News Coverage


Oxy selling midstream assets, terminal to Houston cos.

Oxy selling midstream assets, terminal to Houston cos.

- Houston Business Journal
Houston-based Occidental Petroleum Corp. (NYSE: OXY) is selling several of its midstream assets in two separate deals to Houston-based companies financed by a San Antonio-based venture capital firm. 
In one deal, Sugar Land-based Lotus Midstream LLC will acquire Oxy’s Centurion Pipeline, which is a 3,000-mile crude oil pipeline system, and a Southeast New Mexico crude oil gathering system, which is about 50 miles of crude oil pipelines, according to a press release from...

Lotus Midstream to Acquire Centurion Pipeline

Lotus Midstream to Acquire Centurion Pipeline

- https://www.businesswire.com/news/home/20180808005802/en/Lotus-Midstream-Acquire-Centurion-Pipeline
Crude oil logistics provider Lotus Midstream, LLC (“Lotus”) today announced it has entered into a definitive agreement to acquire the Centurion pipeline system and a Southeast New Mexico crude oil gathering system from Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY). The transactionis expected to close later in the third quarter of 2018, subject to customary closing conditions.
The Centurion pipeline system is a large-scale, integrated network of...

Osprey Energy Acquisition Corp.’s Acquisition fo Royal Resources Assets from Blackstone

Osprey Energy Acquisition Corp.’s Acquisition fo Royal Resources Assets from Blackstone

- Global Legal Chronicle
Paul Hastings LLP is acting as Special Oil and Gas Counsel to Osprey Energy Acquisition Corp., an energy-focused special purpose acquisition entity, in its pending acquisition through a business combination of the assets of Royal Resources, an entity owned by funds managed by Blackstone Energy Partners and Blackstone Capital Partners.
The Royal assets to be acquired represent the entirety of Blackstone’s mineral interests in the Eagle Ford Shale, and the transaction will create a...

Jimmy Vallee | M&A Trends in the Energy Sector

Osprey Energy Acquisition Corp. Acquires Royal Resources Assets from Blackstone in $894 Million Business Combination

Osprey Energy Acquisition Corp. Acquires Royal Resources Assets from Blackstone in $894 Million Business Combination

- Paul Hastings
Paul Hastings LLP, a leading global law firm, announced today that the firm is acting as Special Oil and Gas Counsel to Osprey Energy Acquisition Corp., an energy-focused special purpose acquisition entity, in its pending acquisition through a business combination of the assets of Royal Resources, an entity owned by funds managed by Blackstone Energy Partners and Blackstone Capital Partners. The Royal assets to be acquired represent the entirety of Blackstone's mineral interests in the Eagle...

Great Salt Plains Midstream’s Acquisition of Thunderbird Midstream

Great Salt Plains Midstream’s Acquisition of Thunderbird Midstream

- Global Legal Chronicle
Paul Hastings LLP advised Great Salt Plains Midstream, LLC on the deal
Great Salt Plains Midstream Holdings, LLC (“GSPM”) recently closed on its acquisition of Thunderbird Midstream LLC. Both firms have headquarters in Oklahoma City.
The acquired assets include the Thunderbird Midstream cryogenic natural gas plant with 20 million cubic feet of natural gas per day (MMcf/d) processing capacity. The plant began operations in 2016 and is located on more than 40 acres to...

Energy Trends Reshaping America's Future

How to Mine for Yield with MLPs

How to Mine for Yield with MLPs

Investors OK with risk should look at master limited partnerships.

- US News & World Report
Fixed-income investors dismayed by skimpy earnings on bonds and bank savings might be wise to look further afield – maybe as far as the Permian Basin of Texas or Marcellus Shale country in Pennsylvania, where one can buy into an oil or gas processing plant, storage field or pipeline.
If that sounds like a game for just the big boys, think again.
Ordinary investors with a stomach for risk can play too, with master limited partnerships, or MLPs, a kind of fund traded in "units"...

Oil & Gas Mergers and Acquisitions Lawyer: Jimmy Vallee

Oil & Gas Mergers and Acquisitions Lawyer: Jimmy Vallee

- Interview Platform Magazine
Staff:  The title of your book, Giant Shifts suggests we’re headed for big energy-driven changes. What do you see for the oil and gas industry in the next decade?
Jimmy Vallee: We’re already in the midst of significant and fundamental shifts in the oil and gas industry.  We've recently completed one of the longest energy bull markets in a generation - the "shale revolution."  Starting in 2000 and gaining momentum coming out of the 2008 financial crisis, the...

Low oil prices produce calamity: Opposing view

Low oil prices produce calamity: Opposing view

- USA Today
Economic calamity is what to expect from a prolonged period of low oil and gas prices. In fact, it’s already happening. Job losses, corporate loan defaults, reduced investments and an end to the recent reshoring trend are all propelling the U.S. toward recession.
While conventional wisdom suggests we celebrate low oil prices as a consumer spending trigger — with spiking gas guzzler sales, more sales tax revenues, and cheap fuel for planes, trains and trucks — don’t...

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