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A merger wave washed over the oil patch last year. Oil giant Chevron (NYSE: CVX) kicked things off in July by agreeing to acquire Noble Energy for $13 billion. That spurred a flurry of similar deals as oil producers paired up to drive down costs. The oil industry ‘s current M&A wave has now splashed into the midstream sector . Chevron again opened the floodgates by offering to acquire Noble’s former MLP Noble Midstream Partners (NYSE: NBLX) for an additional $1.13 billion earlier this month. Brookfield Infrastructure (NYSE: BIP) (NYSE: BIPC) then followed with an offer to acquire Inter Pipeline (TSX: IPL), while Energy Transfer (NYSE: ET) sealed a deal to merge with Enable Midstream (NYSE: ENBL) . More activity seems likely as the pipeline industry seeks to reduce costs as the global economy shifts to cleaner fuel sources. Image source: Getty Images. A closer look at the recent flurry of activity Each recently proposed transaction has a slightly different spin and strategic rationale. For example, Chevron made a no-premium, all-equity offer to acquire the rest of Noble Midstream. A deal would give Chevron full control of Noble Midstream’s assets, increasing its flexibility while reducing costs. While they haven’t […]
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