Deals this week: TransMontaigne Partners, 2i Rete Gas, SRC Energy

TransMontaigne Partners has agreed to acquire Martinez and Richmond terminals located in California, US, from an affiliate of Plains All American Pipeline.

The transaction involves a cash consideration of $275m, which will be funded by TransMontaigne through the proceeds from a public offering and existing cash in hand.

The terminals contain 64 storage tanks, which have a combined storage capacity of approximately 5.4 million metric barrels (Mmbbls).

TransMontaigne has appointed Bank of America Merrill Lynch as financial advisor for the transaction.

Scheduled for completion on or before 1 January 2018, the transaction will enable TransMontaigne to expand its storage and terminalling business.

2i Rete Gas intends to raise $208.88m through the issue of 1.608% senior notes, due 31 October 2027, in a private placement.

The placement, scheduled for completion on 22 November, is being subscribed to by qualified investors. UniCredit Bank (HypoVereinsbank Private Banking) is the book runner for the placement.

The proceeds from the placement are intended to be used by the company for general corporate purposes.

SRC Energy (formerly Synergy Resources) has agreed to acquire certain undeveloped land and non-operated producing properties located in non-core Denver-Julesburg Basin of Weld County, Colorado, US, from Noble Energy.

The transaction will involve a cash consideration of $568m, which will be funded by SRC Energy through cash payment.

The assets include approximately 30,200 net acres and 600 drilling locations with a production capacity of approximately 2,500 barrels of oil-equivalent a day (boed).

Noble Energy has appointed Tudor, Pickering, Holt & Co. as financial advisor and Bracewell as legal advisor for the transaction.

The transaction is scheduled for completion by the end of this year.

EQC Operating Trust plans to dispose producing oil and gas assets located in Tarrant County, Texas, US.

The divestment involves the transfer of approximately 2.63% mineral interest in pooled units of Newark East Field. The net production from the assets is estimated to be 60mcfd.

EQC has engaged Oil & Gas Asset Clearinghouse for the sale of assets. The auction is scheduled for closure on 29 November.

Centennial Resource Development has unveiled the pricing of an underwritten public offering of 25 million Class A shares.

The underwriters have been granted a 30-day option to buy up to an aggregate of 3.75 million additional shares.

The shares are offered by Riverstone VI Centennial QB Holdings, REL US Centennial Holdings, Riverstone Non-ECI USRPI AIV, Silver Run Sponsor and Celero Energy Company.

Goldman Sachs & Co. has been appointed as the underwriter for the offering.