In A&D news, the $1.75 billion sale of Brazos Midstream’s Delaware Basin subsidiaries to Morgan Stanley Infrastructure earlier this week was another big step for the sector as it hustles to keep up with producers’ soaring output in the Permian. According to analysts, deals like this are likely to keep coming. Stratas Advisor’s Greg Haas told Hart Energy that midstream assets in the Permian could make for attractive purchases given the anticipated wave of production growth there. He said he wouldn’t be surprised to see other smaller gassy Permian infrastructure players find potential partners.
Also this week, SandRidge Energy said it would evaluate any offer to buy the company after top shareholder Carl Icahn nominated his own board of directors and said he would pay cash to buy the shale oil producer if they were elected.
North of the border, Kinder Morgan Canada set off a heated political furor when it suspended most work on the Trans Mountain Pipeline Expansion through British Columbia. Canadian Prime Minister Justin Trudeau was not pleased with the decision, blaming BC’s strong opposition to the project for jeopardizing national interest in foreign investment. Trudeau will reportedly, put pressure on BC’s provincial government to drop its resistance to the project. Earlier in the week, he tweeted: "The Trans Mountain Expansion will be built." Meanwhile, Alberta Premier Rachel Notley, also a supporter of the project, said that her province would offer to buy the pipeline to keep it going.
Hart Energy also wants to invite you to listen to our new podcast series discussing Oil and Gas Investor’s 25 Influential Women in Energy program. You can find it on SoundCloud and iTunes.
- Permian Could See More Deals Like Brazos
- SandRidge Says To Evaluate Buyout Offers, Including Icahn's
- Trans Mountain Fight Moves From Jurisdictional Dispute To Constitutional Power Struggle
- Canada's Trudeau To Press British Columbia To Accept Pipeline: Source
- Alberta Premier Says Willing To Buy Trans Mountain Pipeline