Deals this week: MPLX, Vermilion Energy, EIG Global Energy Partners

MPLX has completed the acquisition of certain terminal, pipeline and storage assets located in Ohio and Michigan, US, from Marathon Petroleum Corporation (MPC).

The $2.01bn deal was funded by MPLX through the payment of cash and issuance of common shares.

The assets include 62 light-product terminals, 11 pipeline systems, 73 tanks, a crude oil truck unloading facility at MPC’s refinery in Canton, and eight natural gas liquids storage caverns in Woodhaven, Michigan.

Jefferies and Akin Gump Strauss Hauer & Feld were the financial and legal advisors respectively to MPLX.

Vermilion Energy plans to raise $227.19m through the issuance of senior unsecured notes due 2024, in a private placement.

The proceeds from the private placement are intended to be used to make partial repayment of the company’s outstanding debt under its revolving credit facility.

EIG Global Energy Partners has spent $555m for the acquisition of 49% stake in Elba Liquefaction Company (ELC) from Kinder Morgan (KMI).

ELC is currently involved in the construction of the $1.3bn Elba Liquefaction project with a total capacity of approximately 2.5 million tonnes (350mmcfd of gas) a year of LNG for export.

Barclays Capital was the financial advisor to Kinder Morgan for the transaction.

Sabine Pass Liquefaction, a wholly owned subsidiary of Cheniere Energy Partners, has announced the pricing of the public offering of senior notes due 15 March 2028.

The company intends to raise $1.35bn through the issue of the 4.2% senior secured notes, which will yield 4.211% at maturity.

The proceeds from the issue are intended to be used by Sabine Pass Liquefaction to pay capital costs related to the construction of five trains in the Sabine Pass Liquefaction Project.

The public issue is scheduled for completion on 6 March.

Australis Oil & Gas has agreed to acquire Tuscaloosa Marine Shale’s (TMS) assets located in Mississippi and Louisiana, US, from EnCana Oil and Gas USA, through its indirect wholly owned subsidiary Australis TMS.

The deal involves a cash consideration of $80m and the transfer of working interests in 31 gross operated and producing wells and 16 gross non-operated producing wells within in an area of 62,000 net acres.

The proved developed and producing (PDP) reserves of the assets are estimated to be 5mmbbls of oil.

Scheduled for completion in mid-April, the transaction will allow Australis to extend its oil assets base within the TMS area in Mississippi and Louisiana.