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2015-09-29 20:50:00

MERGER $37.7 BLN

MERGER $37.7 BLN

Energy Transfer Equity LP (ETE), Dallas, and Williams Cos. Inc., Tulsa, have agreed to merge in a deal valued at $37.7 billion, including the assumption of debt and other liabilities. Williams previously rejected an unsolicited all-equity acquisition proposal by ETE valued at $53.1 billion.

ETE says the merger will create the third largest energy franchise in North America and one of the five largest global energy companies.

"As a combined company, we will have enhanced prospects for growth, be better able to connect our customers to more diverse markets, and have more stability in an environment of low commodity prices," said Alan Armstrong, Williams president and chief executive officer. "Importantly, Williams Partners will retain its current name and remain a publicly traded partnership headquartered in Tulsa, Okla."

Under the deal's terms, ETE affiliate Energy Transfer Corp. LP will acquire Williams at an implied current price of $43.50/Williams share. The companies believe that all stakeholders will benefit from the cash flow diversification associated with ownership in three large investment grade master limited partnerships, including Energy Transfer Partners LP and Sunoco Logistics Partners LP.

ogj.com

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Tags: ETE, WILLIAMS, MERGER

Chronicle:

MERGER $37.7 BLN
2018, September, 24, 15:05:00

SAUDI ARAMCO WANTS +50%

ARAB NEWS - Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (bpd) in 2020, 50 percent higher than current levels, the company's top official said on Monday.

MERGER $37.7 BLN
2018, September, 24, 15:00:00

U.S. RIGS DOWN 2 TO 1,053

BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 1,053, with oil rigs down 1 to 866, gas rigs unchanged at 186, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 29 rigs from last week to 197, with oil rigs down 13 to 135 and gas rigs down 16 to 62.

MERGER $37.7 BLN
2018, September, 21, 11:00:00

OIL PRICE: NEAR $79 STILL

REUTERS - International benchmark Brent crude for November delivery LCOc1 was up 26 cents, or 0.33 percent, at $78.96 a barrel by 0647 GMT. U.S. West Texas Intermediate crude for October delivery CLc1 was up 7 cents, or 0.10 percent, at $70.39 a barrel.

MERGER $37.7 BLN
2018, September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

BLOOMBERG - Russia's oil output is currently fluctuating between 1.54 million and 1.55 million tons a day -- driven mainly by state-run giant Rosneft PJSC -- the official said, asking not to be named as the information isn’t public yet. That equates to 11.29 million to 11.36 million barrels a day, beating the previous record of 11.25 million barrels a day set in October 2016 before Russia agreed with the Organization of Petroleum Exporting Countries to cut production.

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