If the talks are successful, the deal would help natural gas producer EQT slash the debt pile it accumulated from its acquisition of pipeline operator Equitrans Midstream earlier this year.
The network will carry captured carbon from the Houston Ship Channel to a southeast Texas sequestration hub.
Despite a smaller IPO market and a fiscal discipline mandate, many small players continue to find and make deals in the U.S. oil patch, panelists said during Hart Energy’s A&D Conference in Dallas, Texas.
MidOcean Energy now holds a 35% stake in Peru LNG. Hunt Oil will remain the operator of the South American export facility.
A shrinking pool of opportunities is leading to scarcity and driving the rising valuations for crude E&Ps in the current A&D market, said TD Cowen analyst David Deckelbaum at Hart Energy’s A&D Strategies and Opportunities Conference.
Adding new-well inventory going forward will require “exploration or other creative measures,” said Nick O’Grady, whose Northern Oil and Gas holds interests in 10,000 Lower 48 wells.
Northern Oil and Gas CEO Nick O’Grady said the Uinta Basin has stayed off the radar but a time may come when Utah’s best kept secret starts to heat up in the M&A market.
Shell already had a market agreement with RISEC Holdings for all of the electricity the 609-MW Rhode Island plant produced.
U.S. energy pipeline operator Enterprise Products is not considering adding a new crude oil line in the Permian Basin after consolidation has concentrated output into the hands of E&Ps promising fiscal discipline.
KKR will buy nearly a quarter of Eni’s Enilive, which values the biofuels unit at about $12.7 billion.