LNG

July 16 (LNGJ) - Energy Transfer, the owner of pipelines and other assets in the Permian Basin and the US Gulf Coast as well as the currently stalled LNG export project at Lake Charles in Louisiana, has completed the acquisition of WTG Midstream for $3.25 billion in cash and shares.

   Energy Transfer bought WTG from affiliates of US assets manager Stonepeak, the Davis Estate and Midland, Texas-based Diamondback Energy. The acquired assets add around 6,000 miles of gas gathering pipelines that extend the network in the Midland Basin as well as eight gas processing plants with a total capacity of 1.3 billion cubic feet per day and two additional processing plants which are under construction.

ExxonMobil Corp. has filed for arbitration to retain pre-emption rights in a world-class oil field offshore Guyana in the northeast tip of South America, threatening Chevron Corp.’s agreed $53 billion acquisition of New York-based oil and gas company Hess Corp.

Diamondback Energy, the Texas-based company listed on the Nasdaq global exchange, has agreed to acquire privately-held Endeavor Energy Resources in a transaction valued at $26 billion to create a premier operator in oil and associated natural gas in the Permian Basin of West Texas and New Mexico.

Chesapeake Energy Corp. said it would purchase smaller market rival Southwestern Energy Co. for $7.4 billion in an all-stock transaction creating a $24Bln company that will be the nation’s largest natural gas producer.

Williams Companies, a leading US natural gas pipelines operator with projects aimed at boosting feed-gas supplies for Gulf Coast LNG export plants, has reached an agreement to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion.

Vital Energy Inc., the Tulsa, Oklahoma-based exploration and production company, has signed three transactions worth around $1.17 billion to add nearly 53,000 net acres to its assets in the Midland and Delaware areas of the Permian Basin with significant proved oil and natural gas reserves.

Civitas Resources Inc., the US oil and natural gas company headquartered in Denver, has made a “transformative” entry into the Permian Basin by acquiring assets of two companies for $4.7 billion with a mixture of debt, stock and cash in the latest round of merger and acquisition activity in the sector.

US energy infrastructure company ONEOK Inc. has signed a definitive merger agreement with Magellan Midstream Partners in a cash-and-stock transaction valued at around $18.8 billion to combine the two Oklahoma-based energy groups.

Targa Resources Corp., one of the largest US independent midstream infrastructure companies, has agreed to acquire Lucid Energy, a natural gas gathering and processing services company in the Delaware Basin from US asset managers for $3.55 billion in cash and the transaction will be completed in the third quarter.

Ovintiv Inc., the shale oil and gas company with assets in key basins in North America, has signed an agreement to sell its Eagle Ford resources in south Texas to Validus Energy for $880 million to reduce debts as exploration and production companies in the LNG-exporting region of the US Gulf Coast have been badly hit by the combined oil price and Covid-19 slump since early 2020.