Deals this week: ARMM, Devon Energy, Jonah Energy

Antero Resources Midstream Management (ARMM) has announced the pricing for its initial public offering (IPO) to raise $875m through the issue of 37.25 million shares, at a price of $23.5 per share.

Underwriters have been granted a 30-day option to buy up to an additional 5.5 million shares. ARMM intends to list its shares on the New York Stock Exchange under the symbol AMGP.

Morgan Stanley & Co., Barclays Capital, J.P. Morgan Securities, Robert W. Baird & Co., Citigroup, Goldman, Sachs & Co, and Wells Fargo Securities are the company's joint book-running managers for the IPO, which is scheduled for completion on 9 May.

Devon Energy Corporation plans to dispose of non-core upstream assets in the US for approximately $1bn.

These assets include select portions of the Barnett Shale formations located across Johnson County, Texas, US, and other properties within the company’s US resource base.

The proceeds from the sale are intended to be used by the company to develop its US resource plays and to further strengthen its financial position.

The transaction is scheduled to commence in the second quarter of this year.

Jonah Energy has agreed to acquire oil and natural gas producing properties located in the Jonah and Pinedale fields and surrounding area of western Wyoming, US, from Linn Energy.

The deal involves a purchase consideration of $580m, which will be funded by Jonah Energy through a combination of equity and borrowings under its credit facility.

The properties include approximately 27,500 total net acres with proven reserves of approximately 384 billion cubic feet equivalent.

Evercore Group is the financial advisor and Vinson & Elkins is the legal advisor to Jonah Energy for the transaction.

Scheduled for completion in the second quarter of this year, the deal will allow Jonah Energy to expand its oil and gas assets base in Wyoming, US.

Lucid Energy Group has received a commitment from Magnetar Capital for equity investment of up to $250m.

Lucid Energy provides a range of midstream services to producers working in the Midland and Delaware Basins.

Jefferies and Vinson & Elkins were the financial and legal advisors to Lucid Energy, respectively.

The investment supports Lucid Energy’s ongoing expansion of its infrastructure build-out in the Permian Basin and development of its natural gas gathering and processing system in the Delaware Basin.

Genesis Energy has agreed to a $192m acquisition of Todd Corporation subsidiary Nova Energy’s retail LPG business in New Zealand.

The retail LPG business encompasses 23 depots in New Zealand, two reticulated networks in Dunedin and Christchurch, and 68 vehicles.

Scheduled for completion on 31 May, the transaction will allow Genesis Energy to expand its customer base in New Zealand.