Today's Transactions:
NuStar Energy Closes Oil Pipeline Asset Deal for $325M
NuStar is also spending $100 million on natural gas liquid assets
Oil company NuStar Energy LP (NYSE: NS) has closed on its purchase of crude oil pipeline, gathering and storage assets in the Eagle Ford shale region for about $325 million.
The company is also spending about $100 million to buy natural gas liquid assets in the Eagle Ford region. TexStar Midstream Services LP is selling the assets for both deals.
NuStar expects to grow its fee-based pipeline and storage operations.
The deal is one of many in the hot energy sector, including Plains All American Pipeline LP’s (NYSE: PAA) purchase of oil assets for $125 million announced Dec. 13, and Access Midstream Partners LP’s purchase Chesapeake Midstream Operating LLC, announced Dec. 12.
For more on the energy sector, see “Fracking Fuels Energy Deals” and our special report, “Energy M&A on Fire in December.”
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