US oil and gas merger mania extends to the midstream

Pipeline operators are also embarking on a merger spree in a quest to add scale, optimize assets, and gain more exposure to export markets.
  • The merger mania in U.S. oil has spread to midstream. 
  • Occidental Petroleum, which has recently announced a $12-billion deal to buy CrownRock, is now considering a sale of its $20 billion natural gas pipeline operator Western Midstream Partners.
  • Last year, ONEOK said it would buy Magellan Midstream Partners in a cash-and-stock deal valued at $18.8 billion, creating a combined U.S. oil and gas pipeline giant with a total enterprise value of $60 billion.

While the upstream mega deals in the U.S. shale patch have been drawing the most market attention, pipeline operators are also embarking on a merger spree in a quest to add scale, optimize assets, and gain more exposure to export markets.

Click here to read the full article
Source: Oil Price

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

You might also like
Chevron Corp. beat earnings estimates and raised dividends after posting record oil and natural gas production.Chevron beats earning estimates following “record” oil and gas production
In 2023, upstream oil and gas saw significant increases in hiring with the job count growing by 15,300 jobs for the year.Oil & gas jobs in Texas continued strong growth to close out 2023
U.S Natural Gas Power Is Booming Thanks to AIU.S Natural Gas Power Is Booming Thanks to AI
BP expects high levels of upstream production and a strong performance from its trading business will help it offset the negative impacts of lower oil and gas pricesBP says high production and strong trading will offset oil and gas price slump
Discover the nuances of oil and gas exploration land leasing—federal vs. private. Explore regulatory frameworks, benefits, challenges, and environmental considerations for informed decision-making.Leasing federal vs. private land for oil and gas exploration
Oil and gas mergersOil and gas mergers total $250 billion in just 12 months
American oil and gas companies have cut back on methane emissions even as production reached record heights, a new analysis shows.US oil and gas industry is emitting less carbon than it used to
About $8.5 billion was deposited into two key state funds that wouldn’t exist without oil and natural gas production tax revenue.$8.5 billion to highway, rainy day funds financed by Texas oil and gas industry
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *