Chevron to acquire PDC Energy
SAN RAMON, Calif. — Chevron Corporation has entered into a definitive agreement with PDC Energy Inc. to acquire all the outstanding shares of PDC in an all-stock transaction valued at $6.3 billion, or $72 per share. The total enterprise value, including debt, of the transaction is $7.6 billion. The acquisition of PDC provides Chevron with […]
INEOS completes major $1.4 billion acquisition
LONDON — INEOS Energy has completed the acquisition of a major tranche of Chesapeake Energy’s O&G assets in the Eagle Ford Shale in South Texas for $1.4 billion. The deal marks INEOS Energy’s entry as operator into the U.S. onshore O&G market, as it acquires 2,300 wells, producing net of 36k boe/d. The acquisition, which […]
Enbridge to acquire Aitken Creek natural gas storage
CALGARY, Alberta — Enbridge has entered into a definitive agreement with FortisBC Holdings Inc. to acquire its interest in FortisBC Midstream Inc., which holds a 93.8% interest in Aitken Creek Gas Storage facility and a 100% interest in Aitken Creek North Gas Storage facility for $294.68 million, subject to customary closing adjustments. Aitken Creek Storage […]
LyondellBasell, Veolia restructure recycling JV
ROTTERDAM, Netherlands — LyondellBasell and Veolia Belgium have signed an agreement to restructure the ownership of Quality Circular Polymers (QCP) BV recycling facilities, with locations in Belgium and the Netherlands. Veolia will sell its 50% share to LyondellBasell, which will become 100% owner of QCP. With full ownership of QCP, LyondellBasell is progressing its strategy […]
ONEOK to acquire Magellan Midstream Partners
TULSA, Okla. — ONEOK Inc. and Magellan Midstream Partners L.P. have executed a definitive merger agreement under which ONEOK will acquire all outstanding units of Magellan in a cash-and-stock transaction valued at approximately $18.8 billion including assumed debt, resulting in a combined company with a total enterprise value of $60 billion. “ONEOK has a long […]
DuPont to acquire Spectrum Plastics Group from AEA investors
WILMINGTON, Del. — DuPont has entered into a definitive agreement to acquire Spectrum Plastics Group from AEA Investors. The transaction is expected to close by the end of the third quarter of 2023, subject to regulatory approvals and other customary closing conditions. Spectrum is a recognized leader in advanced manufacturing of specialty medical devices and […]
Conco Services announces acquisition of Blue Wolf Performance Solutions
PITTSBURGH, Pa. — Conco Services LLC (Conco), a Rising Point Capital portfolio company, has announced the acquisition of Blue Wolf Performance Solutions (Blue Wolf) and its subsidiaries from Dorilton Capital Management. Blue Wolf subsidiaries include Aqua Drill International, Hennigan Engineering, National Heat Exchange, Reliable Industrial Group and Hydrocarbon Filtration. Conco will integrate all Blue Wolf […]
PSC Group acquires Steel Line Rail Services
PASADENA, Texas — PSC Group, a North American leader in product handling, site logistics, railcar repair and sustainability services for the petrochemical, refining and marine industries, has acquired the assets of Steel Line Rail Services, a leading provider of mobile railcar repair, inspection and valve maintenance services for the petrochemical, refining and railcar leasing industries […]
Cautious money looks for profitable deployment amidst rising rates
It is hard to say which analyst said it first, but amidst the March banking crisis, someone stated that we are not witnessing a bank “run,” we are seeing a bank “walk.” Banks and other financial institutions such as brokerage firms spent a decade or more making a living from zero interest rate policy, which […]
