Enable Midstream Partners LP has agreed to acquire Align Midstream LLC from Tailwater Capital LLC for a purchase consideration of approximately $300m.
Align Midstream’s assets include approximately 190mi (306km) of natural gas gathering pipelines across Texas and Louisiana, as well as a 100Mmcfd cryogenic natural gas processing plant in Panola, Texas, US.
Simmons & Company International is the financial advisor, while Locke Lord LLP will act as the legal advisor to Align Midstream for the transaction.
The acquisition will help Enable Midstream to expand its midstream operations in the Ark-La-Tex Basin.
Sunway International Holdings Limited, through its subsidiary Sunway New Energy Industry Group Limited, has agreed to acquire 100% stake in Sino New Energy International Limited from Divine Lands International Gas Holdings Group Limited.
Sino New Energy owns 51% equity interest in Shaanxi Ranchao Energy Technology Company Limited.
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By GlobalDataShaanxi Ranchao Energy distributes piped gas to domestic, commercial and industrial users. It also owns and operates various re-fuelling stations in the People’s Republic of China.
The transaction will allow Sunway International to expand its operations into new business segments.
Dover Corporation has begun seeking potential buyers for its upstream energy business comprising Dover Artificial Lift, LLC, Dover Energy Automation, LLC, and US Synthetic Corporation.
Dover Artificial Lift offers a full range of artificial lift equipment and solutions, while Dover Energy Automation specialises in the provision of wellsite productivity software, equipment and Industrial Internet of Things (IIoT) solutions.
US Synthetic supplies polycrystalline diamond cutters for oil and gas exploration.
Dover has appointed Lazard Ltd and Centerview Capital Holdings LLC as financial advisors and Simpson Thacher & Bartlett LLP as legal advisor for the transaction.
The divestment forms part of the company’s strategy of investing in attractive industries with greater stability and strong growth prospects.
Manitok Energy Inc, through its subsidiary 2065718 Alberta Inc, has agreed to acquire of 100% stake in Corinthian Oil Corp for the sum of $2.55m.
The purchase consideration will be funded via the issuance of shares to the target company’s shareholders.
Corinthian Oil’s assets include approximately 120,000 acres of land in the Heathdale area of southern Alberta, which are estimated to hold proved and probable reserves of 1.85Mmboe.
The production from the assets is estimated to be approximately 180boed.
The acquisition will allow Manitok Energy to expand its oil and gas asset base in Alberta.