Deals this week: Enterprise Products Partners, Pioneer Natural Resources, Luxe Minerals


Enterprise Products Partners has agreed to acquire the midstream business and assets located in East Texas and North Louisiana, US, from Azure Midstream Partners and its operating subsidiaries.

The deal involves a purchase consideration of $189m for the acquisition of assets, including more than 960 miles of natural gas gathering pipelines, three natural gas processing facilities and two pipelines.

Andrews Kurth Kenyon has been appointed as legal advisor to Enterprise Products for the transaction.

Scheduled for completion in April, the deal will allow Enterprise Products to extend its midstream assets portfolio in East Texas and North Louisiana.

Pioneer Natural Resources Company has agreed to dispose approximately 20,500 net acres located in north-eastern Martin County, Texas, US, for $266m.

The acreage has a net production capacity of approximately 1,500 barrels of oil equivalent a day (boed).

The transaction is scheduled for completion by the end of April.

"Pioneer Natural Resources Company has agreed to dispose approximately 20,500 net acres located in north-eastern Martin County, Texas, US, for $266m."

Luxe Minerals has secured commitment from NGP Natural Resources XI for an equity investment of $254m.

The investment allows Luxe Minerals to pursue new project developments in Midland, Delaware, Eagle Ford, Bakken, Powder River and DJ basins.

Resolute Energy plans to sell the Aneth oil field located in the Paradox Basin, south-east Utah, US, for an estimated consideration of up to $325m.

The Aneth field extends across an area of approximately 43,218 gross acres with net proven (1P) reserves of 24.4mmboe.

The field produced 6,161boed during the year ending 31 December 2016.

Solaris Oilfield Infrastructure intends to raise $100m through the issuance of shares in an initial public offering (IPO).

The shares will be listed on the New York Stock Exchange under the ticker symbol 'SOI'.

Solaris has appointed Credit Suisse Securities (USA) and Goldman, Sachs & Co. as underwriters for the offering.

The company intends to use the amount raised from the IPO to repay its credit facilities and for general corporate purposes.