Whitecap 通过两笔交易出售天然气处理厂的股份

一位分析师表示，在单独的交易中，WhiteCap Resources 将天然气加工资产出售给了 Topaz Energy 和 Pembina Pipeline，此举加强了 Pembina 在西艾伯塔省的地位。

沙
塞格里斯特
哈特能源

加拿大 E&P  Whitecap Resources (WCP)的天然气加工资产吸引了两位买家，两笔交易总价值为 5.2 亿加元（3.52 亿美元）。该公司于 7 月 2 日宣布与Pembina Pipeline (PBA) 和 Topaz Energy (TPZ)
分别达成协议  。

Pembina 和 Whitecap 建立了战略合作伙伴关系，其中包括 Pembina 获得天然气加工厂 50% 的股份以及从 Whitecap 获得专用天然气。

两家公司表示，Pembina 斥资 2.52 亿美元收购了 Whitecap 的 Kaybob Complex 50% 的股份，扩大了其在加拿大阿尔伯塔省西部的天然气加工能力。

Pembina Gas Infrastructure (PGI) 总裁兼首席执行官 Chris Rousch 表示，Pembina 已做好准备，支持 Whitecap 在附近 Montney 和 Duvernay 页岩的开发。PGI 由 Pembina Pipeline Corp. 和私募股权公司KKR共同拥有。

“这些油田具有巨大的增长潜力，我们很荣幸成为 Whitecap 的基础设施合作伙伴，”Rousch 在 7 月 2 日的新闻稿中表示。

Kaybob 天然气处理设施的天然气处理能力为 1.65 亿立方英尺/天，凝析油稳定能力为 15,000 桶/天。

Whitecap 将继续运营该工厂。Whitecap 签署了一份长期的“承接或使用”协议，以支持未来为该工厂供应天然气，并与 Pembina 就 Whitecap 的 Cutbank Complex 达成了类似但规模较小的协议。

此外，Pembina 同意资助 Whitecap 在 Lator 地区的开发项目，其中包括 Pembina 将拥有的一座新电池和一条横向收集管道。作为回报，Whitecap 将把 Lator 地区的部分天然气输送到 Pembina 的管道网络。

该交易将通过 Pembina 现有的信贷安排支付，预计将于 2024 年第三季度完成。

据股票研究公司 TPH&Co 称，凯博布工厂在 2024 年的平均天然气加工量为 1.21 亿立方英尺/天，其中 5 月份（有最新数据可查的月份）的天然气加工量为 1.08 亿立方英尺/天。

TPH 认为这笔交易对加拿大主要的中游公司之一 Pembina 有利。此举加强了 PGI 在页岩盆地开发领域的 G&P 地位，并允许该公司增加其下游资产的产量。

TPH 在分析中表示，“总体而言，我们认为这笔交易对（PBA）的前景具有建设性意义，并希望看到更多 G&P 交易，以确保额外的产量，因为随着 LNG Canada、Woodfibre 和 Cedar 将在未来几年内投入使用，该盆地将迎来增量供应增长。”

黄玉交易

Topaz 将收购 Whitecap 天然气处理厂 50% 的经营权益。
根据协议，这家中游公司将以 1 亿美元收购 Whitecap 位于西艾伯塔省的 Musreau 工厂 50% 的股份。

Whitecap 将继续运营该设施，其中包括每天 4300 万立方英尺的气体压缩能力和每天 12,500 桶的凝析油稳定能力。

该工厂于 3 月完工，为 Montney Shale 提供服务。Whitecap 与 Topaz 的交易于 6 月 24 日完成。

原文链接/HartEnergy

Whitecap Sells Stakes in Gas Processing Plants in Two Deals

In separate deals, WhiteCap Resources sold gas processing assets to Topaz Energy and Pembina Pipeline—a move that strengthens Pembina’s Western Alberta position, an analyst said.

Sandy
Segrist
Hart Energy

Canadian E&P Whitecap Resources (WCP)’s  gas processing assets have lured in a pair of buyers in a pair of deals valued at a combined CA$520 million (US$352 million).
The company announced separate agreements with Pembina Pipeline (PBA) and Topaz Energy (TPZ) on July 2.

Pembina and Whitecap entered a strategic partnership that includes Pembina securing a 50% stake in a natural gas processing plant and dedicated natural gas volumes from Whitecap.

Pembina’s US$252 million acquisition expands its natural gas processing capacity in western Alberta, Canada, with a 50% stake in Whitecap’s Kaybob Complex, the companies said.

With the move, Pembina has positioned itself to support Whitecap’s development in the nearby Montney and Duvernay shales, according to Pembina Gas Infrastructure (PGI) President and CEO Chris Rousch. PGI is jointly owned by Pembina Pipeline Corp. and private equity firm KKR.

“These plays have significant growth potential, and we are proud to be Whitecap’s infrastructure partner,” Rousch said in a July 2 press release.

The Kaybob natural gas processing facility has a capacity of 165 MMcf/d of natural gas and condensate stabilization capacity of 15,000 bbl/d.

Whitecap will continue to operate the plant. Whitecap entered into a long-term take-or-play agreement to support future natural gas volumes feeding the plant and agreed to similar but smaller agreements with Pembina at Whitecap’s Cutbank Complex.

In addition, Pembina agreed to fund a Whitecap development in the Lator area, which includes a new battery and a lateral gathering pipeline that Pembina will own. In return, Whitecap will dedicate some natural gas volumes in the Lator area to Pembina’s pipeline network.

The deal will be paid for through Pembina’s existing credit facility and is expected to close in third-quarter 2024.

According to equity research firm TPH&Co, the Kaybob plant has processed an average of 121 MMcf/d of natural gas in 2024, including 108 MMcf/d processed in May, the last month with available data.

TPH rated the deal as favorable for Pembina, one of Canada’s primary midstream companies. The move strengthens PGI’s G&P position in developing shale basins and allows the company to add volume to its downstream assets.

“Overall, we view this deal as constructive for (PBA’s) outlook and hope to see more G&P deals that secure additional volumes as the basin sets up for incremental supply growth with LNG Canada, Woodfibre and Cedar set to come online over the next few years,” TPH said in its analysis.

Topaz transaction

Topaz will acquire a 50% working interest in one of Whitecap’s gas processing plants.
Under the deal, the midstream company paid $100 million for a 50% stake in Whitecap’s Musreau Facility, also in West Alberta.

Whitecap will continue operating the facility, which includes gas compression capacity of 43 MMcf/d and condensate stabilization of 12,500 bbl/d.

The plant was completed in March and provides service in the Montney Shale. Whitecap’s transaction with Topaz closed on June 24.