Killajoules

Enterprise to Sell Offshore Gulf of Mexico Business to Genesis
Enterprise Products Partners L.P. (NYSE:EPD) today announced that it has executed definitive agreements to sell its offshore Gulf of Mexico pipelines and services business, which primarily consists of its Offshore Pipelines & Services business segment to Genesis Energy, L.P. (“Genesis”) for approximately $1.5 billion in cash. The transaction is expected to close during the third quarter of 2015. Enterprise’s offshore assets include its ownership interest in nine crude oil pipeline systems with more than 1,100 miles of pipeline; nine natural gas pipeline systems totaling approximately 1,200 miles of pipeline; and its ownership interest in six offshore hub platforms.

Shell to sell its equity interest in the Elba LNG joint venture to Kinder Morgan
Kinder Morgan, Inc. (NYSE: KMI) and Shell today announced that they have reached an agreement for Kinder Morgan to purchase 100 percent of Shell's equity interest in Elba Liquefaction Company, LLC (ELC), the owner of the Elba Liquefaction Project, which is proposed to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia.

Shell Midstream Partners, L.P. Acquires Interest in Poseidon Oil Pipeline
Shell Midstream Partners, L.P. (NYSE: SHLX) today announced it has closed the acquisition of a 36% equity interest in Poseidon Oil Pipeline Company L.L.C. (Poseidon) for $350 million from Equilon Enterprises LLC, a subsidiary of Shell Oil Products US.

Enterprise Signs Additional Commitment for Aegis Ethane Pipeline
Enterprise Products Partners L.P. (NYSE:EPD) today announced it has executed a long-term agreement for incremental ethane transportation capacity on the partnership’s Aegis pipeline. With this agreement, total capacity commitments for the Aegis pipeline will ramp up over the next four years to more than 300,000 barrels per day ("BPD").

Shell takes final investment decision for the Appomattox deep-water development in Gulf of Mexico
Royal Dutch Shell plc (Shell) today announces the final investment decision (FID) to advance the Appomattox deep-water development in the Gulf of Mexico. This decision authorises the construction and installation of Shell’s eighth and largest floating platform in the Gulf of Mexico.

NextDecade Raises Additional $85 million in Pre-FID Funding for its Rio Grande LNG Project, Makes Significant Progress with FERC
NextDecade, LLC (NextDecade) announced that Valinor Management, L.P. (Valinor) and Halcyon Energy Investors, L.P. (Halcyon) have joined certain funds managed by York Capital Management Global Advisors, LLC and its affiliates (York) in providing NextDecade with an additional US$85 million in order to take the Rio Grande LNG (RGLNG) and Rio Bravo Pipeline project to Final Investment Decision (FID) as well as to fund the continued development of Pelican Island LNG (PILNG) in Galveston, Texas. The terms of the transaction include options for NextDecade’s three strategic investors to invest the requisite FID equity sufficient to commence construction of the RGLNG project. Together, York, Valinor and Halcyon manage assets in excess of US$40 billion. Jefferies LLC served as sole placement agent for NextDecade.

Air Products’ LNG Technology and Equipment Picked Again for Freeport LNG Terminal Facility
Air Products (NYSE: APD), the global leader in liquefied natural gas (LNG) technology and equipment, announced today an agreement to provide its proprietary LNG technology, equipment, and process license for Freeport LNG Development, L.P.’s Train 3 gas liquefaction and export project. The sale includes Air Products’ main cryogenic coil-wound heat exchangers and associated technology, which will be vital in the production of LNG at the facility near Freeport, Texas.

Hess Announces Bakken Midstream Joint Venture Valued at $5.35 Billion
Hess Corporation (NYSE: HES) (the “Company”) announced today that it has agreed to sell a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners, a leading global infrastructure investor with an extensive midstream energy investment track record, for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners. Upon closing, the joint venture will incur $600 million of debt through a 5-year Term Loan A facility with proceeds distributed equally to both partners, resulting in total after-tax cash proceeds, net to Hess, of $3.0 billion. In addition the joint venture will have independent access to capital including a $400 million 5-year Senior Revolving Credit Facility, which is fully committed. The joint venture upon closing plans to continue to pursue a proposed initial public offering (IPO) of Hess Midstream Partners LP common units.

McDermott Awarded Otis Field Subsea Tieback Project by LLOG
McDermott International, Inc. (NYSE: MDR) has been awarded a sizeable lump sum contract by LLOG Exploration Offshore, LLC (LLOG) in support of LLOG’s Otis development located in the Gulf of Mexico. The lump sum contract will be included in McDermott’s second quarter 2015 backlog.

ExxonMobil Sells Share of Chalmette Refining, LLC in Louisiana
ExxonMobil has reached an agreement with PBF Energy Inc. for the sale and purchase of its 50 percent interest in Chalmette Refining, LLC in Chalmette, Louisiana.