Blackstone Wades Into Tallgrass

Blackstone's $1.1 billion acquisition of Enagas' 30% stake in Tallgrass; BP raised forecasts for O&G demand in the latest sign that the transition to clean energy has slowed; Global oil consumption hits historic 100 million barrels per day milestone; BPX Energy expands US shale operations.

Author

Rob Quigley
July 11, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Blackstone acquires Enagas' Tallgrass stake for $1.1 billion, expanding its midstream portfolio.

Blackstone Buys Enagás’ Tallgrass Stake for $1.1 Billion

Spain’s Enagás is selling its Tallgrass Energy interests to Blackstone Infrastructure Partners in exchange for some needed capital.

www.hartenergy.com/exclusives/blackstone-buys-enagas-tallgrass-stake-11-billion-209749

BP raised forecasts for O&G demand in the latest sign that the transition to clean energy has slowed.(BP)

Global oil consumption hits historic 100 million barrels per day milestone.(OilPrice.com)

BPX Energy expands US shale operations.(Hart Energy)

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • BPX Energy expands US shale operations.(Hart Energy)

  • BP raised forecasts for O&G demand in the latest sign that the transition to clean energy has slowed.(BP)

  • Global oil consumption hits 100 million barrels per day.(OilPrice.com)

  • Supreme Court decision on Uinta railcars impacts future LNG/pipelines permiting.(Hart Energy)

  • Challenges faced by Golden Pass LNG project.(Hart Energy)

  • Houston port reopens after Hurricane Beryl impact.(Houston Business Journal)

  • Republican states lose motion on methane emissions rules.(OilPrice.com)

  • Significant oil discovery in North Sea's Gnomoria structure.(Offshore Magazine)

  • Eni reports new offshore Mexico oil discovery.(Hart Energy)

Deal Flow

M&A/Investment

  • Blackstone acquires Enagas' Tallgrass stake for $1.1 billion.(Hart Energy)

  • Diversified buys low decline ETX assets from Crescent Pass for $106mm.(Oil and Gas 360)

  • Shell, BP, and TotalEnergies invest in Abu Dhabi LNG project.(WSJ)

  • Venezualean business mogul Cisneros partners with PDVSA in new oil venture.(Rigzone)

  • Honeywell acquires Air Products' LNG process equipment business for $1.8 billion.(Hart Energy)

  • California Resources completes merger with Aera Energy.(Hart Energy)

IPO/Direct Listing/Issuances/Block Trades

  • Saudi Arabia finalizes $12.35 billion from Aramco share sale.(Oil and Gas 360)

Debt

  • Greenfire Resources redeems $61 million of senior secured notes due 2028.(BOE Report)

  • Saudi Aramco begins sale of three-part bonds.(BOE Report)

SPAC

  • No deals that match this criteria.

Bankruptcy/Restructuring/Distressed

  • No deals that match this criteria.

Fundraising

  • Japan Bank for International Cooperation signs $415 million loan for Vietnam's Block B gas-to-power project.(Natural Gas World)

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