Parsley Energy to acquire Jagged Peak for $2.27bn
Parsley Energy signed a definitive agreement to acquire Jagged Peak Energy in an all-stock deal worth $2.27bn.
The deal also includes Jagged Peak’s debt of $625m as of 30 June.
Under the terms of the merger, Jagged Peak shareholders will receive 0.447 Parsley shares for each Jagged Peak share they own.
Dominion Energy to sell 25% stake in Cove Point for $2bn
US-based energy transmission and production company Dominion Energy signed a deal with Brookfield Super-Core Infrastructure Partners to sell a 25% stake in Cove Point for more than $2bn in cash.
The deal excludes working capital and has an implied enterprise value of $8.22bn.
The development comes as part of Dominion Energy’s previously announced plans on the recapitalisation of Cove Point, which has a 136-mile pipeline that connects the facility with the interstate pipeline system.
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By GlobalDataTotal to acquire 37.4% stake in Adani for $600m
French multinational integrated oil and gas company Total signed an agreement to acquire a 37.4% stake in Indian firm Adani for $600m.
The deal is part of Total’s strategy to supply and market natural gas in India.
This development gives Total joint control of Adani Gas and is considered to be the largest foreign direct investment in the country’s city gas distribution segment.
Halliburton to supply Cloud-based solution for Repsol’s E&P activities
US-based oil field service company Halliburton signed an agreement to provide a Cloud-based master data management solution for Spanish energy firm Repsol’s exploration and production (E&P) activities.
As part of the multi-year contract, Halliburton will provide software-as-a-service (SaaS) solution for Repsol’s activities.
According to Halliburton, SaaS enables users to load, ingest, manage and access log, well and other E&P data throughout various locations in Repsol’s asset portfolio.
Pertamina-Rosneft JV signs contract for Tuban refinery in Indonesia
The PT Pertamina Rosneft Pengolahan dan Petrokimia joint venture (JV) signed a contract with Tecnicas Reunidas to design a refinery in Tuban.
Under the contract, Tecnicas Reunidas will carry out the basic engineering design (BED) and front-end engineering design (FEED) for the construction of the Tuban grass root refinery and petrochemical complex (TGRR) in East Java, Indonesia.
The JV comprises Rosneft and Indonesian company Pertamina. The former owns a 45% stake in the JV, which was established according to an agreement signed in October 2016, while the remaining interest is held by Pertamina.
Petrobras advances refineries divestment programme
Brazilian oil company Petrobras started the non-binding phase for the sale of its refineries in the country as part of its previously announced plans.
The divestment includes the sale of the Isaac Sabbá Refinery (REMAN) in Manaus, Amazonas State, and Northeast Lubricants and Oil Derivatives (LUBNOR) in Fortaleza, Ceará.
Also included in the divestment programme is Shale Industrialization Unit (SIX) in Paraná and other associated logistics assets.
Seplat Petroleum to acquire Eland Oil & Gas for $484m
Nigeria-based Seplat Petroleum signed an agreement to acquire oil and gas production and development company Eland Oil & Gas for £382m ($484m).
The deal comes as part of Seplat’s move to become Nigeria’s biggest independent exploration and production (E&P) company.
Seplat’s acquisition includes Eland’s main asset, the OML 40 licence in the Niger Delta, which would enable the company to boost production to 64,000boe/d.
FERC approves Williams’ Southeastern Trail expansion project in US
US-based energy firm Williams received approval from the Federal Energy Regulatory Commission (FERC) for the Southeastern Trail expansion project.
FERC issued a certificate of public convenience and necessity to the company authorising the project.
The project was designed to serve the growing demand for natural gas for Williams’ Transco pipeline markets in Mid-Atlantic and Southeastern US.
