full-year production target, implemented cost cuts and has seen large shareholders - UBS Investment Bank and Henderson Global Investors - drastically reduce their stake in the company.
