Acquisitions & Divestitures - Joint Ventures
According to the filing, Petrobras, as the Brazilian company is known, will have a 20% stake in the joint venture, and Murphy will have 80%.
A consortium led by U.S.-based Talos Energy is looking to partner with Mexico’s state-run energy firm Pemex next year on a plan to jointly develop a potentially lucrative oil and gas discovery pending more drilling, Reuters reported on Oct. 9.
Baker Hughes (NYSE: BHGE), the world’s second-largest oil services company, will take a 5% stake in Abu Dhabi National Oil Co.’s (ADNOC) drilling unit for $550 million under a tie-up announced on Oct. 8.
Joint venture will develop crude oil pipeline and gathering system in the Delaware Basin.
Saudi Arabia has shelved a $200 billion plan with SoftBank Group Corp. to build the world’s biggest solar-power-generation project, the Wall Street journal reported on Sept. 30, citing Saudi government officials.
Purchase by Delek and Noble allows supply of 64 Bcm over 10 years.
French oil and gas major Total has made a final investment decision to expand its Texas Bayport Polymers joint venture to double polyethylene production capacity to around 1.1 million tonnes a year (mtpy), the company said on Sept. 25.
Woodside is also accelerating plans to build a pipeline to move gas from its Scarborough development.
A Carlyle fund and Diamondback will jointly invest $620 million to develop the assets in the San Pedro area of Pecos County, Texas, within the Southern Delaware Basin.
The announcement comes after an initial deployment of POA proved the technology could help prevent unplanned downtime at BP’s Atlantis platform in the GoM.
The partnership includes an option for American Midstream to acquire a 25% interest in Enterprise’s Pascagoula natural gas processing plant located in Mississippi.
Plains All American Pipeline LP, Magellan Midstream Partners LP and OMERS have entered into a definitive agreement whereby Plains and Magellan will collectively sell a 50% interest in BridgeTex Pipeline Co. LLC for $1.438 billion.