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February 2019 Midstream Deals

As production in key locations continue to steadily grow, most midstream companies continued expanding their infrastructure to connect their major producing areas to the promising market delivery locations. Delaware saw most of this activity, where gathering infrastructure is still thought to be underdeveloped. Experts point out the proximity of Mexican and U.S. Gulf of Mexico market as well as growth of the U.S. exports capacity to be primary drivers of CAREX going into new projects.

For instance, see how Howard Energy Partners and NextEra Energy Partners connect their systems to reach both domestic downstream as well as exports market.

NextEra Howard NG Transportation Partnership in Delaware

Similar capital inflow was seen in Agua Blanca NG Pipeline Deal as First Infrastructure Capital Advisors increased its stake in the pipeline.

Agua Blanca NG Pipeline Deal

Another activity - not quite in Delaware but close enough - was seen at New Mexico - Texas border area, where Matador Resources continued expand its gathering, storage and processing facilities as it enetered the San-Mateo II JV, second one with Five Point Energy.

Matador develops its gathering systems

Rustle Break Asset Area Will Be an Expansion Hub

 

All the midstream sector February 2019 deals that drew our attention can be found in the table below.

More information still can be discovered with Rextag's Energy Datalink as well as with its GIS data services. Request a free-trial access with us today.

Date announced Buyer(s) Seller(s) Assets Location Deal Value Date closed
Feb 4, 2019 First Infrastructure Capital Advisors LLC WPX Energy Inc. 20% equity interest in WhiteWater Midstream’s 36-inch Agua Blanca natural gas pipeline (see the map) Delaware Basin $300 MM Expected to close 1Q 2019
Feb 4, 2019 First Infrastructure Capital Advisors LLC WhiteWater Midstream LLC, Denham Capital Management LP, Ridgemont Equity Partners WhiteWater Midstream wholly acquired including its 60% stake in Agua Blanca (see the map) Expected to close 1Q 2019
Feb 13, 2019 NextEra Energy Partners LP >Howard Energy Partners Formed JV to develop additional natural gas transportation opportunities in the Eagle Ford shale region of South Texas South Texas: Webb, Duval, Zapata, Dimmit, La Salle, McMullen, Live Oak and Jim Wells counties Undisclosed Feb 13, 2019
Oct 3, 2018 Salt Creek Midstream LLC, Ares Management LP ARM, Energy Holdings LLC Noble Midstream Partners LP Formed 50/50 JV partnership to develop a crude oil pipeline and gathering system Delaware Basin   Feb 8, 2019
Feb 19, 2019 The Blackstone Group LP, GSO Capital Partners LP Targa Resources Corp. 45% stake in Targa Badlands, which operates oil and gas gathering and processing assets (see the map) Bakken and Three Forks shale plays, Williston Basin of ND. $1,600 MM Expected to close 2Q 2019
Feb 25, 2019 Five Point Energy LLC, San Mateo Midstream LLC Matador Resources Co. Formed a new midstream JV, San Mateo II, to expand current gathering, processing and saltwater disposal capacity. 51% owned by Matador plus operational control Northern Delaware Basin Undisclosed Feb 25, 2019
Feb 26, 2019 Hess Infrastructure Partners LP Summit Midstream Partners LP Water gathering assets of the Tioga Gathering System in Williams County, Western ND. Williston Basin; Bakken $67 MM Expected to close 1Q 2019

A major U.S. shale oil producer is looking to start a land selloff in the lone star state

Pioneer Natural resources is looking to divest properties in the lone star state. According to Rextag, Pioneer’s Delaware assets on sale have a trailing 12 month production of just over 22 MBOE against a total Permian Basin production of almost 212 MBOE. (The sale, if it happens, will effectively lead to a 10% decrease of Pioneer’s asset base in terms of the previous year's production.)

Ain't Nothing Like a $2 Billion Deal: Oasis Sells Midstream Affiliate to Crestwood

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Crestwood & Oasis Midstream merge to create a top Williston #basin player. $1.8 billion deal is expected to close during the Q1 of 2022. The transaction will result in a 21.7% ownership stake for Oasis in Crestwood common units. The remaining ownership of Oasis in Crestwood will also be of benefit to the company since it will create a diversified midstream operator with a strong balance sheet and a bullish outlook after this accretive merger.

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On November 2, Cardinal Midstream Partners, an independent Dallas-based midstream energy company, concluded definitive agreements with Medallion Midstream Services to purchase Medallion’s natural gas gathering and processing business in the Delaware Basin in West Texas. The transaction is subject to customary closing conditions and is expected to close in early 2023.

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On October 19, Shell USA completed the almost $1.96 billion acquisition of the master limited partnership. The company paid $15.85 in cash for every common unit representing limited partner interests in SHLX not held by Shell USA or its affiliates. A subsidiary of Shell USA has 269,457,304 SHLX common units or roughly 68.5% of SHLX common units.

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A $3.0 billion cash definitive agreement to purchase the Eagle Ford assets of Ensign Natural Resources has been concluded by Marathon Oil Corporation on November 2.

2022 oil production A&D sector ANR Pipelines Abraxas Petroleum Acquisition Acquisitions Admiral Permian Resources Aera Energy Alberta Align Midstream LLC Alternative Fuels Ameredev II Anadarko Basin Analysis Analytics Antero Midstream Corp. Antitrust Appalachia to Market and Middlesex Extension project Appalachian Appalachian Basin Appalachian basin ArcLight Capital Partners ArcLight Capital Partners LLC Artesia Natural Gas Gathering and Processing System Asia Assets Acquisition Assets Revenue Assets Sale Assets Value Aviation emissions BOED BP BP Plc BPX Energy Baker Hughes Bakken Bakken Formation Bakken Shale Bakken shale Bankruptcy Bay du Nord Berkshire Hathaway Biodiesel Bison Midstream BridgeTex Broom Creek Formation Buyout Firms CCS CO2 reduction Canada Carbon Capture Carbon Footprints Carbon capture and storage Cardinal Midstream Partners Careers in O&G Carl Icahn Cenovus Centennial Resource Development Centennial Resource Development Inc. Cheniere Energy Cheniere Marketing Chesapeake Energy Corporation Chevron Chevron Corp. China Gas Holding LTD. Clean Energy Climate Change Coal Colgate Energy Colgate Energy Partners II LLC Colgate Energy Partners III Colorado Comisión Federal de Electricidad Comstock Resources Concho Valley Solar ConocoPhillips Co. Continental Resources Continental Resources Inc. Corpus Christi Costa Azul Credit Suisse Group Crescent Energy Crestwood Equity Partners Crestwood Equity Partners LP Crestwood Permian Basin Holdings LLC Crowheart Energy Crude Oil Crude Prices D-J Basin DCP DCP Midstream DJ Basin DUCs on the Rise Data Debt Restructuration Decarbonization Technology Decarbonized Fuel Delaware Delaware Basin Delaware basin Denver Devon Energy Diamondback Energy Diamondback Energy Inc. Dividends Dominion Energy Double E Pipeline DoublePoint Energy Downstream Market Driftwood Pipeline LLC Drilling Drilling Inventory E&P EIA EIEC EIG EP Energy ESG ESG performance ESG score Eagle Ford Eagle Ford M&As Eagle Ford Shale Earthstone Energy Inc. East Texas Elba Liquefaction Emissions EnCap Flatrock Midstream EnCap Investments EnVen Energy Corp. Enbridge Enbridge Inc Encap Flatrock Midstream Endeavor Gathering Energy Energy Assets Energy Crisis Energy Gas Energy Information Administration Energy Infrastructure Energy M&A deals 2022 Energy M&As Energy Prices Energy Production Energy Projects Energy Transfer Energy Transfer LP Energy Transport Solutions Ensign Natural Resources Enterprise Enterprise Product Operating LLC Enterprise Products Partners Environmental Protection Agency Equinor Energy Ireland Equitrans Midstream Corp. Equity Investments Ethanol Conversion Europe Evolution Petroleum Exaro Energy III Export Exxon Mobil Exxon Mobil Corp. 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Komipo America LEG project LNG LNG Delivery LNG Demand LNG Terminals LNG delivery LNG exports LNG plant LNG provider LNG-by-rail LP LaBarge Labrador Lake Charles Project Leasehold Properties Leucrotta Exploration Lime Rock Resources Line 3 project Liquefaction Plant Liquefied Natural Gas Liquefied natural gas Liquids and Natural Gas Pipelines LongHorn Louisiana Lucid Energy Group M&A M&As MLPs MPLX LP Magellan Magellan Midstream Partners Mainline Pipeline System Mancos Shale Marathon Oil Corporation Marathon Petroleum Marcellus Shale Marcellus region Mariner East Project Mariner east expansion Market Acquisition Of Vine Energy Inc. Matador Medallion Midstream Services Medallion Pipeline Merge Merger Merit SI Methane Emissions Mexico MiQ Mica Midcoast Energy LLC Midcontinent Midland Midland Basin Midstream Midstream M&As Midstream NG gathering pipelines Midwest Momentum Midstream LLC Monopoly Montana Montney Shale Motiva Enterprises Mountain Valley NG Pipeline Maps NG U.S. midstream data NG data NG data U.S. NG gathering pipeline systems NG pipeline maps NG3 NGL NGL Energy Partners NGL export NGL logistics NGL production NGLs NGO NGP NLG Natural Gas Natural Gas Assets Natural Gas Certification Natural Gas Equivalent Natural Gas Gathering Natural Gas Infrastructure Natural Gas Liquids Infrastructure Natural Gas Prices Natural Gas Production Natural Gas Products Navitas Midstream Net Acres Net-zero Production New Fortress New Jersey New Mexico Newco Newfoundland Noble Midstream Partners LP Non-Operated Assets North Dakota North-East Northern Oil and Gas Nuevo Midstream O&G O&G Production O&G output records O&G production forecasting Oasis Midstream Partners Oasis Petroleum Oasis Petroleum Inc. 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Shell UAS Sierra Grande Silver Hill Energy Partners III Sinochem Group Sour crude South Carlsbad Natural Gas Gathering System South Haynesville Basin Southcross Energy Southeast Gateway Southern Access expansion Southern Lights Pipeline Southwest Gas Spain Steel Reef Infrastructure Corp. Sterling DJ Stock Market Strategic Petroleum Reserve Strategic Resources Stronghold Energy Summit Midstream Summit Midstream Holdings Summit Midstream Partners Summit Midstream Partners LP Summit’s Lane System Sunrise Oil Sands TC Energy TC Energy Corp. TC PipeLines LP THQ Appalachia Tailwater Capital Takeaway Talos Energy Inc. 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