From Rigzone. Data points:
- prospective buyers: Blackstone Group Inc. and Apollo Global Management
- Apollo would invest through Spartan Energy Acquisition Corp, a special purpose acquisition vehicle
- other prospective buyers: Global Infrastructure Partners and KKR & Co
- asset: Western Midstream Partners LP
- 15,200 miles of oil and gas pipelines
- six dozen (72) processing and treatment facilities in the midwest and Texas
- sounds exactly like something Warren Buffett might like
- and he was in on the OXY deal
- asset owned by and being sold by: Occidental Petroleum Corp
- could be finalized by end of year
- asset value: publicly traded -- $12 billion
- but often bought at a premium -- would dwarf the recent Energy Transfer / SemGroup $5 billion deal
- Occidental Petroleum acquired a majority stake in the company via its
purchase last month of Anadarko Petroleum Corp., which had formed the
company to house its pipeline operations. The potential divestiture
would help Occidental meet its goal of selling $10 billion to $15
billion in assets over the next two years to pay down debt.
I find this fascinating on so many levels. Most fascinating: why is Warren Buffett not rumored to be interested?
Link here.
2009: Warren Buffett bought BNSF in a deal valued at $44 billion.
Link here: Kinder Morgan and Warren Buffett.
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Going To The Store To Get Some Pork Rinds
