Keubiko • 36 Comments
Thu, Jul. 14, 2:52 PM
- Williams Cos. (WMB +5.6%) moves sharply higher following a Reuters report that it has received at least seven bids for its Canada unit, in a potential sale that could fetch $1B-$2B.
- Interest has come from pipeline companies Enbridge (ENB -0.4%), Pembina (PBA +0.5%), Keyera (OTC:KEYUF) and Inter Pipeline (OTCPK:IPPLF), as well as three Canadian pension plans, and an unspecified number of U.S. companies, according to the report.
- The sale process reportedly is at an advanced stage, and a deal could result by the end of the month; interest is said to be strong, highlighting demand for midstream assets that offer a steady cash flow despite volatile oil prices.
- Also: WPZ +3.3%, EEP +0.1%.
Nov. 5, 2015, 7:58 AM
- Enbridge (NYSE:ENB) agrees to acquire a 24.9% stake in E.ON's (OTCQX:EONGY) €1.9B ($2.1B) offshore Rampion wind project Rampion in the U.K. for C$750M (US$570M), and will manage construction of the project.
- E.ON will remain the controlling shareholder of the 400 MW project with a 50.1% stake, with the remaining stake being held by the UK Green Investment Bank.
- ENB and E.ON already are partners in the Magic Valley wind farm in Texas and the Wildcat wind farm in Indiana.
Sep. 3, 2015, 12:38 PM
- Holly Energy Partners (HEP +0.3%) agrees to acquire Enbridge’s (ENB +2.8%) 50% stake in the Frontier Pipeline for an undisclosed amount.
- The Frontier pipeline is a 296-mile crude oil route that runs from Casper, Wyo., to Frontier Station, Utah, and has a capacity of 72K bbl/day; the line brings Canadian and Rocky Mountain crude oils south to refineries in the Salt Lake City area.
- Plains All American (PAA +1.5%) owns the remaining 50% interest and will continue to operate the Frontier line.
Jun. 17, 2013, 10:59 AM
A 50% cut in Petrominerales' (PMGLF.PK) market value has left its equity and net debt valued at the cheapest multiple to profit among any oil and gas explorer in the world with a market value higher than $250M, according to Bloomberg, which speculates its reserves, estimated at 40M-plus barrels of mostly high-quality light oil, could attract suitors such as Enbridge (ENB), TransCanada (TRP) or Pacific Rubiales (PEGFF.PK).| Jun. 17, 2013, 10:59 AM | 3 Comments
Dec. 20, 2012, 9:29 AM
Enbridge (ENB) says it will invest ~C$170M to acquire a 50% stake in a wind project in Quebec. The 150 MW Massif du Sud project will be ENB's second wind project in the province. ENB has been building its portfolio of renewable energy projects to supply power for its own needs and offset its carbon emissions.| Dec. 20, 2012, 9:29 AM
Nov. 16, 2011, 9:31 AM
More on ConocoPhillips's (COP -1.2%) asset sales: One of the deals is a $1.15B transaction to sell ConocoPhillips' 50% stake in the Seaway Crude Pipeline Company, which transports oil between Texas and Oklahoma, to Enbridge (ENB -1.4%). ConocoPhillips says the deals will bring total proceeds from its 2010-2012 divestiture program up to $10.5B.| Nov. 16, 2011, 9:31 AM | 2 Comments