Deals this week: Liberty Energy, Centennial Resource Development, CNX Midstream Partners

Liberty Energy plans to divest its non-operated working interest in oil and gas properties located in south Texas, US.

The divestment includes a working interest (WI) between 2.95% and 40% in 125 wells, 8.096% WI in both the Cortez facility and Rock Creek Tank Battery, and 4.52% WI in the Stokes/Tate Water System.

Out of the total 125 wells, 115 are producing and ten are non-producing.

The properties included in the transaction are 68 upside locations in Eagle Ford Formation in Gonzales County and 13 upside locations in Eaglebine Formation in Brazos County.

The current operators of the assets are Crimson Exploration Operating, Encina Resources, Escondido Resources II, and Penn Virginia Oil & Gas.

Liberty Energy also announced the divestment of between 0.0291% and 25.095936% WI in 23 wells in south Texas, 20.6652% WI in the Kodiak 2H Facilities and a royalty interest of 0.004768% in the BP Black Stone A-90 well.

Out of the total 23 wells, 16 are production wells, six are saltwater disposal wells and one is a non-producing well.

Based in the US, Liberty Energy is an oil and gas company that is a subsidiary of Liberty Energy Holdings.

Centennial Resource Development plans to raise $491.3m through a public offering of 25 million Class A shares.

Underwriters will be granted an option to purchase 3.75 million additional shares within 30 days of the offer closure.

Centennial Resource has appointed J.P. Morgan & Co as the underwriter for the transaction.

CNX Midstream Partners plans to raise $400m through the private placement of senior notes due 2026.

The proceeds will be used to acquire 95% interest in CNX Resource Corporation-owned Shirley-Pennsboro gathering system, and for general corporate purposes.

Mettle Midstream Partners has raised $100m in equity from Pearl Energy Investments and Natural Gas Partners (NGP).

Based in the US, Mettle Midstream is involved in the provision of integrated midstream services, while Pearl Energy Investments and Natural Gas Partners (NGP) are private equity firms.

The transaction is expected to strengthen Mettle Midstream’s service offerings.

Noble Energy Partners has signed an agreement to acquire a 19% interest in the Midstream Access Pipeline for C$15m ($11.6m).

The project is a 90-mile (144.84km) network of high and low-pressure pipelines located in Upton County and Midland County, Texas, US.

The deal is expected to strengthen Noble Energy’s pipeline asset base.

NGL Energy Partners plans to divest a part of its stake in Sawtooth storage facility to Magnum Liquids and Magnum Development for $45m.

Sawtooth is a natural gas liquids storage facility located southwest of Salt Lake City, Utah, while NGL Energy is a US-based midstream and downstream company.

Magnum Liquids and Magnum Development are energy storage companies based in the US.

NGL Energy will use the funds raised from the divestment to repay its debts and improve its leverage profile.

Devon Energy Corporation signed an agreement to divest the southern part of Barnett Shale oil and gas assets located in Johnson County, Texas for $553m.

Devon Energy will use the funds raised from the transaction to strengthen its investment-grade financial position.

The deal will be completed in Q2 2018.

The financial advisor to Devon Energy for the deal is J.P. Morgan Securities, while the legal advisor is Vinson & Elkins.