Vinson & Elkins advised Foresight Reserves, LP, owner of Foresight Energy GP LLC, in an agreement with Murray Energy to acquire a controlling interest in Foresight Energy LP and Foresight Energy GP, to create the premier coal mining company in the U.S. The company will control over nine billion tons of coal reserves and will be one of the leading coal companies in the world (more…)
Valero Energy Corporation (NYSE: VLO) entered into a drop-down transaction with Valero Energy Partners LP (NYSE: VLP), pursuant to which VLP acquired membership interests in certain subsidiaries of VLO for total consideration of about $671 million, including approximately $100 million of common and general partner units of VLP.
Akin Gump advised the conflicts committee of the board of directors of Rose Rock Midstream, L.P.’s general partner in the partnership’s $325 million purchase of the remaining crude oil assets of SemGroup Corporation, which include the Wattenberg Oil Trunkline System and SemGroup’s 50 percent interest in the Glass Mountain Pipeline. (more…)
Columbia Pipeline Partners LP (the “Partnership”), a NiSource Inc. (NYSE: NI) company, today announced the pricing of its initial public offering of 46,811,398 common units representing limited partner interests in the Partnership at $23.00 per common unit. The Partnership has also granted the underwriters a 30-day option to purchase up to an additional 7,021,709 common units. The common units are expected to begin trading on the New York Stock Exchange (NYSE) on February 6, 2015 under the symbol “CPPL.” The offering is expected to close on February 11, 2015, subject to the satisfaction of customary closing conditions. (more…)
The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together “EnLink”), announced a definitive agreement to acquire Coronado Midstream Holdings LLC (“Coronado”), which owns natural gas gathering and processing facilities in the Permian Basin, for approximately $600 million, subject to certain adjustments (more…)
Regency Energy Partners LP (NYSE: RGP) and Energy Transfer Partners, L.P. (NYSE: ETE) announced a definitive agreement under which Regency and Energy Transfer Partners will combine in a unit-for-unit transaction plus a one-time cash payment to Regency unitholders that collectively implies a value for Regency of approximately $18.0 billion, including the assumption of net debt of $6.8 billion. (more…)
Paul Hastings LLP, a leading global law firm, announced today that the firm represented J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets, Inc., RBS Securities Inc. and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A., as the administrative agent, in connection with a $3 billion revolving credit facility and a $2 billion 364-Day revolving credit facility for Anadarko Petroleum Corporation. (more…)
Bracewell & Giuliani LLP is representing Kinder Morgan, Inc. (NYSE: KMI) in connection with its agreement to acquire Hiland Partners from its founder, Harold Hamm, and certain Hamm family trusts, for a total purchase price of approximately $3 billion, including the assumption of debt.
The purchased assets consist of crude oil gathering and transportation pipelines and gas gathering and processing systems, primarily serving production from the Bakken Formation in North Dakota and Montana. (more…)
The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together “EnLink”), today announced that a subsidiary of the Partnership has signed a definitive agreement to acquire LPC Crude Oil Marketing LLC (“LPC”), which has crude oil gathering, transportation and marketing operations in the Permian Basin, for approximately $100 million, subject to certain adjustments. (more…)
Akin Gump advised Morgan Stanley in the sale, along with Chesapeake Energy Corporation, of natural gas producing assets in east Texas and north Louisiana to SND Operating, LLC. According to SND, the transaction was valued at $129 million in cash, subject to closing adjustments, and included 182,395 net acres, 73 percent operated by Chesapeake. As a result of the deal, SND, which is backed by Vortus Investment Advisors, now holds about 225,000 net acres of production. (more…)