Investment Firms Up Offer to Buy Martin Midstream to $175MM
Nut Tree Capital Management LP and Caspian...
Nut Tree Capital Management LP and Caspian Capital LP increased their offer to acquire Kilgore, Texas-based Martin Midstream Partners (MMLP) for $175 million, announced on July 29.
Nut Tree and Caspian’s proposal represents a 48% premium over the $3.05 per common unit offer made in May by Martin Resource Management (MRMC), or $100.3 million.
Nut Tree and Caspian’s latest proposal ups by $0.50 the firms’ initial $4 per unit offer made on July 11. That deal would have paid roughly $131 million cash for MMLP’s outstanding units.
SandRidge Energy Buys Western Anadarko Cherokee Assets for $144MM
Midcontinent E&P SandRidge Energy is getting...
Midcontinent E&P SandRidge Energy is getting deeper in the Western Anadarko Basin through M&A.
According to the Oklahoma City-based company, SandRidge signed an agreement to acquire producing assets and leasehold interests in the Cherokee play of the Western Anadarko for $144 million in cash, announced after markets closed on July 29. The seller wasn’t disclosed.
The company also entered into a joint development agreement regarding future development of certain acquired assets. SandRidge did not name the company it is partnering with.
FDA approves blood test for colon cancer screenings. The...
FDA approves blood test for colon cancer screenings. The test, made by Guardant Health and known as Shield, is expected to be available as soon as next week and offers a new way of detecting colon cancer, which is the second-highest cause of cancer deaths in the US. While a blood test sounds a lot more comfortable than a colonoscopy, it’s meant to add an option to the menu, not to replace colonoscopies entirely, especially since it can’t pick up precancerous growths. Still, doctors are hopeful that the availability of a less invasive method will help boost screening rates.
Novak Djokovic beat Rafael Nadal in the 60th, and possibly last, matchup of the two tennis greats.
Apple released a preview of its Apple Intelligence AI features.
A 17-year-old was arrested on suspicion of killing two children and wounding 11 people in a knife attack at a Taylor Swift-themed event at a dance school in the UK.
Donald Trump agreed to be interviewed by the FBI as part of the investigation into the assassination attempt against him.
Los Angeles was shaken by a 4.9 magnitude earthquake.
RRC gets involved following upsurge of W. Texas quakes
A recent spate of Permian Basin earthquakes has prompted the Railroad...
A recent spate of Permian Basin earthquakes has prompted the Railroad Commission of Texas to start investigating disposal wells within a 2.5-mile radius of the affected area. Although stricter regulations helped reduce earthquake frequency last year, five earthquakes of magnitude 4 or higher have struck West Texas since July 23, fueling concerns over wastewater injection practices.
Benchmark U.S. crude oil for September delivery ...
Benchmark U.S. crude oil for September delivery fell $1.35to $75.81 per barrel Monday. Brent crude for September delivery fell $1.35to $79.78 per barrel.
Wholesale gasoline for August delivery fell 4 centsto $2.42 a gallon. August heating oil fell 4 cents to $2.38 a gallon. August natural gas fell 10 cents to $1.91 per 1,000 cubic feet.
