Blueknight Energy Partners has agreed to divest three of its asphalt terminals to Ergon Asphalt & Emulsions (Ergon A&E) for $90m.
Two of the asphalt terminals are located in Lubbock and Saginaw in Texas, while the third is located in Memphis, Tennessee, US.
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Blueknight Energy Partners is a midstream company, while Ergon Asphalt & Emulsions is a subsidiary of Ergon and a producer and marketer of asphalt and emulsion. Both companies are based in the US.
The proceeds from the divestment will be utilised by Blueknight Energy to reduce its debts.
The deal will strengthen Ergon A&E’s midstream asset portfolio in Texas and Tennessee.
Ascent Resources, through its subsidiaries, has signed an agreement to purchase certain oil and gas properties in the Utica shale play in Ohio, US, from Hess Corp, CNX Resources Corp, Utica Minerals Development, and an undisclosed seller for $1.5bn.
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By GlobalDataAscent Resources is an oil and gas exploration and production company, while Hess Corp is an exploration and production company, and CNX Resources Corp is an independent oil and natural gas company.
Utica Minerals Development is a portfolio company of private equity firm First Reserve.
All the companies involved in the transaction are based in the US.
The transaction is expected to strengthen Ascent Resources’ business operations, while CNX intends to repay its debts from the funds raised from the divestment.
Hess plans to use the funds raised from the transaction to invest in its assets located in Guyana and the Bakken formation, as well as to fund its share repurchase programme.
Royale Energy has signed a letter of intent to purchase non-operated interests in oil fields for $12m.
The oil fields are located in Texas and California, US, and also include the Jameson North field that lies in the Permian Basin, Texas.
Based in the US, Royale Energy is an oil and gas exploration and production company.
The transaction is expected to strengthen Royale Energy’s oil and gas asset portfolio in the US.
US-based oilfield technology company Profire Energy has raised $28m by offering 8.625 million shares priced at $3.25 a share in a public offering.
The offering also includes an additional 1.125 million shares, subject to optional over-allotment by the underwriters.
West Texas Resources has signed a joint venture agreement with Miller Oil Properties and D-Mil Production (Miller Companies) to purchase certain non-operating working interest in oil and gas properties in south central Oklahoma and north Texas, US, from non-operating partners for $0.25m.
The oil and gas assets include working interests in 19 wells.
All the companies involved in the transaction are oil and gas companies based in the US.
The transaction is expected to strengthen West Texas Resources’ oil and gas assets portfolio in Oklahoma and Texas.
