TPG Growth has entered an agreement to divest Discovery Midstream Holdings to a newly formed joint venture (JV) between Kohlberg Kravis Roberts & Co (KKR) and Williams Partners for $1.2bn.
The initial economic contribution and ownership of Williams will be 40% of the purchase price, while it will be 60% for KKR. Williams will also hold the majority of governance voting rights in Discovery Midstream.
Discovery Midstream is an oil and natural gas gathering services provider. The company also owns 130 miles (209km) of natural gas pipeline.
TPG Capital subsidiary TPG Growth is a middle market and growth equity platform, while KKR is a private equity firm and Williams Partners is a midstream company.
All the companies involved in the transaction are based in the US.
The acquisition is expected to expand Williams’ midstream assets base in Denver-Julesburg Basin.
BP has agreed to acquire a 100% stake in Petrohawk Energy Corporation from BHP Billiton Petroleum for $10.5bn.
BP will pay $5.25bn on completion of the transaction and the remaining $5.25bn in six equal instalments over six months from the date of completion of the transaction, under the terms of the agreement.
The company is executing the transaction through its subsidiary BP American Production Company.
BP is a UK-based integrated oil and gas company, while Petrohawk is an oil and gas company based in the US and BHP Billiton Petroleum (formerly BHP Billiton) is a subsidiary of Australian natural resources company BHP.
The transaction will mark BHP’s exit from the US shale business operations.
The acquisition is expected to strengthen BP’s oil and gas asset base in the US.
NauticAWT and Vectra Petroleum have entered an agreement to divest NVP Georgia to Qyrin Petroleum Technology (QP) for $3m.
NauticAWT is executing the transaction through its subsidiary NauticAWT Energy.
NVP Georgia is a company operating under the Block VIIB production sharing contract (PSC) located in West Georgia and covering an area of 1,175km². NauticAWT Energy and Vectra Petroleum each own a 50% interest in the PSC. The agreement will provide QP with a 100% interest in the block.
Vectra Petroleum will receive $1.5m and NauticAWT Energy will receive the remaining $1.5m, as per the terms of the agreement.
Singapore-based NauticAWT provides subsurface, subsea and surface facilities engineering services, while Vectra Petroleum is part of a Hong Kong-based diversified group of companies named Vectra Group. In addition, Qyrin Petroleum Technology is a Malaysian JV of QP and Malaysian Bumiputra partners and investors.
The sale proceeds will be utilised by NauticAWT to finance the development and production of ultra high-performance concrete (UHPC) materials, while strengthening the business operations of QP.
Canadian Natural Resources Ltd plans to acquire all of the issued and outstanding common shares of Laricina Energy Ltd for C$94.97m ($72.43m).
Based in Canada, Canadian Natural Resources is an oil and gas exploration, development and production company, while Laricina Energy, also based in Canada, is a private development-stage oil sands company.
The transaction is expected to enable Canadian Natural to strengthen its business operations in Canada.
Merit Energy Company has agreed to acquire all of the issued share capital of BHP Billiton Petroleum (Arkansas) and 100% membership interests in BHP Billiton Petroleum (Fayetteville) from BHP for $300m.
BHP Billiton Petroleum (Arkansas) and BHP Billiton Petroleum (Fayetteville) own the Fayetteville shale assets, including 770km of pipelines.
Merit Energy is executing the transaction through its subsidiary MMGJ Hugoton III.
Based in the US, Merit Energy is an oil and gas investment holding company, while BHP (formerly BHP Billiton) is an Australian natural resource company.
The acquisition is expected to strengthen Merit Energy’s business operations.
