Factbox: Deals on the rise in US oil and gas pipeline sector

Holly Energy Partners LP

21/09/2023 17:54

Sept 21 (Reuters) - Magellan Midstream Partners'  MMP.N 
unitholders on Thursday voted in favor of the U.S. pipeline
operator's planned sale to larger peer ONEOK  OKE.N  for $18.8
billion.
    The oil and gas pipeline business has seen increased
consolidation this year as U.S. production grows and
new-pipeline permitting problems have made existing operators
more valuable.
    
    Here are the major deals in the U.S. pipeline sector in
2023: 
    
 Target               Acquirer           Deal type    Deal value
                                                      (in USD)
 Blackstone  BX.N     Targa Resources    Asset        $1.05
                       TRGP.N            Acquisition  billion
 Lotus Midstream      Energy Transfer    M&A          $1.45
                       ET.N                           billion
 Magellan Midstream   ONEOK  OKE.N       M&A          $18.8
 Partners  MMP.N                                      billion
 Holly Energy         HF Sinclair        M&A          $1.44
 Partners  HEP.N       DINO.N                         billion 
 Crestwood Equity     Energy Transfer    M&A          $7.1
 Partners  CEQP.N      ET.N                           billion
 Meritage Midstream   Western Midstream  M&A          $885
 Services II          Partners  WES.N                 million
 

 (Compiled by Sourasis Bose in Bengaluru; Edited by Shounak
Dasgupta)
 ((Sourasis.Bose@thomsonreuters.com))