Noble Midstream Partners and Plains All American Pipeline (PAA) have signed an agreement to acquire Advantage Pipeline through their newly formed joint venture company.
The $133m deal will be funded by Noble Midstream through cash in hand and its undrawn credit facility. PAA intends to fund the acquisition through the issuance of shares.
The assets of Advantage Pipeline include a 70 mile long, 16in diameter crude oil pipeline in the southern Delaware Basin, west Texas, and associated storage facilities. The pipeline has the capacity to transfer 150,000 barrels a day.
Scheduled for completion by 1 April, the acquisition will allow Noble Midstream and PAA to expand their midstream assets portfolio in southern Delaware Basin, Texas, US.
Magnum Gas & Power (MPE) has agreed to acquire 100% of Bombora Natural Energy's issued capital.
The transaction will involve the transfer of MPE shares to the shareholders of Bombora Natural at a ratio of 60:1.
Bombora Natural holds stakes in a number of gasprojects in the US and Australia. The deal will allow MPE to extend its oil and gas operations.
M5 Midstream has made an offer of $151m to acquire Azure Midstream Partners, a provider of natural gas gathering and processing and crude oil logistics services.
Azure Midstream’s assets include 963mi of gathering pipelines, three natural gas processing facilities, two NGL transportation pipelines, and three crude oil transloading facilities.
The acquisition will enable M5 Midstream to extend its midstream operations.
Martin Midstream Partners has agreed to acquire 100% membership interests in MEH South Texas Terminals (MEH), from MRMC Equipment Holdings, a wholly owned subsidiary of Martin Resource Management Corporation.
The deal will involve a purchase consideration of $27.4m. MEH is currently engaged in the development of an asphalt terminal located in Hondo, Texas, US.
The new terminal, with 178,000 barrels of asphalt storage, is expected to be completed by July.
Scheduled for completion on or before 28 February, the acquisition will allow Martin Midstream to extend its midstream asset base.