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$ENB and $SE said their merger has received all regulatory clearances under the merger agreement. Trading in shares of $SE on the NYSE will be suspended effective on Feb. 27, 2017. $SE's common shares will be delisted from the NYSE and will be de-registered under the U.S. Securities Exchange Act of 1934.
Energy company $CRZO has closed the sale of its assets in the DJ Basin for about $123MM, as part of a debt reduction initiative. As per the deal, Carrizo could receive contingent payments of up to $15MM based upon crude oil prices exceeding certain thresholds over the next three years. The proceeds from the sale will be used for repaying loans.
$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.
$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.
$CRZO has agreed to divest a portion of its assets in the Eagle Ford Shale for $245MM in cash. The divested assets include approx. 24,500 net acres, located primarily in the downdip area of the volatile oil window, and had associated net production during 3Q17 of approx. 3,400 Boe/d. The transaction is expected to close by the end of Jan. 2018.
$HES completed the sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for $650MM. These proceeds, along with cash on balance sheet, will enable to prefund $HES’ investment opportunity in Guyana, increase its rig count in the Bakken in 2018, return capital to shareholders and reduce debt.
$AEP promoted Ashley Weaver to VP, Operations and Performance Transformation, with responsibility for leading its continuous improvement efforts, effective Jan. 3, 2018. She will replace Barbara Radous, SVP, who is retiring from the company. Weaver has served as director of Operations and Performance Transformation since 2012.
On the Atlantic Sunrise project, $WMB stated that the construction has started on the Central Penn line, which is a key greenfield project. The company is targeting to complete the work by mid-2018 including its compressor stations. $WMB now expects the capital expenditures for FY2017 to be around $2.6Bil.