Industrywide Issues | M&A | Ohio | Pipelines
Tailwater Capital Buys Central Midstream, Including OH Utica Assets
Tailwater Capital LLC, an energy and infrastructure private equity firm based in Dallas, Texas, yesterday announced it has closed on the acquisition of a majority interest in Central Midstream Partners, LLC (originally established as Central Crude). Central Midstream provides liquids transportation, storage, and terminal services to support demand-pull customers across the Gulf Coast and in the Utica region. We have to confess we had not heard about nor written about Central Midstream before this announcement. Read More “Tailwater Capital Buys Central Midstream, Including OH Utica Assets”
We’ll open this post with this statement: There are no active rumors (that we are aware of) that Permian/Anadarko/Marcellus driller Coterra Energy is considering a merger with Permian/Anadarko/Monteny driller Ovintiv (formerly Encana). We did spot a post by Rystad Energy analysts who theorize that both companies (peers) would make a great combined company. The comments are part of a post titled “US shale braces for next consolidation wave as smaller players seek scale.” Rystad’s theory is that we will soon see smaller independents begin to merge to defend against the recent merger mania by larger companies, including ExxonMobil, Diamondback, Occidental, and ConocoPhillips. 
The second round of big news coming from Antero Resources today is the sale of the company’s Utica Shale assets. We told you in November that Antero, the largest Marcellus/Utica (M-U) driller in West Virginia, officially began to market its Ohio Utica assets for sale (see 
In January, Constellation Energy (a huge power-generating company) announced a deal to buy out and merge with Calpine (another huge power-generating company). Calpine owns 79 energy facilities across the country, generating some 27 gigawatts (GW) of electricity, with a significant number located in the eastern U.S. Many of Calpine’s facilities use natural gas to produce electricity. The two companies combined would own almost 60 GW of nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration, and battery storage. The Federal Energy Regulatory Commission (FERC) signed off on the deal in July, with conditions (see 
In July, MDN told you that Talen Energy, a leading energy producer in the U.S., which owns and operates approximately 10.7 gigawatts (GW) of power infrastructure, had announced the acquisition of two gas-fired power plants: one located near Wilkes-Barre in northeastern Pennsylvania, and the other in Guernsey County, in eastern Ohio (see 
In July, MDN told you that Talen Energy, a leading energy producer in the U.S., which owns and operates approximately 10.7 gigawatts (GW) of power infrastructure, had announced the acquisition of two gas-fired power plants: one located near Wilkes-Barre in northeastern Pennsylvania, and the other in Guernsey County, in eastern Ohio (see 
Infinity Natural Resources (INR), headquartered in Morgantown, WV, focuses 100% on the Marcellus/Utica. The company went public earlier this year with a $265 million ($20/share) initial public offering, giving INR a $1.18 billion market capitalization (see 
Disappointingly, the Trump Federal Trade Commission (FTC) voted 3-0 to maintain a “consent order” that prevents private equity firm Quantum Energy Partners from owning stock in EQT and prohibits the CEO of Quantum from serving on EQT’s Board of Directors. This is all to do with EQT’s purchase of fellow driller Tug Hill in 2023. In September 2022, EQT announced a deal to buy privately owned Tug Hill Operating’s West Virginia shale assets (90,000 acres and 800 MMcf/d of production in West Virginia) for roughly $5.2 billion (see 
It took over two years, but NextEra Energy finally sold its ownership interest in Meade Pipeline Co LLC to investment company Ares Management Corporation for $1.1 billion. You may recall that NextEra acquired Meade Pipeline for $1.37 billion in 2019 (see 
Earlier this month, we brought you the bombshell news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is preparing to market its Ohio Utica assets, hoping to fetch $900 million to $1 billion (see 
A power project we’ve been tracking since 2017 is a 620-megawatt (MW) Marcellus-fired electric plant in Greene County, PA, called the Hill Top Energy Center (
On Oct. 1, 2024, Chesapeake Energy announced that its buyout of and merger with Southwestern Energy in a $7.4 billion deal had been completed (see