Western Midstream Partners (WES) has priced an offering of $700 million of 5.7% senior notes due 2036 at 99.705% of face value, the midstream energy company said late Monday.
Closing is expected to occur on June 25.
Net proceeds will be used to repay debt under a revolving credit facility and a commercial paper program, and for general business purposes, the company said.
China Merchants Energy Shipping (SHA:601872) said China Petroleum & Chemical Corp. (SHA:600028, HKG:0386), or Sinopec, trimmed its stake in the company to 12.57% from 13.57%.Sinopec sold 80.7 million shares for about 1.45 billion yuan, according to a Tuesday filing with the Shanghai bourse.
Kimbell Royalty Partners (KRP) closed its acquisition of mineral and royalty interests from Mesa Royalties for $145.9 million in units and cash.The deal was funded with 6.9 million newly issued common units valued at $101.9 million and $44 million in cash, Kimbell said Monday in a statement.The assets span 16 Permian Basin counties and are expected to produce 1,390 barrels of oil equivalent per day over the next 12 months, Kimbell said.
TechnipFMC (FTI) has secured a contract to supply flexible pipe for Azule Energy's Greater PAJ offshore development in Angola, the company said Monday.The company said it will make flexible flowlines and risers to connect wells at depths of nearly 2,000 meters to a new floating production facility.The contract value could range between $75 million and $250 million, according to a statement.