Breitburn Energy Partners LP (NASDAQ: BBEP) and QR Energy LP (NYSE: QRE) announced Nov. 18 that the unitholders of QR Energy have approved the proposed merger of the companies.
At a special meeting held Nov. 18 by Houston's QR Energy, about 97% of votes cast by QR Energy unitholders were in favor of the merger.
In July, Breitburn announced the agreement to purchase QR Energy in a unit-for-unit exchange worth up to $3 billion. A merger would make Breitburn, headquartered in Los Angeles, the largest oil-weighted upstream oil and gas MLP with a combined enterprise value of about $7.8 billion.
Breitburn said it expects the transaction to close in the coming days.
Recommended Reading
Marketed: Anschutz Exploration Corp. WI Opportunity in Converse County, Wyoming
2024-01-26 - Anschutz Exploration Corp. retained EnergyNet for the sale of its WI participation option in Converse County, Wyoming.
Excelerate Energy, Qatar Sign 15-year LNG Agreement
2024-01-29 - Excelerate agreed to purchase up to 1 million tonnes per anumm of LNG in Bangladesh from QatarEnergy.
UK’s Union Jack Oil to Expand into the Permian
2024-01-29 - In addition to its three mineral royalty acquisitions in the Permian, Union Jack Oil is also looking to expand into Oklahoma via joint ventures with Reach Oil & Gas Inc.
Permian Resources Continues Buying Spree in New Mexico
2024-01-30 - Permian Resources acquired two properties in New Mexico for approximately $175 million.
Eni, Vår Energi Wrap Up Acquisition of Neptune Energy Assets
2024-01-31 - Neptune retains its German operations, Vår takes over the Norwegian portfolio and Eni scoops up the rest of the assets under the $4.9 billion deal.