Natural Gas Utilities

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Targa Resources Partners LP and Targa Resources Corp. complete acquisitions of Atlas Pipeline Partners, L.P. and Atlas Energy, L.P.

Friday, 27 Feb 2015 05:15pm EST

Targa Resources Partners LP and Targa Resources Corp:Says that they completed acquisitions of Atlas Pipeline Partners, L.P. and Atlas Energy, L.P, respectively.

Chesapeake Utilities Corp announces definitive merger agreement to acquire Gatherco, Inc.

Monday, 2 Feb 2015 04:48pm EST

Chesapeake Utilities Corp and Gatherco, Inc:Says that they have entered into merger agreement, dated as of Jan. 30, 2015 under which Chesapeake Utilities will acquire Gatherco.Upon consummation of transaction, Gatherco will merge into Aspire Energy of Ohio, LLC, wholly-owned subsidiary of Chesapeake Utilities.transaction was approved by Gatherco Board of Directors and by Chesapeake Utilities' Merger and Acquisition Committee.Merger, which is expected to close in second quarter of 2015, is subject to approval by the Gatherco shareholders.Chesapeake Utilities stockholder approval of merger is not required.Transaction has an aggregate value of about $59.2 million, inclusive of following.$49.8 million in exchange for all outstanding shares of Gatherco common stock, paid as follows.593,005 shares of Chesapeake Utilities common stock, valued at $29.9 million, and * $19.9 million in cash (before payment of certain transaction expenses and escrow deposits).$7.7 million in cash in consideration for cancellation of all outstanding Gatherco stock options.Assumption of Gatherco's debt at closing, estimated to be $1.7 million.Gatherco is natural gas infrastructure company providing natural gas midstream services.At close of transaction, Gatherco, as merged into Aspire Energy, will continue to operate as separate business unit.

EnLink Midstream signs definitive agreement to acquire Coronado Midstream

Monday, 2 Feb 2015 08:00am EST

EnLink Midstream Partners LP and EnLink Midstream LLC:Signs a definitive agreement to acquire Coronado Midstream Holdings LLC, which owns natural gas gathering and processing facilities in the Permian Basin, for about $600 mln, subject to certain adjustments.Owners of Coronado will receive $240 mln in cash, $180 mln of Partnership common units and $180 mln of a new class of Partnership common units, subject to certain adjustments.

Energy Transfer Partners and Regency Energy Partners to merge in an $18 bln Unit for Unit Transaction

Monday, 26 Jan 2015 09:05am EST

Energy Transfer Partners LP and Regency Energy Partners:Enters into a definitive merger agreement.Merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of about $18.0 bln, including the assumption of net debt and other liabilities of $6.8 bln.Transaction is expected to close in the second quarter of 2015.Under the terms of the merger agreement, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of $0.32 for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP's closing price on Jan. 23.Consideration to be received by Regency common unitholders represents an about 13 pct premium to the closing price of Regency's common units of $23.75 on Jan. 23 and about 15pct premium to the volume weighted average price of Regency's common units for the last 3 trading days.In addition, Energy Transfer Equity, which owns the general partner and 100 pct of the incentive distribution rights (IDRs) of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320 mln over a five year period.

Energy Transfer Partners and Regency Energy Partners to merge in an $18 bln Unit for Unit Transaction

Monday, 26 Jan 2015 09:05am EST

Energy Transfer Partners LP and Regency Energy Partners:Enters into a definitive merger agreement.Merger will be a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, that collectively implies a value for Regency of about $18.0 bln, including the assumption of net debt and other liabilities of $6.8 bln.Transaction is expected to close in the second quarter of 2015.Under the terms of the merger agreement, the unitholders of Regency will receive 0.4066 ETP common units and a cash payment of $0.32 for each common unit of Regency, implying an all-in price for Regency common units of $26.89 per unit based on ETP's closing price on Jan. 23.Consideration to be received by Regency common unitholders represents an about 13 pct premium to the closing price of Regency's common units of $23.75 on Jan. 23 and about 15pct premium to the volume weighted average price of Regency's common units for the last 3 trading days.In addition, Energy Transfer Equity, which owns the general partner and 100 pct of the incentive distribution rights (IDRs) of both Regency and ETP, has agreed to reduce the incentive distributions it receives from ETP by a total of $320 mln over a five year period.

Energtek Inc completes land purchase in Vermont for Filling Station

Thursday, 22 Jan 2015 05:25pm EST

Energtek Inc:Finalizes the land purchase in Vermont for the filling station.

Nissan Shatai revises sale of land to Mitsui Fudosan and Tokyo Gas

Tuesday, 13 Jan 2015 02:00am EST

Nissan Shatai Co Ltd:Revises sale of land, which was announced on July 25, 2013.To sell Kanagawa-based land of 143,270 square meters to Mitsui Fudosan Co Ltd, a Tokyo-based special purpose company and Tokyo Gas Co., Ltd.Former plan was to sell the Kanagawa-based land of 143,000 square meters to Mitsui Fudosan Co Ltd.

EnLink Midstream signs definitive agreement to acquire Permian Basin Crude Oil Logistics Company

Monday, 12 Jan 2015 05:00pm EST

EnLink Midstream companies, EnLink Midstream Partners, LP and EnLink Midstream, LLC:Says subsidiary of the Partnership has signed a definitive agreement to acquire LPC Crude Oil Marketing LLC (LPC), which has crude oil gathering, transportation and marketing operations in the Permian Basin, for about $100 mln.LPC currently purchases, transports and sells about 60,000 barrels per day of crude oil, serving as a critical link between Permian producers and end markets.Acquisition expands EnLink's service offerings in the Permian Basin, adding crude oil first purchasing and logistics capabilities to EnLink's existing natural gas gathering and processing services.Following the closing of the transaction, LPC will operate as an indirect subsidiary of the Partnership.EnLink Midstream companies, EnLink Midstream Partners, LP (the Partnership) and EnLink Midstream, LLC (General Partner) together called as EnLink.

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