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360 Articles

Tallgrass Energy, Kinder Morgan to Increase PRB, DJ Crude Oil Takeaway

Tallgrass Energy, Kinder Morgan to Increase PRB, DJ Crude Oil Takeaway

New venture will transport crude oil from the Powder River, DJ, Williston, Western Canada to Cushing System to take 800,000 barrels per day (bpd) of light crude oil and 150,000 bpd of heavy crude to Cushing, provide near term relief for Canadian shippers Tallgrass Energy, LP (stock ticker: TGE) and Kinder Morgan, Inc. (stock ticker: KMI) have an agreement in[Read More…]

January 22, 2019 - 4:17 pm 360 Articles, Canada, Closing Bell Story, Crude Oil News, Midstream
Keystone XL: Canada’s NEB has Approved Site Work on North Portion Near Hardisty

Keystone XL: Canada’s NEB has Approved Site Work on North Portion Near Hardisty

Canadian energy regulator the National Energy Board (NEB) has approved TransCanada’s Keystone Pipeline GP Ltd.’s request to begin winter clearing work on the North Spread of its Keystone XL Project. “Further pipeline construction would be subject to NEB approval of other condition compliance submissions,” according to a press release by the NEB which makes it clear this is a work[Read More…]

January 21, 2019 - 5:57 pm 360 Articles, Closing Bell Story, Midstream
EnerCom Dallas investment conference

Registration is Open for EnerCom Dallas

Institutional investors can meet with management teams, hear 2019 operational plans from the oil and gas industry in Dallas, Texas – Feb. 27-28, 2019 Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy sector may now register for the EnerCom Dallas investment conference, coming to The Tower Club Feb. 27-28 in downtown[Read More…]

Kinder Morgan General Counsel Curt Moffatt Passes Away

Kinder Morgan General Counsel Curt Moffatt Passes Away

Kinder Morgan Inc. (stock ticker: KMI) said that the company’s general counsel, James Curtis “Curt” Moffatt, passed away on December 28th. Moffatt suffered a cardiac arrest while spending the holidays with his family, according to a statement by Kinder Morgan. “Curt was a leading figure in the energy bar, and his contributions to the energy sector and to federal law[Read More…]

‘Robust Midstream Component’ of $735-Million Haynesville Deal with QEP was Draw: Aethon Co-President

‘Robust Midstream Component’ of $735-Million Haynesville Deal with QEP was Draw: Aethon Co-President

Aethon likes Haynesville’s proximity to Gulf markets, Henry Hub In mid-November, QEP Resources (stock ticker: QEP) announced that its subsidiaries, QEP Energy Company, QEP Marketing Company, and QEP Oil & Gas Company, had entered into a definitive agreement to sell its Haynesville/Cotton Valley oil and gas assets for $735 million. Those assets include natural gas and oil producing properties, undeveloped[Read More…]

Altus Midstream Begins Permian Takeaway Expansion

Altus Midstream Begins Permian Takeaway Expansion

Acquiring 15% of Kinder Morgan’s Waha-to-Corpus gas line Altus Midstream (ticker: ALTM) has begun to expand its takeaway ability by acquiring a stake in the Gulf Coast Express pipeline according to a statement today. Altus said it has exercised its option to acquire a 15% interest in Kinder Morgan (ticker: KMI)’s new Waha to Corpus Christi gas pipeline. The Gulf[Read More…]

December 19, 2018 - 5:45 pm 360 Articles, Closing Bell Story, Midstream, Natural Gas News
SemGroup Announces New Cushing-to-Houston Pipe, Open Season for Gladiator

SemGroup Announces New Cushing-to-Houston Pipe, Open Season for Gladiator

SemGroup (ticker: SEMG) and DCP Midstream (ticker: DCP) have announced open season for a new pipeline system called Gladiator. The new Gladiator pipeline would run from SemGroup’s Cushing, Oklahoma terminal to Gulf coast markets, terminating near Houston, bringing producers the ability to transport segregated, light batches of crude oil all the way to the Gulf coast region. Conversion of Southern[Read More…]

Photo by Mike Goldwater"

Anadarko Divests Midstream Assets for $4 Billion

Western Gas announces drop-down, simplification Western Gas Partners (ticker: WES) announced several moves today, expanding its holdings and simplifying its corporate structure. Western Gas Partners will acquire $4 billion in midstream assets from its parent Anadarko (ticker: APC), all the company’s remaining midstream assets. These assets include oil and water gathering pipelines in the Delaware, including associated treatment and disposal[Read More…]

Prop 112 is Not Going to Pass: DCP Midstream CEO van Kempen

Prop 112 is Not Going to Pass: DCP Midstream CEO van Kempen

Colorado ballot count tops 2 million at 2:33 p.m. on election day Graphic: Colo. Sec. of State DCP Midstream (ticker: DCP) is one of the one of the largest producers of natural gas liquids and one of the largest natural gas processing companies in the U.S. DCP has significant gathering and processing operations in the DJ Basin in Colorado. The[Read More…]

November 6, 2018 - 5:54 pm 360 Articles, Closing Bell Story, Midstream, Politics, Regulatory
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Major Midstream Producers Discuss Differentials, Industry Prospects

Several of the largest oil and gas midstream companies have reported Q3 earnings, giving a glimpse into the midstream side of the industry. The conference calls of Enbridge (ticker: ENB), TransCanada (ticker: TRP), Enterprise Products Partners (ticker: EPD) and Kinder Morgan (ticker: KMI), which represent over $410 billion in combined enterprise value, can give an overview of both the midstream[Read More…]

Enable Midstream Doubles Down on Crude with $440 Million Deal

Enable Midstream Doubles Down on Crude with $440 Million Deal

Velocity acquisition adds crude capacity in SCOOP/Merge Enable Midstream Partners (ticker: ENBL) significantly increased its crude business today with two moves to boost capacity. Enable will boost its presence in the SCOOP and Merge through the acquisition of privately-held Velocity Holdings, an integrated crude and condensate gathering and transportation company. Velocity owns about 150 miles of pipeline capable of flowing[Read More…]

Midstream Consolidation Continues With $6.1 Billion Deal

Midstream Consolidation Continues With $6.1 Billion Deal

Antero Midstream GP, Antero Midstream combining The wave of midstream consolidation continues as Antero is simplifying its corporate structure, the company announced today. Antero Midstream GP (ticker: AMGP) will acquire Antero Midstream Partners (ticker: AM) in a cash and stock transaction. The combined company will be named Antero Midstream Corporation and will be a taxable entity, trading with the ticker[Read More…]

Noble Energy says Leviathan, Tamar Pipeline on Track for 2019

Noble Energy says Leviathan, Tamar Pipeline on Track for 2019

Leviathan anticipated production is at least 350 MMcf/day (gross) Noble Energy (ticker: NBL) gave more updates today regarding its agreements with the Eastern Mediterranean Gas Company S.A.E, the owners of the EMG Pipeline, a 90-kilometer pipeline located mainly offshore of Israel. The agreements will support delivery of natural gas from offshore Israel into Egypt, specifically the offshore Leviathan and Tamar[Read More…]

September 27, 2018 - 2:32 pm 360 Articles, Closing Bell Story, E&P, International, Midstream, Offshore
NGL Energy Partners Adds Water Sources for Oil & Gas Operators in the Permian

NGL Energy Partners Adds Water Sources for Oil & Gas Operators in the Permian

Price for New Mexican water: $93 million NGL Energy Partners LP (ticker: NGL) has purchased another Permian Basin ranch, adding 9.6 million barrels of annual fresh water rights to its Permian Basin water portfolio. NGL said it bought the 36,000-acre Beckham Ranch, which sits atop the Carlsbad, Capitan, and Jal Water Basins located in southeastern Lea County. In July NGL bought the McCloy Ranch, located in Eddy and Lea Counties, New[Read More…]

September 13, 2018 - 1:46 pm 360 Articles, Closing Bell Story, Midstream, Oilfield Services
A Permian Basin FID: $2 Billion for 2 Billion Cubic Feet per Day

A Permian Basin FID: $2 Billion for 2 Billion Cubic Feet per Day

Kinder Morgan and EagleClaw announce FID for Permian Highway pipeline project Kinder Morgan (ticker: KMI) and privately held EagleClaw Midstream have announced a Final Investment Decision on the Permian Highway pipeline (PHP) today, as oil and gas producers and midstream companies continue to react to the massive production growth coming out of the Permian basin. The PHP will provide relief[Read More…]

September 6, 2018 - 5:47 pm 360 Articles, Closing Bell Story, E&P, Midstream, Popular 1
Permian Crude Soon to Move by Rail 

Permian Crude Soon to Move by Rail 

It’s no industry secret that crude oil has been bottled up in the Permian Basin in the past year or so by lack of takeaway, and with the increasing Permian production it’s been getting worse. There are pipelines under construction and others in planning, but a way to move more Permian oil to market is sorely needed now. One Houston company,[Read More…]

September 4, 2018 - 6:12 pm 360 Articles, Closing Bell Story, Crude Oil News, Midstream
Permian’s Pipeline Constraints Produced $1.4 Billion in Deferred Completions, but Midstream Construction is on a Tear: Westwood

Permian’s Pipeline Constraints Produced $1.4 Billion in Deferred Completions, but Midstream Construction is on a Tear: Westwood

Firm sees $6.7 billion CapEx going into Permian pipeline construction in 2018-2019 Research firm Westwood Global has quantified the result of takeaway constraints in the Permian Basin. Westwood calculates 345 completions are likely to be deferred by the end of 2019 due to pipeline takeaway capacity constraints, according to the firm’s latest US Drilling & Completion report. “Pipeline capacity is[Read More…]

Courtesy of Enbridge

Pipeline Giants to Join in $3.3 Billion Deal—Finally

Enbridge to acquire all public equity of Spectra Energy Partners; companies hope for Q4 close Their effort to combine has rumbled through the news for about the past two years. On Aug. 24, 2018, Enbridge Inc. (ticker: ENB) and Spectra Energy Partners, LP (ticker: SEP) announced that they had entered into a definitive agreement under which Enbridge will acquire all[Read More…]

Permian Power: Apache and Kayne Anderson Birth a $3.5-Billion Midstream Corporation

Permian Power: Apache and Kayne Anderson Birth a $3.5-Billion Midstream Corporation

New company Altus Midstream will provide midstream ops for Apache’s Alpine High Apache Corp (ticker: APA) and Kayne Anderson Acquisition Corp (ticker: KAAC) announced today they will combine midstream assets, forming a $3.5 billion pure-play Permian midstream player. The combined company, called Altus Midstream, will be publicly traded. Altus’ primary asset will be Apache’s Alpine High gathering and processing systems,[Read More…]

Energy Transfer on Trend: Consolidates MLP

Energy Transfer on Trend: Consolidates MLP

Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) announced that an agreement upon the merger of ETP with ETE in a unit-for-unit exchange. In connection with the transaction, ETE’s incentive distribution rights (IDRs) in ETP will be cancelled. ETP unitholders (other than ETE and its subsidiaries) will receive 1.28 common units of ETE for each[Read More…]

Williams: Out of Four Corners and into the DJ

Williams: Out of Four Corners and into the DJ

Williams (NYSE: WMB) has announced its midstream entry into Colorado’s DJ Basin and the exit of Williams Partners L.P. (NYSE: WPZ) from the Four Corners Area in New Mexico and Colorado. Into the DJ Williams and KKR & Co. (NYSE: KKR) have entered into an agreement to jointly purchase Discovery DJ Services from TPG Growth for $1.173 billion. Discovery is[Read More…]

EQT Corporation Streamlines Midstream Through Q2

EQT Corporation Streamlines Midstream Through Q2

EQT Corporation (NYSE: EQT) announced its Q2 earnings, which was highlighted by a massive jump in both net cash provided by operating activities and in adjusted operating cash flow. EQT also recapped major sales of assets made in Q2, along with plans for further stock buyback initiatives. Highlights: Increase of 116% in net cash provided by operating activities Increase of[Read More…]

Tailwater Capital Brings Capital Under Management to $2.7 Billion with Third Fund

Tailwater Capital Brings Capital Under Management to $2.7 Billion with Third Fund

Tailwater Capital closes its third energy fund for $1 billion Dallas-based private equity fund Tailwater Capital announced today that the firm closed its third energy-based fund, the Tailwater Energy Fund III LP, at its hard-cap of $900 million. An additional $100 million was raised as a co-investment for a platform company in the fund, bringing total commitment to $1.0 billion.[Read More…]

July 25, 2018 - 5:33 pm 360 Articles, Closing Bell Story, Midstream, Private Equity
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Europe’s $42 Billion Gas Project: One Step Forward, One Step Back

Shah Deniz 2 begins production, but last 5 miles of pipe could cause a screeching halt in Europe New supply is on the horizon for European gas markets, as BP (ticker: BP) recently announced the startup of stage 2 of the Shah Deniz project, one of the largest gas projects to start up this year. Huge scope of the project[Read More…]

ONEOK, EPIC Midstream to Bolster Permian Takeaway

ONEOK, EPIC Midstream to Bolster Permian Takeaway

ONEOK’s Contribution ONEOK (NYSE: OKE) has announced plans to expand its natural gas pipeline infrastructure in the Permian Basin and Oklahoma by 1.7 Bcf/d. The project will include: 150 MMcf/d of ONEOK’s WesTex Transmission system from the Permian to interstate pipeline points in the Texas panhandle and a possible expansion of up to 450 MMcf/d, dependent upon a follow up[Read More…]

EnLink to Build “Avenger” Crude Gathering System in the Northern Delaware

EnLink to Build “Avenger” Crude Gathering System in the Northern Delaware

EnLink Midstream Partners, LP (NYSE: ENLK) and EnLink Midstream, LLC (NYSE: ENLC) announced today that the partnership will construct a new crude oil gathering system in the Northern Delaware Basin called the Avenger Crude Oil Gathering System. The project is built around a 10-year contract with Devon Energy Corp. with main dedications coming from Devon’s Todd (Eddy and Lea Counties,[Read More…]

June 27, 2018 - 1:44 pm 360 Articles, Closing Bell Story, Midstream
Kinder Morgan, Blackstone, Apache Plan to Launch the Permian Highway

Kinder Morgan, Blackstone, Apache Plan to Launch the Permian Highway

New Permian Basin gas pipeline will carry 2 Bcf/d from Waha to Gulf; sponsors already considering upsizing to 48-inch due to early demand Permian gas producers may have relief on the horizon, as Kinder Morgan (ticker: KMI), Blackstone-backed EagleClaw Midstream, and Apache (ticker: APA) announced plans to develop a new pipeline from the basin yesterday. The Permian Highway Pipeline Project[Read More…]

Apache CEO Christmann: Coping with Bottlenecks and Pricing Differentials in the Permian

Apache CEO Christmann: Coping with Bottlenecks and Pricing Differentials in the Permian

We are starting to layer in projects … to move our various products to the markets: Christmann Pipeline bottlenecks have begun to plague producers in the U.S.’s top producing oil basin. For one thing the price they can get for a barrel of oil in West Texas is falling, compared to the price paid in Cushing, Oklahoma. Analysts believe the[Read More…]

Devon Sells EnLink Midstream For $3.1 Billion

Devon Sells EnLink Midstream For $3.1 Billion

Proceeds will go to share buybacks Devon Energy (ticker: DVN) continued its divestiture program today with the largest deal so far, valued at $3.125 billion. Devon will sell its interest in EnLink Midstream (ticker: ENLC) to privately held Global Infrastructure Partners (GIP). The sale significantly simplifies Devon’s holdings. EnLink is a major midstream company which handles much of Devon’s production.[Read More…]

Photo by Mike Goldwater"

Canada’s Proposed Bill C-69 Would Require Energy Project Environmental Assessments to Take Climate Change into Account

Bill gives cabinet and environment minister final power to approve or reject a project regardless of the findings of an environment assessment In February 2018, Catherine McKenna, the federal Minister of Environment and Climate Change, introduced Bill C-69. The bill may replace the Canadian Environmental Assessment Act of 2012 (CEAA 2012) with the Impact Assessment Act. McKenna claimed the new[Read More…]