Investment Summary

ONEOK Partners and Martin Midstream Partners Invest In West Texas LPG Pipeline

On December 1, 2014, ONEOK Partners and Martin Midstream Partners invested in oil/gas exploration company West Texas LPG Pipeline from Chevron

Investment Highlights
  • This is ONEOK Partners’ 3rd and Martin Midstream Partners’ 6th transaction in the Oil/Gas Exploration sector.
  • This is ONEOK Partners’ 3rd and Martin Midstream Partners’ 8th transaction in the United States.
  • This is ONEOK Partners’ 2nd and Martin Midstream Partners’ 3rd transaction in Texas.

Investment Summary

Date 2014-12-01
Target West Texas LPG Pipeline
Sector Oil/Gas Exploration
Investor(s) ONEOK Partners
Martin Midstream Partners
Sellers(s) Chevron
Deal Type Stake Purchase

Target

West Texas LPG Pipeline

Bellaire, Texas, United States
West Texas LPG Pipeline Limited Partnership transports natural gas liquids through pipelines.

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Investor(S) 2

Investor

ONEOK Partners

Tulsa, Oklahoma, United States

Category Company
Founded 1993
Sector Energy Services and Equipment
Revenue 7.8B USD (2015)
DESCRIPTION

ONEOK Partners, L.P. is a publicly traded limited partnerships in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting much of the natural gas and NGL supply in the Mid-Continent with key market centers.


DEAL STATS #
Overall 3 of 3
Sector: Oil/Gas Exploration M&A 3 of 3
Type: Stake Purchase M&A Deals 1 of 1
State: Texas M&A 2 of 2
Country: United States M&A 3 of 3
Year: 2014 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-27 Mesquite Pipeline Co.

Texas, United States

Mesquite Pipeline Company owns and operates natural gas liquids pipelines.

Buy $800M
Investor

Martin Midstream Partners

Kilgore, Texas, United States

Category Company
Founded 2002
Sector Energy Services and Equipment
Revenue 708M USD (2024)
DESCRIPTION

Martin Midstream Partners is engaged in terminalling, storage and packaging services for petroleum products and by-products including refining, blending and packaging of finished lubricants, Natural gas liquids distribution services and natural gas storage. Martin Midstream Partners was founded in 2002 and is based in Kilgore, Texas.


DEAL STATS #
Overall 8 of 9
Sector: Oil/Gas Exploration M&A 6 of 6
Type: Stake Purchase M&A Deals 1 of 1
State: Texas M&A 3 of 4
Country: United States M&A 8 of 9
Year: 2014 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-11 Cardinal Gas Storage Partners

Houston, Texas, United States

Cardinal Gas Storage Partners LLC focuses on the operation and management of natural gas storage facilities in the Gulf Coast region. Cardinal Gas believes that the natural gas storage business plays a fundamental role in supporting the nation's growing natural gas supply and demand. Cardinal's storage facilities are positioned in strategic locations for customers which will continue to enhance the value of Cardinal's assets and increase demand for our gas storage capacity. Cardinal currently operates both salt cavern and depleted reservoir gas storage facilities. Arcadia Gas Storage, LLC, Cadeville Gas Storage LLC, Monroe Gas Storage Company, LLC and Perryville Gas Storage LLC

Buy $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-21 Martin Midstream Partners - Corpus Christi

Texas, United States

Martin Midstream Partners LP - Corpus Christi is a provider of crude oil and refined products.

Sell $93M

Seller(S) 1

SELLER

Chevron

San Ramon, California, United States

Category Company
Founded 1879
Sector Oil/Gas Exploration
Employees45,298
Revenue 193.4B USD (2024)
DESCRIPTION
Chevron office in downtown Houston, Texas.
Chevron office in downtown Houston, Texas.

Chevron is a fully integrated energy company. Its business includes petroleum operations, chemicals, mining operations, power generation and energy services. Chevron's exploration and production operations consists of exploration, development and production of crude oil and natural gas. Chevron was incorporated in 1879 and is based in San Ramon, California.


DEAL STATS #
Overall 8 of 14
Sector: Oil/Gas Exploration M&A 7 of 10
Type: Stake Purchase M&A Deals 1 of 1
State: Texas M&A 3 of 3
Country: United States M&A 6 of 12
Year: 2014 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-27 Mesquite Pipeline Co.

Texas, United States

Mesquite Pipeline Company owns and operates natural gas liquids pipelines.

Sell $800M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-04 Kosmos Energy - Mauritania Oil and Gas Exploration

Bermuda

Mauritania is a significant extension of the core Cretaceous theme along the West Africa Transform Margin that Kosmos confirmed in the Tano Basin offshore Ghana.

Buy -