Berry Petroleum Co. is the first C-Corp acquisition made by an upstream master limited partnership/LLC, Linn Energy. Observers are speculating as to which E&Ps might be next.
In the deal, Jefferies’ shareholders (other than Leucadia, which currently owns approximately 28.6% of the Jefferies outstanding shares) will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold in a tax-free exchange.
The acquisition positions Pembina as a leader in the North American energy infrastructure sector and gives it the ability to pursue larger, more complex growth projects
Pioneer Natural Resources Company signed an agreement with a subsidiary of Carmeuse Holding S.A. to acquire its U.S. industrial sands business, Carmeuse Industrial Sands, for $297 million.
Headquartered in Houston, the BNP energy business consists of approximately 175 customer relationships, nearly $9.5 billion of loan commitments, and approximately $3.9 billion in loans outstanding.
The company acquired a minimum of 63.5% working interest in the Luling Edwards Fields and an option to purchase a 15% working interest in the Bateman field.
Hicks Equity Partners, the private equity investment vehicle of the Thomas O. Hicks family, is leading an investor group that has acquired a majority interest in Directional Rentals Inc., a privately held oilfield services company.