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$ENB and $SE agreed to merge. $ENB expects the Transaction to be neutral to its 12-14% secured adjusted cash flow from operations per share CAGR guidance through the 2014-2019 time period, and strongly additive to its growth beyond that timeframe. $ENB expects to divest of about $2Bil of non-core assets over next 12 months.
Ahead of its quarterly earnings announcement, scheduled for February 22, 2017, oil exploration company $APA said it expects adj. international production to be in the range of 138,000 to 140,000 BOE per day in 4Q17. In the US, production is currently estimated to be at the high end of the company's guidance range of 218,000 to 224,000 BOE per day.
$WPZ's Transco pipeline delivered 15.58MM dekatherms of natural gas on Jan. 5, 2018. The Transco system, which stretches from South Texas to New York City, also established a new three-day market area delivery record, averaging 14.90 MMdt from Jan. 4 to Jan. 6, 2018.
Electricity utility company $SRE has commenced separate offerings of $2.5Bil of its common shares and $1.5Bil of its Series-A Convertible Preferred Stock. Sempra intends to use the net proceeds from the offerings and the related sale of shares to finance, in part, its proposed merger with Energy Future Holdings Corp. and related costs and expenses.
$PCG's BoD determined to suspend the quarterly cash dividend on its common stock, beginning with 4Q17, citing uncertainty related to causes and potential liabilities associated with the extraordinary October 2017 Northern California wildfires.
$COG agreed to sell its operated and non-operated Eagle Ford Shale assets to an affiliate of Venado Oil & Gas LLC for $765MM. This transaction is expected to close during 1Q18. Separately, the company announced the sale of its remaining East Texas assets to an undisclosed buyer that is expected to close on or before July 1, 2018.
$AES agreed to sell its equity interest Masin-AES Pte. to SMC Global Power Holdings. SMC Global Power is also purchasing the remaining 49% equity interest in the same assets, held by Electricity Generating Public Co. for $850MM. The transaction has a total enterprise value of about $2.4Bil.
The Federal Energy Regulatory Commission has granted approval for the acquisition of Energy Future Holdings Corp., which owns majority stake in Oncor Electric Delivery Company, by $SRE. The closure of the transaction is subject to various regulatory approvals. The company did not reveal the financial terms of the deal.
Pacific Gas and Electric Co., a subsidiary of $PCG, strengthened its commitment to a clean energy future with the presentation of six energy storage contracts totaling 165 megawatts (MW) to the California Public Utilities Commission for review and approval on Dec. 1, 2017.