Brazilian energy acquisitions, on a steady decline after a record $57 billion deals in 2010, are showing signs of a revival, led by Chinese and Malaysian state- owned buyers seeking lower valuations for offshore oil fields.
Inergy Midstream LP, the pipeline partnership that began trading publicly 18 months ago, agreed to buy Crestwood Midstream Partners LP for $1.61 billion in stock and cash, adding natural gas processing capabilities as it seeks to capitalize on rising U.S. output of the fuel.
Cobalt International Energy Inc., the oil explorer that doubled in value since going public in 2009, is turning into a takeover target for energy companies attracted to its oil finds from Africa to the Gulf of Mexico.
Peabody Energy Corp., the largest U.S. coal company by sales, jumped the most in six months after reporting a narrower loss than analysts expected by reducing costs in its Australia segment as U.S. demand climbs.
CenterPoint Energy Inc. agreed to form a $10.7 billion master-limited partnership with a jointly owned subsidiary of OGE Energy Corp. and ArcLight Capital Partners LLC, paving the way for other utilities to follow suit.