Enbridge Income Fund Receives Canadian Oil Sands System and Renewables Enbridge (ticker: ENB) followed through on its April 2015 proposal to transfer assets to its Income Fund, swapping ownership of its Canadian Mainline, Regional Oil Sands System and Canadian renewable assets for a closing value of $30.4 billion. The value includes $18.7 billion of units in the fund structure and
Views include oil and gas wells, pipelines, coal mines, power plants-oil, coal, nuclear, gas, transport terminals, market hubs, wind and solar capacity, administrative boundaries The Energy Information Administration (EIA) has published a mapping tool that lets energy companies and analysts to look at the U.S. energy infrastructure through different lenses. These map layers can be presented over several base layers
Next Up: IPO Hess Corporation (ticker: HES) has announced plans for a 50/50 joint venture (JV) consisting of its midstream assets in the Bakken Shale. The company will receive cash consideration of $2.675 billion from its partner, Global Infrastructure Partners (GIP), as part of the agreement. The full value of the deal is $5.35 billion. GIP is a private equity
Damaged pipeline calls for alternative oil transport solution An emergency request made by ExxonMobil (ticker: XOM) to use tanker trucks to haul crude oil following the rupture of an oil pipe carrying its crude from offshore has been denied by officials in California. Santa Barbara County’s Planning and Development director rejected Exxon’s emergency permit application, saying it did not meet
Increases Net Utica Position to more than 230,000 Acres Gulfport Energy (ticker: GPOR) made its second sizable acquisition in three months on June 9, 2015, landing 45,163 gross acres (33,426 net) in the Utica Shale from American Energy – Utica, LLC (AEU), a subsidiary of privately held American Energy Partners. The current purchase price is $387.2 million, but a deal
As West Coast production falls, more crude oil is being shipped by rail Crude oil shipped to West Coast refiners has increased by a factor of 8 since 2012, according to the Energy Information Administration (EIA). In the first quarter of 2015, crude by rail shipments to the West Coast Region (PADD 5) averaged 191 MBOPD, more than 8 times
The Revolution Project will give ETP an additional 440 million cubic feet per day of capacity Earlier today, Energy Transfer Partners (ticker: ETP) released additional information on its Revolution project, which will increase the company’s operations in the Marcellus and Upper Devonian areas of Western Pennsylvania. The company expects the overall cost of the project to be approximately $1.5 billion,
Cushing storage goes above 71,409,000 barrels of oil The Energy Information Administration (EIA) released its biannual Working and Net Available Shell Storage Capacity Report, providing a picture of refinery and storage utilization throughout the United States. The report covers utilization in every Petroleum Administration Defense District (PADD) across the U.S., but the Midwest (PADD2), which includes the storage facilities at
Plains All American Pipeline (ticker: PAA) and its general partner, Plains GP Holdings (ticker: PAGP), held their 2015 Analyst Day in New York on June 4. The consortium began its presentation by reflecting on a section from its 2014 Analyst Day, titled “Planning for Continued Industry Growth; Preparing for Periodic Disruptions; Positioned to Deliver Solid Results in Either Environment.” Disruptions
Maintains 10% CAGR Distribution Through 2020 MarkWest Energy Partners (ticker: MWE), one of the largest Master Limited Partnerships (MLP) in the oil and gas industry, outlined its near-term plans in its 2015 Analyst Day on June 3. The Denver-based midstream provider is the second largest gas processor in the United States and has nearly 4,700 miles of pipeline in its
Secure Data Coverage across 55,000 Square Miles of U.S. Oilfields Two U.S. technology companies recently joined forces to launch a large-scale data/IoT communications network that provides secure data transmission in more than 55,000 square miles of U.S. oil and gas fields in several important shale plays. San Diego’s On-Ramp Wireless, a provider of long-range connectivity for the Internet of Things (IoT), and WellAware,
Key Energy Services (ticker: KEG) announced the reorganization of its credit facility on June 2, 2015, replacing its previous $400 million senior revolving facility that was set to expire in 2016. Under the terms of the new facility, Key closed on a $100 million asset-based revolver (ABL) due February 2020 and a $315 million term loan facility due June 2020.
