December 2021, Vol. 248, No. 12


Companies in the News December 2021

Texas Pipeline Operator Altus to Combine with BCP Raptor  

Altus Midstream will merge with BCP Raptor, a holding company for  pipeline  assets in the Permian Basin, with the combined entity to be valued at $9 billion inclusive of debt.  

The transaction allows BCP to go public and gives control of Altus to BCP’s backers, private equity firm Blackstone Inc. and infrastructure-focused investor I Squared Capital, according to Reuters.  

Altus will increase scale in the Permian, as the combined entity becomes the biggest integrated midstream operator in the Delaware part of the formation.  

As a result of the deal, Blackstone and I Squared will own 75% of the combination. Apache Corporation will see its holding decrease from 79% to 20%. The remaining 5% will belong to Altus’ other investors.  

Apache Corp, the U.S. arm of energy producer APA Corp, has agreed to the proposal, Altus said.  

BCP currently owns EagleClaw Midstream, Caprock Midstream and Pinnacle Midstream, as well as part of the Permian Highway  Pipeline.  

SPL, Inc., a  specialist  in testing, inspection and certification (TIC) for the energy industry and other markets, announced its acquisition of  AFS, formerly known as  Assured Flow Solutions.  By combining these businesses, SPL  said, the company will  provide customers with expanded laboratory testing, software and tech-enabled consulting to help them optimize product flow.  

“With locations in Houston, Denver, Europe and Asia Pacific, the AFS transaction will expand SPL’s footprint in key high-growth markets and accelerate our ongoing international expansion,”  said  CEO  Jeff  Hibler  of SPL.  “The acquisition also adds new application capabilities in the areas of flow assurance, asset integrity and ESG to SPL’s extensive TIC digital platform.” 

Tommy  Kuczynski, CEO of AFS, and  Tony Spratt, co-founder, will both remain in key positions  at  the combined company. 

Line Star  Integrity Services  announced it has  consolidated  several subsidiaries  acquired during the past three years  into a single brand,  Eveline.        

Between 2018 and 2021,  Line Star  acquired compliance and technical services  firms  The Compliance Group,  NuGen Automation,  Remote Operations Center,  PIMS of London  and  Energy Project Solutions, which have  maintained their original brands while collaborating  under the  Line Star  umbrella to deliver compliance, integrity management, SCADA/IT and control room services.        

Emerson Electric  announced that  it would merge its software units with smaller rival  Aspen Technology  in a deal  valued at  about $11 billion, boosting its industrial automation business that caters to sectors ranging from utility and mining to chemicals and automotive.   

The combined industrial software company will comprise Emerson’s grid modernization technology and geological simulation software, as well as Sentech’s  software offerings to mining, manufacturing and pharmaceutical industries.  

Clariant’s  Oil and Mining Services business has opened its new Eagle Ford Technology, Sales & Operations Center near San Antonio, consolidating three locations into one major hub. 

Clariant said the  combined facility will enable Clariant to respond with maximum agility to analyze production issues, chemical solution development and implementation in the field, with simplified logistics, reduced lead times and fewer bottlenecks, the company said.      

The new site has more than 5,000 square  feet of office and networking space, a 3,500-square-foot laboratory and an 80,000-square-foot production area.  

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