MLP News

U.S. Oilpatch Drilling Productivity Multiple Climbs Above 3.0

U.S. Oilpatch Drilling Productivity Multiple Climbs Above 3.0

Effective Rig Count falls by 49 in May
By Bevo Beaven, Editor, Oil & Gas 360
Oil & Gas 360 has released the latest Effective Rig Count, a measure that evaluates the state of drilling activity in the U.S. shale

U.S. Rig Count Falls Again

U.S. Rig Count Falls Again

By Tyler Losier, Energy Reporter, Oil & Gas 360


Canadian numbers rise by 4

This week’s Baker Hughes rig count shows that U.S. numbers fell by six, bringing the total down to 969. Compared to this time last year, the …

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 …

Source: EnerCom Analytics, Baker Hughes

U.S. Rig Count Drops by Nine This Week

Canadian numbers rise by 18

This week’s Baker Hughes rig count shows that U.S. numbers fell by nine, bringing the total down to 975. Compared to this time last year, the decline is even steeper, with yearly numbers down 87 …

International Rig Count: Inclusion of Ukrainian Rigs Juices the Total

International Rig Count: Inclusion of Ukrainian Rigs Juices the Total

Baker Hughes (stock ticker: BHGE) released its monthly international rig count today, revealing an increase of 64 compared to April, bringing the total number of rigs to 1,126. The number of offshore rigs, however, fell 11 compared to last month, …

Source: Baker Hughes

U.S. Adds One Rig for a Total Rig Count of 984

By OAG 360 Staff

Baker Hughes has released its weekly rig count, and things stayed basically flat with a net addition of one offshore rig in the U.S. Gulf of Mexico.  Canada’s operating rig count grew by seven this week.

Rig Count Drops to 983

Rig Count Drops to 983

By Tyler Losier, Energy Reporter, Oil & Gas 360

 
U.S falls, Canada’s numbers rise
This week’s Baker Hughes rig count revealed falling rig numbers for the U.S., but a substantial increase in the Canadian rig count.

In the U.S.,

Sixth Week of Falling Rig Counts

Sixth Week of Falling Rig Counts

Vertical drilling rises from multi-decade low
Drilling activity in the U.S. fell once again, the 12th drop in the past 13 weeks according to Baker Hughes Weekly Rig Count.

A net one rig shut down in the week, leaving 987

Reliance Gathering to Explore a $500 Million Sale

Reliance Gathering to Explore a $500 Million Sale

From Bloomberg

Reliance Gathering LLC, which transports crude oil in the Permian Basin, is exploring a sale, according to people familiar with the matter.

Reliance is working with an adviser to run an auction that could value it at …

May 17, 2019 - 5:32 pm Closing Bell Story‎, Energy News, Midstream, MLP News, MLPs
Productivity Rebound Drives Higher Effective Rig Count

Productivity Rebound Drives Higher Effective Rig Count

ERC up 29 as strong productivity outweighs declining activity
By Richard Rostad, analyst, Oil & Gas 360

Oil & Gas 360 has released its latest Effective Rig Count, evaluating the state of drilling activity and reported production from the major

Vertical Drilling Hits Bottom

Vertical Drilling Hits Bottom

Only 45 vertical rigs remain online - lowest level in decades
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell once again this week, as activity dropped for the 11th time in the past week according to Baker

Kinder Morgan Canada To Remain Independent After Strategic Review

Kinder Morgan Canada To Remain Independent After Strategic Review

From Reuters

Pipeline company Kinder Morgan Canada Ltd said on Thursday it would continue as a stand-alone entity, following a strategic review that considered options including a sale.

The company said its decision was consistent with the recommendation of a …

Photo by Mike Goldwater"

Energy Transfer No Longer Pursuing Permian Gulf Coast Pipeline: CFO

From Reuters

Energy Transfer Partners LP will no longer pursue the Permian Gulf Coast (PGC) pipeline as it was initially announced, but will evaluate participating in other projects to transport crude from the largest U.S. oil field, company Chief Financial …

Enbridge Seeking At Least Eight-Year Oil Shipping Commitments on Canada Mainline, Worrying Small Producers

Enbridge Seeking At Least Eight-Year Oil Shipping Commitments on Canada Mainline, Worrying Small Producers

From Reuters

Canada’s Enbridge is asking oil shippers to sign at least eight-year contracts to move crude on its Mainline pipeline network, as it proposes to shift away from a monthly allocation system, people with knowledge of the matter told …

Canada Likely to Proceed With Trans Mountain Expansion

Canada Likely to Proceed With Trans Mountain Expansion

From Bloomberg

The Canadian government is likely to proceed with expansion of the Trans Mountain oil pipeline when it announces its decision next month, officials familiar with the matter say.

The government has made no secret about its interest in …

TransCanada Changes Name to TC Energy

TransCanada Changes Name to TC Energy

From Reuters

Pipeline company TransCanada Corp said on Friday it has changed its name to TC Energy, to reflect the expansion of its business beyond Canada to the United States and Mexico.

Calgary-based TC Energy has been struggling to make …

May 6, 2019 - 3:56 pm Closing Bell Story‎, Energy News, Midstream, MLP News, MLPs
Weekly Rig Count: Small Overall Change Conceals Extensive Reshuffle

Weekly Rig Count: Small Overall Change Conceals Extensive Reshuffle

Most states, basins see shifting activity
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell slightly this week, continuing an overall decline that has prevailed for most of 2019 according to Baker Hughes.

A net one rig came

Abu Dhabi National Oil Company (ADNOC) (PRNewsFoto/Abu Dhabi National Oil Company)

Abu Dhabi Weighs Multi-Billion Dollar Gas Pipeline Deal

From Bloomberg

Abu Dhabi National Oil Co. is seeking to raise billions of dollars from its natural-gas pipelines, months after the state-owned explorer got a $4 billion investment in its oil infrastructure assets, according to people familiar with the matter.…

EQM says ‘unlikely’ to complete Mountain Valley natgas pipe in 2019

EQM says ‘unlikely’ to complete Mountain Valley natgas pipe in 2019

From Reuters

EQM Midstream Partners LP said on Tuesday it was “unlikely” to complete the long-delayed $4.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia during 2019 due to ongoing legal and regulatory challenges.

EQM, however, said …

Rig Count Sinks Beneath a Milestone Marker

Rig Count Sinks Beneath a Milestone Marker

First time below 1,000 since March 2018

By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell sharply today continuing the overall downward trend according to Baker Hughes’ Weekly Rig Count.

A net 21 rigs shut down in the …

Pipe destined for TransCanada’s Keystone XL pipeline is stockpiled near Gascoyne, N.D. (CBC)

Canada Extends Deadline for Trans Mountain Pipeline Decision to June 18

From Reuters

Canada has extended the deadline for a decision on whether to push forward with the expansion of the Trans Mountain oil pipeline to June 18 from mid-May, the government said on Thursday.

The Trans Mountain expansion (TMX) project …

U.S. Drillers Tally First YOY Rig Count Decline Since 2016

U.S. Drillers Tally First YOY Rig Count Decline Since 2016

Total count down 10
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity fell this week in the U.S. continuing a general downward trend, according to Baker Hughes Rig Count.

A net ten rigs came offline in the week,

Kinder Morgan In Discussions to Build Third Permian Basin Gas Pipeline: CEO

Kinder Morgan In Discussions to Build Third Permian Basin Gas Pipeline: CEO

From Reuters

Kinder Morgan Inc has begun internal discussions about building a third natural gas pipeline in the Permian Basin as demand for gas takeaway capacity continues to surge, Chief Executive Officer Steven Kean told investors on Wednesday.

As natural …

April 18, 2019 - 3:48 pm Closing Bell Story‎, Midstream, MLP News, MLPs, Natural Gas News
Pipe destined for TransCanada’s Keystone XL pipeline is stockpiled near Gascoyne, N.D. (CBC)

Kenney Win Puts Maligned Trudeau Pipeline Law Under New Pressure

From Bloomberg

Alberta’s incoming premier is already fighting pipeline law changes that are in the offing.

Jason Kenney’s conservative party swept to power Tuesday in Canada’s oil heartland after a campaign in which he regularly took aim at Prime Minister …

April 18, 2019 - 3:21 pm Canada, Closing Bell Story‎, Energy News, Midstream, MLP News, MLPs
Who Beats? Who Misses? BAM: It’s Earnings Season (Again) – Here are the Q1 2019 Oil & Gas Company Estimates

Who Beats? Who Misses? BAM: It’s Earnings Season (Again) – Here are the Q1 2019 Oil & Gas Company Estimates

Seems like just yesterday it was Q4 reporting season. But time between quarterly earnings reports accelerates within the public company universe, and Q1 reporting season is here.

EnerCom, Inc. has compiled first quarter earnings per share, revenue, EBITDA and cash

Efficiency Stagnating in Key Shale Basins

Efficiency Stagnating in Key Shale Basins

EERC down for fourth straight month
By Richard Rostad, analyst, Oil & Gas 360

Oil & Gas 360 has released its latest Effective Rig Count, evaluating the state of drilling activity and reported production from the major shale basins.

The

New Mexico Drilling Boom Hits Multi-Decade Milestone

New Mexico Drilling Boom Hits Multi-Decade Milestone

New Mexico rig count exceeds Oklahoma’s for first time in at least 28 years
By Richard Rostad, analyst, Oil & Gas 360

Drilling activity decreased in the U.S. this week, according to the latest edition of Baker Hughes Weekly Rig

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U.S. FERC Approves EPIC Oil Pipeline Rates, Interim Service to Begin Mid-2019

From Reuters

U.S. energy regulators on Thursday approved the rate structure and terms of service for EPIC Crude Pipeline LP’s new 900,000 barrels per day (bpd) line from the Permian basin to Corpus Christi, Texas, subject to some conditions.

EPIC …

April 12, 2019 - 5:53 pm Closing Bell Story‎, Crude Oil News, Energy News, MLP News
Trump Said to Seek Limit on State Power Over Pipelines

Trump Said to Seek Limit on State Power Over Pipelines

From Bloomberg

Developers have been trying for six years to build a 124-mile natural gas pipeline from Pennsylvania to New York. Despite winning a federal approval in 2014, the project is still no closer to reality.

Enter President Donald Trump, …

TransCanada Explores Sale Of $1 Billion Appalachian Pipeline Unit

TransCanada Explores Sale Of $1 Billion Appalachian Pipeline Unit

From Reuters

Pipeline operator TransCanada Corp is exploring a potential sale of its Columbia Midstream unit in a deal that could value the business at about $1 billion, three sources aware of the matter said on Friday.

TransCanada, based in …

April 8, 2019 - 4:23 pm Closing Bell Story‎, Midstream, MLP News, Natural Gas News