Black Bear Transmission (Southeast Pipeline Co.) Selling to Enstor
Black Bear Transmission (BBT), the owner of nine regulated short pipeline transmission systems in the Southeastern U.S. totaling approximately 1,700 miles of pipeline, with a throughput capacity of about 2.6 billion cubic feet per day (Bcf/d), is selling itself to Enstor Pipeline Holdings, LLC, for an undisclosed sum. Black Bear’s pipelines interconnect with 16 major long-haul pipelines and storage facilities across seven states, including Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee. Believe it or not, there is a connection to the Marcellus/Utica. Read More “Black Bear Transmission (Southeast Pipeline Co.) Selling to Enstor”
Iron Oak Energy is a proppant and solutions provider with over 34 million tons of annual production capacity (i.e., a big frac sand company). Iron Oak’s assets include leading positions in the largest U.S. shale plays and strategically located terminals to distribute sand to the company’s customers. Yesterday, Iron Oak announced a deal to buy the Northern White assets of HC Minerals, Inc. The assets include a frac sand plant in Wyeville, Wisconsin, and four terminals in the Marcellus and Utica shales to distribute the sand. 
EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in several other countries) announced at the end of May it had made a deal to buy Encino Energy and Encino’s massive Ohio Utica Shale assets for $5.6 billion (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 large 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. Although several regulatory agencies must sign off on the deal, the primary agency that needs to clear it is the Federal Energy Regulatory Commission (FERC). Last week, FERC gave its stamp of approval. 
In June, EQT Corp. agreed to pay $167.5 million to investors who claimed the company overstated the benefits of its $6.7 billion merger with Rice Energy (see 
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 
In May, NRG Energy announced a deal to acquire LS Power’s portfolio of natural-gas power plants in a deal valued at roughly $12 billion, including debt, that will expand NRG’s footprint in Texas and along the East Coast (see 
Gas-fired power plants, both brand new and existing plants, are hot properties these days. We’ve covered several recent sales of existing gas-fired power plants in the Marcellus/Utica region (and beyond). Here’s another one: investment firm Strategic Value Partners, LLC (SVP) announced yesterday that it’s acquiring Red Oak Power, an 831-megawatt natural gas-fired combined-cycle generation facility located in Sayreville, New Jersey. 
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 
Talk about shotgun weddings! WhiteHawk Energy has been smitten with PHX Minerals for two years. WhiteHawk repeatedly proposed marriage (M&A), yet PHX repeatedly gave WhiteHawk the cold shoulder (
This is an unfortunate part of mergers and acquisitions. The Houston Chronicle is reporting that a WARN notice (Worker Adjustment and Retraining Notification) filed by Encino Energy indicates that 121 Encino workers will be laid off on or around August 17. No reason is given, however, EOG Resources is in the process of buying out and merging in Encino’s Ohio Utica assets (see 
Gas-fired power plants in the Marcellus/Utica region (and beyond) continue to change hands at a dizzying pace. Last week, MDN brought you the news that NRG Energy agreed to acquire LS Power’s portfolio of natural-gas power plants in a deal valued at roughly $12 billion, including debt, that will expand NRG’s footprint in Texas and along the East Coast (see