Deals this week: Noble Midstream Partners, Elite Group, Occidental Petroleum

Noble Midstream Partners has announced the pricing of 3.53 million common units to raise approximately $143m in a private placement.

The proceeds from the placement are intended to be used by the company to partly fund the acquisition of additional stakes in Blanco River DevCo and Colorado River DevCo from Noble Energy.

The placement is scheduled for completion on 26 June.

Elite Group has signed a letter of intent to buy 75% working interest in two oil and gas wells in a 160-acre lease, located in Gaines County in the Permian Basin, Texas, US.

The deal is part of Elite Group’s growth strategy and will allow the company to expand its business operations.

Occidental Petroleum (OXY) has agreed to acquire interest in enhanced oil recovery (EOR) assets located in the Permian Basin, US, from Hess Corporation for a purchase consideration of $600m.

The transaction includes 34.2% stake in the Seminole-San Andres Unit, 46.6% stake in the Seminole gas processing plant, 100% stake in the West Bravo Dome CO₂ field and 9.9% stake in the Bravo Dome unit in New Mexico.

OXY has concurrently sold 13,000 acres in Andrews, Martin and Pecos counties, Permian Basin, for a sale consideration of $600m.

Scheduled for completion on 1 August, the transaction will enable OXY to expand its oil and gas assets portfolio in the Permian Basin.

Keyera intends to raise $302.5m through the issue of 3.68% senior unsecured notes, due on 20 September 2027, in a private placement.

RBC Capital Markets and Citigroup Global Markets are the company's placement agents.

The proceeds from the placement are intended to be used by the company to repay short-term debt and for general working capital purposes.

The placement is scheduled for completion on 20 September.

Cenovus Energy plans to dispose certain oil and gas assets located in Alberta and Saskatchewan, Canada.

The assets include Palliser asset in southern Alberta and Weyburn oil operation in southern Saskatchewan.

The sale forms part of Cenovus Energy’s non-core divestment plan of up to $3.78bn.