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360 Articles

Equitrans, EQM Appoint President

Equitrans, EQM Appoint President

By Tyler Losier, Energy Reporter, Oil & Gas 360 Diana M. Charletta appointed president of both entities, retains position as COO and board member Equitrans Midstream Corporation (stock ticker: ETRN) and its general partner – EQM Midstream (stock ticker: EQM) – have appointed Diana M. Charletta as president of both entities. In addition to her new appointment, Charletta will retain[Read More…]

TransCanada acquired several natural gas assets in the United States, including the Hickory Bend Gathering System and Cryogenic Processing Plant, in Ohio, as part of the Columbia Pipeline Group acquisition in 2016.

TC Energy Unloads Columbia Midstream for $1.3 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 UGI subsidiary to acquire Columbia Midstream from TC Energy subsidiary UGI Corporation (stock ticker: UGI) subsidiary UGI Energy Services has signed a definitive agreement to acquire the equity interests of Columbia Midstream Group (CMG) from a subsidiary of TC Energy Corporation (stock ticker: TRP) for approximately $1.275 billion. The assets owned[Read More…]

Source: Plains All American Pipeline, L.P.

Anticipating More Wyoming Crude: Saddlehorn Pipeline Capacity to Expand by 50%

By Tyler Losier, Energy Reporter, Oil & Gas 360 New Ft. Laramie origin point announced, open season launched Saddlehorn Pipeline Company, owned in part and operated by Magellan Midstream (stock ticker: MMP), is planning to expand its Saddlehorn pipeline to a new origin point in Fort Laramie, Wyoming, which would subsequently increase the system’s capacity by up to 100,000 BOPD.[Read More…]

Source: Summit Midstream Partners

Summit Midstream Partners Makes FID, Forms JV

By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream to proceed with Double E pipeline project Summit Midstream Partners (stock ticker: SMLP) has made a final investment decision to proceed with its Double E pipeline project, after having secured sufficient commitments pursuant to binding precedent agreements for long-term, firm transportation service. The company also executed a definitive joint[Read More…]

Oil & Gas 360 Energy News

Antero Midstream to Launch $600 Million Offering

By Tyler Losier, Energy Reporter, Oil & Gas 360 Antero intends to offer $600 million in senior unsecured notes Antero Midstream Partners LP, a wholly owned subsidiary of Antero Midstream, intends to offer $600 million in aggregate principal amount of senior unsecured notes due 2028 in a private placement to eligible purchasers. The proceeds of this offering are expected to[Read More…]

Source: Archrock

Archrock Makes $410 Million Acquisition

By Tyler Losier, Energy Reporter, Oil & Gas 360 Archrock to purchase ~430,000 horsepower of compression from Elite Compression Services Houston-based Archrock, Inc. (stock ticker: AROC) has entered into a definitive agreement with Elite Compression Services, a JDH Capital-backed company, to purchase substantially all of Elite’s assets for $410 million, including approximately 430,000 horsepower of compression. Archrock will pay Elite[Read More…]

Source: Meritage Midstream

Midstream Company Snags Upstream CFO, Names New COO

By Tyler Losier, Energy Reporter, Oil & Gas 360 Denver-based company taps new COO, CFO Meritage Midstream Services, a private energy infrastructure company backed by equity from Riverstone Holdings LLC, has appointed two new executives to the company’s leadership team. Matthew DeNezza, former chief financial officer at Eclipse Resources Corporation, will take over as Meritage’s new CFO. T. Jeffrey Layne,[Read More…]

Source: Converge Midstream

Converge Midstream Beats Exxon, Magellan

By Tyler Losier, Energy Reporter, Oil & Gas 360 Riverstone Credit-backed company adds 6.5 million barrels of crude storage capacity Converge Midstream LLC, a crude oil storage and transportation company backed by Riverstone Credit Partners, has completed the acquisition of assets being sold off by Fairway Energy Partners, LLC as part of its chapter 11 restructuring. Fairway, after filing a[Read More…]

Source: Stakeholder Midstream

EnCap-Backed Company Names Officers

By Tyler Losier, Energy Reporter, Oil & Gas 360 San Antonio-based Stakeholder Midstream, backed by EnCap Flatrock Midstream, has promoted two of its employees to officer positions. Josh Roberts, the former vice president of engineering, will now be serving as the chief operating officer for Stakeholder. Source: Stakeholder Midstream Roberts joined the company in July of 2015, beginning his tenure[Read More…]

Williams Trades 35% Stake in Pipelines for $1.33 Billion

Williams Trades 35% Stake in Pipelines for $1.33 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 New $3.8 Billion JV in the Marcellus/Utica Williams (stock ticker: WMB), an energy infrastructure company headquartered in Oklahoma, completed the formation of a $3.8 billion joint venture today with the Canada Pension Plan Investment Board (CPPIB). As part of the deal, which was first announced back in March, CPPIB trades approximately[Read More…]

Colorado Governor’s Withdrawal of Support for Jordan Cove Riles U.S. Congressman

Colorado Governor’s Withdrawal of Support for Jordan Cove Riles U.S. Congressman

Polis’s snub of Jordan Cove dovetails with his new 100% renewable energy program By Bevo Beaven, Editor, Oil & Gas 360 U.S. Congressman Scott Tipton, representing Colorado’s Western Slope — the Piceance Basin. Photo: U.S. House of Representatives U.S. Congressman Scott Tipton (R) took a shot at Colorado Governor Polis for reversing the previous Colorado governor’s official state support for[Read More…]

June 14, 2019 - 5:35 am 360 Articles, Closing Bell Story, Downstream, LNG, Midstream, Politics
Source: Brazos Midstream

New NatGas Gathering, Processing System Heading to the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360 Brazos Midstream and Shell E&P sign exclusive deal Brazos Midstream, a major Delaware Basin midstream player, has signed a 15-year gathering and processing agreement with Shell Exploration and Production. The deal will allow Brazos to construct a new natural gas gathering system in the region spanning across Loving, Ward, and Winkler[Read More…]

More Takeaway on the Way: $4.1 Billion in Pipelines will Deliver Permian, Bakken Oil Production to the Gulf

More Takeaway on the Way: $4.1 Billion in Pipelines will Deliver Permian, Bakken Oil Production to the Gulf

Liberty Pipeline LLC On Monday, Phillips 66 (stock ticker: PSX) and Bridger Pipeline LLC announced the formation of a 50/50 joint venture, Liberty Pipeline LLC, in order to build a 24-inch crude oil pipeline running from the Rocky Mountain and Bakken production areas to Cushing, Oklahoma. Liberty is underpinned with long-term shipper volume commitments, and initial service on the pipeline[Read More…]

June 11, 2019 - 3:32 pm 360 Articles, Closing Bell Story, Crude Oil News, Midstream
50 Bcf of Gas Infrastructure Assets Sell for $215 Million Cash

50 Bcf of Gas Infrastructure Assets Sell for $215 Million Cash

By Bevo Beaven, Editor, Oil & Gas 360 Martin Midstream Partners L.P. (stock ticker: MMLP) has entered into a definitive agreement with Hartree Cardinal Gas, LLC, a subsidiary of Hartree Bulk Storage LLC, to sell its membership interests in Arcadia Gas Storage, LLC, Cadeville Gas Storage LLC, Monroe Gas Storage, LLC and Perryville Gas Storage LLC for $215.0 million in[Read More…]

Source: WhiteWater Midstream

Whistler Pipeline Project Reaches FID

Multifaceted partnership will proceed with design and construction A partnership involving several midstream companies and private equity firms has reached a final investment decision for the Whistler pipeline project, expected to run 475 miles and transport approximately 2 billion cubic feet of natural gas per day (Bcf/d). The 42-inch pipeline will run from Waha, Texas to the Agua Dulce region[Read More…]

Source: Sentinel Midstream

Another Deepwater Port to Export Crude

By Tyler Losier, Energy Reporter, Oil & Gas 360 Port will be located off the coast of Freeport, Texas Sentinel Midstream, LLC, through its subsidiary Texas GulfLink, LLC, submitted a license application on May 30 through the U.S. Maritime Administration (MARAD) for a deepwater crude export facility to be located off the coast of Freeport, Texas. The project will also[Read More…]

Source: TC Energy

TC Energy Secures $1.15 Billion from Sale of 56 Mile Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360   85% interest expected to gross $1.15 billion TC Energy Corporation (stock ticker: TRP) has entered into an agreement to sell an 85% equity interest in the Northern Courier Pipeline to Edmonton-based Alberta Investment Management Corporation (AIMCo), an investment manager responsible for the investments of 31 pension, endowment and government funds[Read More…]

May 28, 2019 - 1:06 pm 360 Articles, Canada, Closing Bell Story, Finance, Midstream
Source: Riviera Resources

Riviera Resources Sells Michigan Properties

By Tyler Losier, Energy Reporter, Oil & Gas 360   Undisclosed buyer acquires land for $44.5 million Riviera Resources (stock ticker: RVRA) signed an agreement Thursday to sell its interests located in Michigan for $44.5 million, netting approximately $41 million of proceeds in the process. The transaction is expected to close in Q2 of 2019, subject to due diligence and[Read More…]

May 24, 2019 - 4:03 pm 360 Articles, Closing Bell Story, E&P, Midstream
Source: Magellan Midstream

Magellan Midstream Names New Board Member

By Tyler Losier, Energy Reporter, Oil & Gas 360   Chansoo Joung joins Tulsa, Oklahoma Company  Magellan Midstream Partners, L.P. announced this morning that it has elected Chansoo Joung as an independent board member, effectively immediately. Previously, Joung worked in the energy sector of the finance industry as a partner and senior advisor for Warburg Pincus LLC from 2005 to[Read More…]

How to Turn $125 Million into a Half Billion Dollars

How to Turn $125 Million into a Half Billion Dollars

Follow WPX’s lead: develop, sell pipeline infrastructure in Texas A subsidiary of WPX Energy (stock ticker: WPX) and its joint venture partner in the Oryx II pipeline have completed the sale of a pipeline project. WPX received net proceeds of approximately $350 million for its 25% equity interest in Oryx II after adjusting for debt financing related to Oryx II.[Read More…]

Source: Goodnight Midstream

Largest Energy IPO of 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360   Rattler Midstream raises $665 in gross proceeds Diamondback Energy, Inc. (stock ticker: FANG) subsidiary Rattler Midstream LP (stock ticker: RTLR) priced its upsized initial public offering this Wednesday, offering up 38,000,000 shares to the public at a price of $17.50 per common unit. This represents a 4,666,667 unit increase from[Read More…]

May 23, 2019 - 2:11 pm 360 Articles, Closing Bell Story, Finance, Midstream
Source: Cureton Midstream

Cureton Midstream Forms Commercial Agreement with Six DJ Basin Producers

By Tyler Losier, Energy Reporter, Oil & Gas 360   Increased Gas Processing Capabilities in Weld County Cureton Midstream, LLC, a Denver-based company founded in 2016, signed a commercial agreement this Tuesday with six unnamed E&P’s in the DJ Basin. Over the past year and a half, Cureton has been installing approximately 115 miles of high- and low-pressure gas gathering[Read More…]

Delaware Basin Takeaway Grows: Howard Energy Partners Adds Crude, Gas Gathering Capacity

Delaware Basin Takeaway Grows: Howard Energy Partners Adds Crude, Gas Gathering Capacity

Additional acreage dedication will drive further growth By Richard Rostad, analyst, Oil & Gas 360 Additional gas takeaway has arrived for the Delaware Basin, helping to alleviate the worst takeaway crunch in U.S. shale. Howard Energy Partners announced it has completed several projects in the Delaware, bringing significant volumes of processing and takeaway online. Howard has extensive operations in the[Read More…]

$890 Million for Water: Acquisition Creates Largest Water Transportation and Disposal Company in the Delaware Basin

$890 Million for Water: Acquisition Creates Largest Water Transportation and Disposal Company in the Delaware Basin

Tulsa’s NGL Energy Partners LP (ticker: NGL) will combine all of the assets of Mesquite Disposals Unlimited, LLC with NGL’s Water Solutions business for approximately $890 million on a cash-free, debt-free basis. The assets consist of a fully interconnected produced water pipeline transportation and disposal system in Eddy and Lea Counties, New Mexico, and Loving County, Texas.  Pro forma for the Mesquite assets, NGL’s permitted disposal capacity will nearly double[Read More…]

Denver Energy Company Named Top Workplace Fifth Consecutive Year

Denver Energy Company Named Top Workplace Fifth Consecutive Year

Tallgrass Energy, LP (stock ticker: TGE, $TGE) was named one of The Denver Post’s Top Workplaces. The list is compiled based on a third-party survey that measures aspects of workplace culture through the eyes of employees. It’s the fifth consecutive year for Tallgrass to be named. Tallgrass is an energy midstream infrastructure company operating in 11 states that provides energy[Read More…]

Without Pipeline Capacity to Ports Canada’s Energy Sector Lost C$20.6 Billion in Foregone Revenues in 2018

Without Pipeline Capacity to Ports Canada’s Energy Sector Lost C$20.6 Billion in Foregone Revenues in 2018

Forced to sell to U.S. at a $26.50 per barrel discount to WTI Lack of pipeline capacity is driving down the price of Canadian oil, costing the country’s energy sector C$20.6 billion in lost revenues last year, Canadian public policy think-tank Fraser Institute calculates in a new study. “Without sufficient pipelines to coastal ports, Canadian oil producers must sell their[Read More…]

Pipelines, Processing, Shipping Pay: Enterprise Products Partners Sets 11 Records

Pipelines, Processing, Shipping Pay: Enterprise Products Partners Sets 11 Records

More capacity coming: another $3.5 billion of projects now under construction will go into service in 2019 Houston’s Enterprise Products Partners L.P. (stock ticker: EPD, $EPD) reported record net income attributable to limited partners of $1.3 billion, or $0.57 per unit on a fully diluted basis for Q1 2019. 2018’s Q1 net income came in at $901 million, or $0.41[Read More…]

Source: Utica East Ohio

Ohio Snags $74 Billion from Shale Investment Since 2011

Ohio home to $4.6 billion in shale industry investment in the first half of 2018 – new CSU study Total investment in Ohio’s resource rich shale energy sector has reached $74 billion since tracking began in 2011, according to a Cleveland State University study prepared for JobsOhio. The study from CSU’s Energy Policy Center at the Maxine Goodman Levin College[Read More…]

Concho, Frontier Midstream JV Targets a New Midland Basin Crude Oil Transportation Project

Concho, Frontier Midstream JV Targets a New Midland Basin Crude Oil Transportation Project

Beta Crude Connector is targeting initial crude flows in mid-2019 – backed by Energy Spectrum Capital Concho Resources Inc. (NYSE: CXO)  and Frontier Midstream Solutions IV, LLC will create Beta Crude Connector, LLC, an entity that will build and provide crude oil gathering, transportation in the Northern Midland Basin. Concho and Frontier will each own a 50% equity interest in[Read More…]

April 15, 2019 - 12:18 pm 360 Articles, Closing Bell Story, E&P, Midstream
Goodnight-Midstream-TPG-Capital-Acquires-Goodnight-Midstream-from-Tailwater-Capital-and-Private-Investors-Oil-Gas-360

$930-Million Water Acquisition: TPG Capital Acquires Goodnight Midstream from Tailwater Capital, Private Investors

Transaction provides Goodnight Midstream access to $300 million incremental capital to accelerate growth TPG Capital, the private equity platform of global alternative asset firm TPG, has signed a definitive agreement to acquire a majority stake in Goodnight Midstream, a leading midstream produced water infrastructure company, from Tailwater Capital for approximately $930 million. TPG is acquiring the company from Tailwater Capital[Read More…]