Harvest Midstream Company has agreed to purchase the Four Corners Area (FCA) assets from Williams Partners for $1.125bn.
The FCA assets are located in the San Juan and the Rio Arriba counties of New Mexico, as well as La Plata County in Colorado, US. The assets comprise 3,700 miles (5,955km) of gas pipeline, two gas processing plants and one CO2 treatment plant.
The proceeds from the divestment will be used by Williams for business expansion, expenditures related to investments, and the acquisition of Discovery DJ services.
Formerly known as Harvest Pipeline Company, Harvest Midstream Company is a midstream services provider, while Williams Partners is a midstream company. Both the companies involved in the deal are based in the US.
The deal is expected to strengthen Harvest Midstream’s midstream assets portfolio in Mexico and Colorado.
US-based oil and gas company Range Resources Corporation has divested some of its oil and gas assets for $23m.
The oil and gas properties are located in the mid-continent region in Oklahoma and Kansas, US.
Reinecke Partners plans to divest its operated working interest and development rights in assets in Borden County, Permian Basin, Texas, US.
The assets include a 70.4% working interest in the Reinecke field covering an area of 4,358 gross acres and containing 112 wellbores.
Based in the US, Reinecke Partners is an oil and gas company.
Exxon Mobil Corp has entered an equity option agreement to purchase 50% interest in the Double E Pipeline Project from Summit Midstream Partners.
The Double E Pipeline project will be a 134-mile (215.65km) long pipeline with a diameter between 30in and 42in. The pipeline will provide interstate natural gas transportation service from the Delaware Basin lying in New Mexico and Texas to the Waha Hub.
Based in the US, ExxonMobil is an integrated oil and gas company, while Summit Midstream, also based in the US, is a midstream company.
The transaction is expected to strengthen ExxonMobil’s midstream assets base in the US.
Cequence Energy plans to raise C$8.6m ($6.59m) by issuing 245 million flow-through common shares priced at C$0.035 ($0.027) a share in a rights offering.
The issuance of each right will be on the basis of one right for each share held.
Based in Canada, Cequence Energy is an oil and gas exploration and production company.
The funds raised from the offering will be used by the company to refinance its balance sheet and strengthen its business plan.
