Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
TOP Secret deal: an asset acquisition by Superior Pipeline was made in complete anonymity11/15/2021
Who is the mysterious seller: Durango or Tenawa? We shall see.
It has been announced that Superior Pipeline Co. LLC was successful in its purchase of natural gas gathering and processing assets in central Kansas. These assets consist of a 1,620-mile gathering system and an 85 MMcf/d cryogenic processing plant. No financial details of the deal have been disclosed as of yet.
At least for now, it remains unclear who is the other party in this transaction. In a bid to amend this secret, we narrowed the circle of likely suspects with the help of our market data to just two of them: Durango and Tenawa. According to our maps, they both suit the profile perfectly. Yet further investigation is needed.
As of Nov. 1, 2021, the acquisition became financially effective. Superior's existing infrastructure in the area will be majorly complemented by it: with the added capacity, the company will be able to serve more operators in the Midcontinent, which should expand its customer base.
According to Bill Ward, the company's senior vice president of commercial activities, this acquisition is one more step in Superior Pipeline's growth strategy that aims to consolidate synergistic assets in its core area in order to increase value for shareholders.
As for Superior Pipeline Co. LLC itself, this midstream energy company boasts full-service capabilities for natural gas gathering, handling, compression, dehydration, transportation, and marketing of natural gas and NGL.
Superior's expanding operations are spread all across the Texas and Oklahoma panhandle, Central-Western Oklahoma, Southeast Oklahoma, Southeast Texas, and the Appalachian region which includes Pennsylvania and West Virginia. Its midstream service volumes exceed 465 MMcf/d, while throughput volumes of NGL are way over 700,000 gallons/day already. And those numbers are only set to expand thanks to the mentioned transaction.
This secretive company is a joint venture, owned equally by Unit Corporation and SP Investor Holdings, LLC, a holding company, which simultaneously belongs to OPTrust and Partners Group, a global private markets investment manager.
If you are interested in analyzing any other industry deal that others preferred to leave undisclosed, our intel is here for you. Please, connect with our Houston sales office to see it for yourself.
Tel. +1 713-203-3128
TC Energy, the Canadian gas giant, recently announced its environmental, social, and governance goals, as well as emission reduction strategies. The company aims to become 100% emission-free by 2050 while promising to cut greenhouse gas emissions intensity from its operations by 30% by 2030 as an interim measure.
Expansion Is The Goal: Ironwood II Completes Asset Merger And Assumes Management of Nuevo Midstream Dos’ Eagle Ford Assets
Ironwood Midstream expanded its operations in the Eagle Ford region through its merger with Nuevo Midstream. Thanks to this, Ironwood II has increased its crude oil and natural gas throughput capacities in the famous shale to approximately 400,000 bbl/d and 410 MMcf/d, respectively. With 390 miles of pipelines, the company manages 245,000 acres of dedicated land.
In order to sell its part of the sprawling Eagle Ford Shale acreage, Chesapeake Energy Corp. on January 18 concluded an agreement to trade its Brazos Valley region assets to WildFire Energy I LLC for $1.425 billion.
On January 6, Phillips 66 announced that it plans to acquire more than 43% of DCP Midstream LP for $3.8 billion, expanding the business in the oil & gas business.
On January 5 Northern Oil & Gas (NOG) concluded a deal to acquire working interests in Midland-Petro D.C. Partners LLC (MPDC)'s Mascot Project in the Midland Basin, according to a January 9 press release. Firstly estimated at $330 million in cash, the deal was signed with an additional 3.25% working interest added to the 36.7% agreed upon when the transaction was announced on October 19. NOG paid $29 million more for the additional interests, which now totalled 39.958%. Finally, the deal closed for $320 million in cash and $43 million in debt at signing in October with the finance of Minnetonka, Minn.-based NOG with cash on hand, operating free cash flow, and assistance from its revolving credit facility.