MLP News

Pullback in U.S. Frac Sand Use Pressures Producers

From Reuters

U.S. shale oil companies are pulling back on the amount of sand they use to hydraulically fracture new wells, responding to rising prices of the material that are driving up costs.

Investors worry a slowdown in sand use, …

August 16, 2017 - 4:51 pm Closing Bell Story‎, MLP News

OPEC Oil-Glut Fight Could Last Years

From Bloomberg

When OPEC and Russia first embarked on their strategy to clear a global oil glut, it was expected to succeed within six months. It now looks like the battle could last for years.

The Organization of Petroleum Exporting …

August 16, 2017 - 4:50 pm Closing Bell Story‎, Crude Oil News, MLP News
SCOOP/STACK Comes to the Effective Rig Count

SCOOP/STACK Comes to the Effective Rig Count

Anadarko EERC is 404, 2.5 times higher than reported rig count

EnerCom has added the Anadarko Basin to the Effective Rig Count, bringing in the second most active basin in the U.S. With the addition of the Anadarko Basin, the …

Andeavor Unit to Buy Western Refining Logistics for $1.5 Billion

From Reuters

U.S. pipeline operator Andeavor Logistics LP said on Monday it would buy rival Western Refining Logistics LP for $1.5 billion as it seeks to expand into the Permian Basin in Texas and New Mexico.

Western Refining unitholders will …

August 14, 2017 - 11:46 am Energy News, MLP News

American Midstream Acquires Panther Asset Management

American Midstream Partners, LP (ticker: AMID) announced today the acquisition of 100% of the assets in Panther Asset Management, LLC for a total consideration of approximately $52 million. The consideration consisted of approximately $39 million cash from borrowings under the …

August 14, 2017 - 11:43 am Energy News, MLP News

Andeavor Reports $40 Million Profit in First Earnings Report under New Name

From the San Antonio Business Journal

Days after San Antonio-based refining company formerly known as Tesoro changed its name to Andeavor, the recently merged company reported a 20 percent drop in profit from the first to the second quarter.

The …

August 14, 2017 - 11:40 am Energy News, MLP News
Source: WPX

U.S. Rig Count Falls for Second Week

Five rigs shut down

Activity in the oilfield may be softening a bit.

Drilling activity in the U.S. fell for the second week in a row, according to Baker Hughes’ Weekly Rig Count. There are now a total of 949 …

$21.5 Billion in Defaults: E&P Bankruptcies Tapering Off, Service Companies Still Feeling the Pressure

$21.5 Billion in Defaults: E&P Bankruptcies Tapering Off, Service Companies Still Feeling the Pressure

Defaults represent a combined $21.5 billion in debt

Energy attorneys Haynes and Boone have released the firm’s updated list of oil and gas bankruptcies, detailing how the continuing downcycle has affected companies.

This list has tracked all oil and …

Crestwood Announces Shell Midstream Partners Exercises Buy-In Option in Delaware Basin Nautilus Gas Gathering System

Crestwood Equity Partners LP (CEQP) (“Crestwood” or “CEQP”) announced that Shell Midstream Partners, L.P. (SHLX)(“Shell Midstream”), a master limited partnership formed by Royal Dutch Shell plc, exercised its option to purchase a 50% equity interest in the Nautilus gas gathering …

August 7, 2017 - 11:50 am Energy News, MLP News

Venezuelan Oil Supply to Phillips 66 Falls Amid Quality Issues

From Reuters

Venezuela’s supply of heavy crude to U.S. independent refiner Phillips 66 has dropped by more than two-thirds this year in part due to quality problems, and the company has cancelled at least one cargo in recent months, according …

August 7, 2017 - 11:48 am Energy News, MLP News

Pipeline Vet Named EQT Midstream President

From the Pittsburgh Business Journal

EQT Corp. has named an oil and gas industry veteran and former CEO of Gulf Oil LP to lead its midstream division.

Jeremiah J. Ashcroft III, 45, will become senior vice president of EQT and …

August 7, 2017 - 11:44 am Energy News, MLP News

Genesis Energy to buy Tronox’s Alkali Chemicals Business

From the Houston Business Journal

Genesis Energy LP (NYSE: GEL), a Houston-based midstream master limited partnership, will buy Connecticut-based Tronox Ltd.’s (NYSE: TROX) alkali chemicals business for $1.325 billion in cash, the companies announced Aug. 2.

The deal is expected …

August 7, 2017 - 11:29 am Energy News, MLP News
Tropical Storm Drives Largest Offshore Rig Decrease in a Year

Tropical Storm Drives Largest Offshore Rig Decrease in a Year

Tropical storm Emily forces Louisiana activity down

U.S. drilling activity decreased this week, erasing half of the gains from last week, according to Baker Hughes’ Rig Count. A total of four rigs came offline in the U.S. this week, bringing …

Shipping Energy: What’s Safe, What’s Not?

Shipping Energy: What’s Safe, What’s Not?

Shipping choke points could be security threat

The EIA estimates that approximately 61% of the total world petroleum supply—or 58.9 million BOPD—travelled in maritime tankers. The oil in these tankers represents nearly 28% of the world’s shipping in weight alone.…

WTI Nears $50 as U.S. Rig Count Resumes Growth

WTI Nears $50 as U.S. Rig Count Resumes Growth

Seven land rigs, one offshore are activated

Oil rose even as U.S. drilling activity returned to growth, according to the most recent edition of Baker Hughes’ weekly rig count.

West Texas Intermediate recorded its strongest weekly gain of the year …

Tailwater Capital Commits $150 Million to Valiant Midstream

Tailwater Capital Commits $150 Million to Valiant Midstream

Valiant Midstream is Tailwater’s first commitment in its new midstream fund – Energy Fund III

Oklahoma’s Valiant Midstream has secured a $150 million commitment from Dallas-based Tailwater Capital, an energy-focused private equity firm.

Valiant Midstream provides solutions to midstream customers …

Shale Industry Leaders will Kick Off EnerCom’s The Oil & Gas Conference®

Shale Industry Leaders will Kick Off EnerCom’s The Oil & Gas Conference®

A slate of industry-leading shale producers and service companies are presenting at EnerCom’s 22nd annual The Oil & Gas Conference® on August 13-17, 2017, in Denver, Colo., at the Westin Denver Downtown.

Some of the oil and gas industry …

EnerCom Conference Update: Private Equity Panel to Give Perspective on Funding Energy Companies

EnerCom Conference Update: Private Equity Panel to Give Perspective on Funding Energy Companies

Kayne Anderson Capital Advisors, Tailwater Capital, and OFS Energy Fund will provide a private equity energy perspective at EnerCom’s The Oil & Gas Conference® 22

Kayne Anderson, Tailwater, and OFS are panelists at the upcoming EnerCom conference in Denver, Colorado—The …

American Midstream Partners Selling Propane Business, Redeploying Capital

American Midstream Partners Selling Propane Business, Redeploying Capital

In a $170 million cash transaction, American Midstream Partners (ticker: AMID)—which provides natural gas and oil gathering, processing, and transmission—has agreed to sell its propane business to SHV Energy. The sale includes American Midstream’s service locations, cylinder exchange program, and …

NuStar Energy Moves Forward with Two Cross-Border Pipeline Projects

From the San Antonio Business Journal

After years of waiting, San Antonio-based midstream company NuStar Energy now has the green light to move forward with two cross-border pipeline projects in South Texas.

The U.S. State Department issued three presidential permits …

July 24, 2017 - 12:30 pm Closing Bell Story‎, MLP News

Feds Release FEIS for Atlantic Coast Pipeline

From Triangle Business Journal

The feds have released their final environmental impact statement for the Atlantic Coast Pipeline, a 600-mile natural gas line planned to cut through the state by way of West Virginia and Virginia.

The Federal Energy Regulatory

July 24, 2017 - 11:37 am Closing Bell Story‎, Energy News, MLP News
U.S. Rig Count Down 2, Permian Climbs by 1

U.S. Rig Count Down 2, Permian Climbs by 1

Two offshore GOM rigs come online

U.S. drilling activity fell this week, according to Baker Hughes’ Weekly Rig Count. Overall, two rigs shut down in the United States in the week, bringing the total number of rigs active in the …

BP May IPO U.S. Pipeline Assets

From Reuters

BP Plc (BP.L) is looking at spinning off U.S. pipeline assets in the U.S. Gulf and Midwest in an initial public offering, the company said on Tuesday.

If successful, the deal would be a revival of …

July 18, 2017 - 6:55 pm Closing Bell Story‎, Energy News, MLP News
Effective Rig Count Breaks 2,000 for First Time in June

Effective Rig Count Breaks 2,000 for First Time in June

Permian EERC pushes to 1,135

EnerCom released its monthly EnerCom Effective Rig Count today.

The Effective Rig Count now reports an equivalent 2,015 rigs active in the U.S., up from 1954 last month. The Effective Rig Count adjusts reported rig …

Enterprise Products, Navigator Holdings Plan Ethylene Export Terminal

From the Houston Business Journal

Enterprise Products Partners LP (ticker: EPD) and Navigator Holdings Ltd. (ticker: NVGS) plan to create a 50-50 joint venture to develop an ethylene marine export terminal on the Houston Ship Channel.

The companies announced July …

July 17, 2017 - 12:54 pm Energy News, MLP News
U.S. Rig Count Unchanged, Canada adds 16

U.S. Rig Count Unchanged, Canada adds 16

Permian grows to 373 rigs

The U.S. rig count was unchanged this week, seemingly signaling a response to lowering oil prices, according to Baker Hughes’ Weekly Rig Count.

The total number of rigs active in the U.S. is still 952, …

Deeper OPEC Cuts Would Help Shale, Former Qatar Minister Warns

From Bloomberg

OPEC would hurt itself and help U.S. shale producers if it adopted deeper cuts, the former oil minister of Qatar warned.

“It’s not beneficial for OPEC to deepen their cuts because prices will go up and shale oil …

July 14, 2017 - 11:41 am Closing Bell Story‎, Crude Oil News, MLP News
Summit Midstream Jumps Into Permian With XTO

Summit Midstream Jumps Into Permian With XTO

System will process 60 MMcf/d, expandable to 600 MMcf/d

Summit Midstream Partners (ticker: SMLP) announced an agreement with XTO Energy on Friday to create a new natural gas system in the Permian.

The system will service Eddy and Lea counties …

Summit Midstream, XTO Strike Deal for Permian System

From the Houston Business Journal

The Woodlands-based Summit Midstream Partners LP (ticker: SMLP) and XTO Energy Inc., a subsidiary of Exxon Mobil Corp. (ticker: XOM), announced July 7 a deal for the creation of a new natural gas gathering and …

July 10, 2017 - 11:30 am Closing Bell Story‎, MLP News
As Big as Ghawar, Permian Oil and U.S. Shale Gas Could Potentially Fill Global Demand

As Big as Ghawar, Permian Oil and U.S. Shale Gas Could Potentially Fill Global Demand

Pioneer’s Scott Sheffield points to the Permian’s full potential, Cheniere CCO Anatol Feygin touts U.S. LNG export growth at the EIA 2017 Energy Conference

It’s been an interesting week or two for U.S. energy on the world stage. The new …