M&As this week: Black Diamond Gathering, AWE, Eclipse Resources, Novatek

Black Diamond Gathering has entered an agreement to acquire Saddle Butte Rockies Midstream for $625m.

The acquirer company is a joint venture between Noble Midstream Partners and Greenfield Midstream.

Noble Midstream will fund 50% of the purchase consideration valued at $312.5m.

Deutsche Bank Securities is the financial advisor to Noble Midstream, while Robert W. Baird & Co. Private Weath Management is the financial advisor to Greenfield Midstream for the transaction.

Vinson & Elkins is the legal advisor to Noble Midstream, while Reed Smith is the legal advisor to Greenfield Midstream for the transaction.

Scheduled for completion in the first quarter of 2018, the transaction will allow Noble Midstream to expand its presence in the Denver-Julesburg Basin.

AWE has received a take-over offer from Mineral Resources (MRL).

The offer will involve the transfer of MRL shares to AWE shareholders at a ratio of 1:22.325.

AWE stockholders will hold approximately 13.1% of the combined company, upon completion of the transaction.

Macquarie Capital Group is the financial advisor to MRL, while UBS, Australia Branch, and Highbury Partnership are the financial advisors to AWE for the transaction.

Gilbert + Tobin is the legal advisor to MRL, while Allens Operations is the legal advisor to AWE for the transaction.

Eclipse Resources Corporation has agreed with Cardinal Midstream II to acquire the entire outstanding interests of Cardinal NE Holdings for $18.3m.

The target company’s assets include midstream infrastructure along with associated gathering rights in approximately 44,500 acres of the Flat Castle project.

The transaction will allow Eclipse Resources to reduce per-unit gathering costs and improve returns.

Novatek has agreed to acquire OOO Chernichnoye from Mangazeya for an undisclosed value.

OOO Chernichnoye holds an exploration and production licence for the Chernichnoye gas field, which contains hydrocarbon resources of approximately 179 million barrels of oil equivalent as of 31 December 2016.

Scheduled for completion by early 2018, the transaction will allow Novatek to fortify its business operations.