M&As this week: Golar LNG Partners, Silver Run II, Andeavor Logistics


Golar LNG Partners has agreed to acquire 50% interest in Golar Hilli from Golar LNG, affiliates of Keppel Shipyard, and Black and Veatch Corporation for up to $190m.

The purchase consideration will be funded by Golar LNG Partners by cash.

Golar Hilli owns the Hilli Episeyo floating liquefied natural gas (FLNG) vessel, which has a dead weight tonnage of 72,703t and gross tonnage of 96,235t.

Scheduled for completion by 30 April 2018, the transaction will allow Golar LNG Partners to strengthen its business.

Silver Run Acquisition Corporation II (Silver Run II), Alta Mesa Holdings and Kingfisher Midstream have agreed to merge to form a new entity with an estimated market capitalisation of approximately $3.8bn.

Alta Mesa is engaged in oil and gas exploration and production with assets located in the STACK play in Anadarko Basin, Oklahoma, US.

Kingfisher Midstream gathers, processes and markets hydrocarbons in the STACK play, Oklahoma, US.

Upon completion of the transaction, Silver Run II is anticipated to change its name to Alta Mesa Resources and will trade on the NASDAQ Stock Exchange under the ticker symbol 'AMR'.

Silver Run II has appointed Tudor, Pickering, Holt & Co. Securities as financial advisor and Latham & Watkins as legal advisor for the transaction.

The transaction is scheduled for completion in the fourth quarter of this year.

"Andeavor Logistics has agreed upon a $1.8bn acquisition of Western Refining Logistics LP (WNRL)."

Andeavor Logistics has agreed upon a $1.8bn acquisition of Western Refining Logistics LP (WNRL).

The transaction involves the transfer of Andeavor common units to WNRL unitholders at a ratio of 1:0.5233.

Andeavor Logistics has appointed J.P. Morgan Securities as financial advisor and Andrews Kurth Kenyon as legal advisor for the transaction.

Scheduled for completion in the fourth quarter of this year, the transaction will enable Andeavor Logistics to fortify its business.

Genie Retail Energy, a subsidiary of Genie Energy, has completed the acquisition of Mirabito Natural Gas (Mirabito Gas) from Angus Energy for $3m.

Mirabito Gas offers energy services to the commercial and governmental customers throughout Florida, US.

The transaction allows Genie Retail Energy to expand its operational footprint to 12 states.

Ironhorse Oil & Gas has agreed to acquire Pond Technologies in a reverse takeover transaction for approximately $18m.

The transaction involves the transfer of Ironhorse Oil & Gas shares to the shareholders of Pond Technologies at a ratio of 1:6.9.

Under the terms, Ironhorse will issue approximately 79 million common shares at a deemed price of $0.22 a share.