Allen Pusey

1 week ago | texaslawbook.net | Allen Pusey

In what they described as a “transformative transaction” to strengthen Canadian “economic resilience,” Calgary-based Keyera Corp announced Tuesday that it has agreed to acquire virtually all Canadian NGL assets owned by Plains All American Pipeline and its parent company, Plains GP Holdings, for $3.75 billion (CD$5.15 billion). Plains AA will retain NGL assets in the U.S. and all its crude oil assets in Canada.

1 week ago | texaslawbook.net | Allen Pusey

After five weeks in a row logging transactions valued at $20 billion or more, deal values finally hit the wall. Nine deals reported during the week that ended June 14 held a combined value of $478 million. That represents the lowest total tallied by the CDT Roundup since May 2020. Splat. Just last week we reported 14 deals for $26 billion. Last year at this time, we reported 20 deals for $17 billion.

2 weeks ago | texaslawbook.net | Allen Pusey

Paul Hastings announced Wednesday that it has added Christopher Richardson, formerly a partner at White & Case, continuing the expansion of the firm’s global energy and infrastructure practice. Richardson is a veteran oil & gas transactions and projects lawyer of more than two decades, including more than six years as head of the energy and infrastructure projects practice in the Americas, at White & Case.

2 weeks ago | texaslawbook.net | Allen Pusey

Baker Hughes continued its divestment of non-core assets with the announcement Monday (June 9) of the sale of its manufacturing subsidiary, Precision Sensors & Instrumentation, to the Crane Company for $1.15 billion. The price tag includes an anticipated $90 million tax benefit. Just last week, the Houston-based company announced the contribution of its surface pressure control business to a joint venture to be operated by Cactus Inc.

2 weeks ago | texaslawbook.net | Allen Pusey

Yes, the streak is still alive: for five weeks in a row, transactions have totaled more than $20 billion. Last week, there were 16 deals valued at $26.2 billion. And more than $24 billion of that was in M&A and fundings. Last week there were 19 transactions valued at $23 billion, but nearly $5 billion of that was in capital markets and credit transactions. Last year at this time there were 19 deals for $23 billion, same as last week.