This is X bought Y, I’m Matt Croydon. It’s Monday January 26th. Today Energy Transfer Partners LP, traded as ETP, said it was going to buy Regency Energy Partners LP (that’s RGP) for $11b. They’re both oil and gas pipeline companies. ETP already controls RGP by owning its general partner and 22% of the publicly traded shares. So why buy? ETB is up, RGP is down, oil prices are down, and efficiency is the word of the day. So why is this interesting? I think it speaks to the trend of consolidation we’ve been seeing in the petroleum sector and 11 billion dollars is a pretty big deal. The combined partnership would be the second biggest master-limited partnership, a kind of structure that makes it easier to pass on earnings without tax penalties. Find out more at xboughty.com or follow us on Twitter, @xboughty.