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  4. Crestwood Equity to boost U.S. shale footprint with $1.8 billion deal
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Crestwood Equity to boost U.S. shale footprint with $1.8 billion deal

(Reuters) -Oil and gas pipeline company Crestwood Equity (NYSE:CEQP) Partners LP agreed to buy Oasis Petroleum (NASDAQ:OAS) Inc's midstream unit in a $1.8 billion deal, as it...
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Crestwood Equity to boost U.S. shale footprint with $1.8 billion deal © Reuters. FILE PHOTO: Drill pipe is seen below a drilling rig on a lease owned by Oasis Petroleum in the Permian Basin near Wink, Texas U.S. August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford

(Reuters) -Oil and gas pipeline company Crestwood Equity (NYSE:CEQP) Partners LP agreed to buy Oasis Petroleum (NASDAQ:OAS) Inc's midstream unit in a $1.8 billion deal, as it looks to expand its footprint in U.S. shale basins.

The cash-and-stock deal comes as oil and gas prices have touched multi-year highs, boosting shareholders' confidence in the sector and encouraging mergers.

Last week, Altus Midstream Co announced a merge with BCP Raptor, a holding company for pipeline assets in the Permian Basin, with the combined entity to be valued at $9 billion, inclusive of debt.

Crestwood estimates it can capture over $20 million in incremental annual cash flow over the next several years from the Oasis deal and identified about $25 million in annual cost savings shortly after the transaction closes in 2022.

Crestwood also said on Tuesday it expects to increase its distribution to $2.62 per unit annually, an about 5% increase year-over-year, after the deal closes.

Oasis Petroleum will receive $150 million in cash and an aggregate of 21 million units in exchange for 33.8 million units held in its midstream company. It will also receive a $10 million cash payment for its ownership of the General Partner interest of Oasis Midstream.

Shareholders of Oasis Midstream, which had an outstanding debt of about $660 million as of Sept. 30, will receive an aggregate of 12.9 million Crestwood units in exchange for 14.8 million shares held.

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

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EUR/USD

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GBP/USD

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USD/JPY

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
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 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
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Cập nhật 31-03-2024 10:19:52
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Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
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Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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