Midstream News

Martin Midstream's revolving credit facility reaches $400M

Wed, 16 May 2012 16:48:00 GMT

Martin Midstream Partners LP announced May 10 that it has increased the size of its revolving credit facility to $400,000,000. This represents an increase of $25,000,000 as it has added ABN AMRO Capital USA LLC to its syndicate of lenders. The revolving credit facility is the partnership’s primary source of liquidity and matures April 15, 2016.

Keystone XL Pipeline depicted in info-graphic

Tue, 15 May 2012 20:28:00 GMT

Visual Capitalist recently published an info-graphic on the Keystone XL Pipeline. Although it’s pretty basic, it visually describes the situation very well.

Copano to expand processing capacity to meet Eagle Ford demand

Thu, 10 May 2012 16:42:00 GMT

In response to producer demand in the Eagle Ford shale play, Copano Energy, LLC announced today it will add 400,000 Mcf per day of cryogenic processing capacity at its Houston Central complex in Colorado County, Texas.

Ex-Im to finance $2.95B in US exports for Australia LNG project

Thu, 10 May 2012 15:52:00 GMT

The Export-Import Bank of the United States has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

Peregrine Midstream subsidiary fast tracks gas storage facility in Western Rockies

Wed, 09 May 2012 19:55:00 GMT

Ryckman Creek Resources, LLC, a wholly-owned subsidiary of Peregrine Midstream Partners LLC, has started gas injections at its new high-deliverability, multi-cycle (HDMC) Ryckman Creek Gas Storage Facility in southwestern Wyoming near the Opal Hub. Construction of the 35 Bcf facility started in late September 2011. First gas injections from Northwest Pipeline commenced on May 1, 2012, followed by gas injections from Overthrust Pipeline several days later.

Kinder Morgan to purchase 50% interest in natural gas JV

Thu, 26 Apr 2012 19:51:00 GMT

Kinder Morgan Energy Partners, LP, announced April 25 that it has signed a definitive agreement with an investment vehicle affiliated with Kohlberg Kravis Roberts & Co. LP, whereby KMP will purchase from KKR its 50 percent interest in the joint venture that owns the Altamont gathering, processing and treating assets (Uinta Basin in Utah) and the Camino Real Gathering System (Eagle Ford shale in Texas) for $300 million in KMP common units.

NiSource committed to infrastructure modernization

Fri, 20 Apr 2012 17:54:00 GMT

NiSource was recently recognized by US Secretary of Transportation Ray LaHood and Pittsburgh Mayor Luke Ravenstahl for its ongoing investment in pipeline infrastructure modernization and replacement.

NorTex Midstream launches new gas trading point

Tue, 17 Apr 2012 16:48:00 GMT

Houston-based NorTex Midstream Partners LLC, in cooperation with Atlanta’s Intercontinental Exchange (ICE), has launched a natural gas trading point in the Dallas-Fort Worth area.

Cardinal Midstream brings third plant online in Woodford shale

Tue, 03 Apr 2012 20:06:00 GMT

Cardinal Midstream, LLC has brought its third cryogenic processing plant online in the Arkoma Woodford shale.

NET Midstream expands Eagle Ford pipeline

Fri, 23 Mar 2012 15:17:00 GMT

ArcLight Capital Partners invests $100M in Magnum Hunter Resources’ midstream segment

Wed, 21 Mar 2012 16:19:00 GMT

Magnum Hunter Resources Corp. has agreed to sell 28% of its midstream segment, Eureka Hunter Holdings LLC, to an affiliate of energy investment firm ArcLight Capital Partners LLC for $100 million.

BREAKING NEWS: Obama may reverse course on Keystone XL Pipeline

Wed, 21 Mar 2012 15:46:00 GMT

John White of Triple Double Advisors LLC in Houston reported March 21 that the Winnipeg Free Press in Canada is saying that President Obama is “set to expedite a permit for the southern leg of the Keystone XL Pipeline.”

Chesapeake, M3 Midstream, EV Energy Partners to build midstream complex for Ohio Utica production

Wed, 14 Mar 2012 16:17:00 GMT

On March 13, Chesapeake Energy Corp. announced the execution of definitive agreements to build the largest integrated midstream service complex in eastern Ohio.

Kinder Morgan, El Paso merger wins stockholder approval

Fri, 09 Mar 2012 19:44:00 GMT

The deal to merge El Paso Corp. and Kinder Morgan Inc. and create North America's fourth largest company with a combined $94 billion enterprise value is one step closer to completion.

Gulfport Energy, MarkWest to develop Utica infrastructure

Wed, 07 Mar 2012 16:07:00 GMT

MarkWest Utica EMG LLC, a joint venture between MarkWest Energy Partners LP and The Energy and Minerals Group (EMG), have executed a letter of intent with Oklahoma City-based Gulfport Energy Corp. to provide gathering, processing, fractionation, and marketing services in the liquids-rich corridor of the Utica.

Teak Midstream to construct natural gas gathering system, processing plant in Eagle Ford

Wed, 22 Feb 2012 16:36:00 GMT

Dallas-based TEAK Midstream LLC is constructing over 200 miles of natural gas gathering and residue delivery pipelines and an adjoining 200 million cubic feet per day cryogenic gas processing plant in South Texas to serve gas producers operating in the Eagle Ford Shale play.

ConocoPhillips to sell Vietnam business unit to Perenco for $1.29B

Thu, 16 Feb 2012 17:57:00 GMT

Houston-based integrated energy company ConocoPhillips has entered into an agreement to sell its Vietnam business unit to a subsidiary of Perenco for a total of $1.29 billion plus customary working capital adjustments.

Baker Institute paper calls for alternative to Hormuz oil route

Mon, 13 Feb 2012 20:31:00 GMT

Improvements to the pipelines crossing the Arabian Peninsula would allow more of the oil produced in the Persian Gulf to avoid the Strait of Hormuz, according to a new paper from Rice University’s Baker Institute for Public Policy.

Copano adds to Eagle Ford presence with pipeline expansion, new long term contract

Fri, 10 Feb 2012 16:51:00 GMT

Midstream natural gas company Copano Energy LLC will extend its wholly-owned 96-mile, 24-inch DK Pipeline in the Eagle Ford Shale play by adding approximately 65 miles of 24-inch pipeline southwest into McMullen County, Texas.

Southcross expands natural gas processing complex in Eagle Ford area

Wed, 08 Feb 2012 21:36:00 GMT

To expand its ability to serve oil and gas producers operating in the Eagle Ford Shale, Southcross Energy has begun construction of a fractionator and natural gas liquids and residue pipeline outlets in South Texas.

J-W Energy restructures midstream subsidiaries

Fri, 03 Feb 2012 18:43:00 GMT

J-W Energy Co. is has formed J-W Midstream Co. The new entity will consolidate J-W Energy Co.'s midstream activities currently conducted by J-W Gathering Co., J-W Pipeline Co. and Q-West Energy Co.

Range Resources signs second ethane agreement

Thu, 26 Jan 2012 18:22:00 GMT

A subsidiary of Range Resources Corp. has signed an agreement to ship up to 20,000 barrels of ethane per day on Enterprise Products Partners LP's Appalachia-to-Texas ethane pipeline (ATEX Express).

Pembina to buy Provident Energy in $3.1B deal

Tue, 17 Jan 2012 18:31:00 GMT

Pembina Pipeline Corp. has agreed to acquire all of the issued and outstanding common shares of Provident Energy Ltd.

Enterprise to build ethane pipeline to Gulf Coast

Tue, 03 Jan 2012 21:52:00 GMT

Enterprise Products Partners LP (NYSE: EPD) said Jan. 3 it will develop and build a 1,230-mile ethane pipeline from areas of the Marcellus and Utica shale plays to the Gulf Coast.

Chesapeake Midstream to acquire US865 million in Marcellus Shale gas gathering assets

Thu, 29 Dec 2011 18:01:00 GMT

Chesapeake Midstream Partners LP (NYSE:CHKM) said Dec. 29 that it will acquire Appalachia Midstream Services LLC (AMS), the wholly owned subsidiary of Chesapeake Midstream Development LP that holds its Marcellus Shale midstream assets, for total consideration of $865 million.

Kinder Morgan to invest $130M in new condensate processing facility

Wed, 14 Dec 2011 19:17:00 GMT

Pipeline transportation and energy storage company Kinder Morgan Energy Partners LP (NYSE: KMP) said it will build, own and operate a petroleum condensate processing facility near its Galena Park terminal on the Houston Ship Channel.

Kinder Morgan to invest $210M to add new storage capacity at Edmonton Terminal

Wed, 30 Nov 2011 16:03:00 GMT

Pipeline and energy storage company Kinder Morgan Energy Partners LP said Wednesday that it will invest roughly $210 million to construct seven tanks with a storage capacity of 2.4 million barrels for crude oil and condensate at its Edmonton Terminal in Strathcona County, Alberta.

ConocoPhillips sells interests in certain US pipeline assets for $2B

Wed, 16 Nov 2011 18:55:00 GMT

As part of its $15-20 billion divestiture program set for the years 2010-2012, ConocoPhillips has entered into agreements to sell its interests in two US pipeline companies for a total of $2 billion.

Gulf LNG terminal co-owned by El Paso, GE Energy Financial, begins operations

Thu, 27 Oct 2011 15:55:40 GMT

The Gulf LNG regasification and liquefied natural gas storage facility co-owned by GE Energy Financial Services and El Paso Corp. has successfully begun operations.

NAM asks Washington to approve Keystone XL Pipeline soon to begin creating jobs

Wed, 26 Oct 2011 21:10:20 GMT

Chip Yost, vice president for energy and resources policy for the National Association of Manufacturers (NAM), issued a statement on Oct. 26 urging the Obama Administration to move forward as soon as possible on the decision to approve the Keystone XL Pipeline Project, which will transport crude oil from Canada to refineries along the US Gulf Coast in Texas.

Energy Transfer Partners enters Woodford, Barnett Shale midstream agreement with XTO

Fri, 21 Oct 2011 20:20:40 GMT

Energy Transfer Partners LP announced October 20 that it has entered into a long-term, fee-based agreement with XTO Energy to provide natural gas gathering, processing and transportation services from both the Woodford and Barnett Shale regions.

GE Energy Financial Services invests in Summit Midstream

Wed, 12 Oct 2011 15:55:20 GMT

GE Energy Financial Services is investing in Summit Midstream Partners LLC, which acquires and develops midstream energy infrastructure in unconventional North American production basins.

Rand Paul blocks federal pipeline safety regulation

Wed, 28 Sep 2011 20:35:30 GMT

Republican Senator Rand Paul of Kentucky is single-handedly blocking federal legislation on pipeline safety that the pipeline industry overwhelmingly supports. Paul says he opposes the regulation on “philosophical grounds.”

Encana to sell Piceance Basin natural gas midstream assets for US$590M

Wed, 07 Sep 2011 19:25:20 GMT

Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corp. has agreed to sell a portion of its Piceance natural gas midstream assets in Colorado to a private midstream company for approximately US$590 million.

HollyFrontier Corp. completes merger

Fri, 01 Jul 2011 13:35:10 GMT

HollyFrontier Corporation said July 1 that it has completed the merger of Holly Corporation and Frontier Oil Corporation.

Cardinal Gas Storage acquires Monroe Gas Storage for $148 million

Tue, 31 May 2011 20:15:40 GMT

Cardinal Gas Storage Partners LLC said May 31 that it has acquired Monroe Gas Storage Company LLC as well as an option on development rights to an adjacent depleted natural gas reservoir from High Sierra Monroe LLC, a wholly-owned subsidiary of High Sierra Energy LP and certain other shareholders. The total consideration is approximately $148 million.

Buckeye Partners will not acquire BP's interest in Inland Corp.

Wed, 18 May 2011 21:50:50 GMT

Houston-based Buckeye Partners LP said May 17 that its previously announced plan to acquire refined petroleum products terminals and pipelines from BP Products North America Inc. and its affiliates will not include the purchase of BP’s 50% interest in Inland Corporation for $60 million.

Kinder Morgan to buy Haynesville, Eagle Ford Shale assets for $920 million

Thu, 05 May 2011 14:40:20 GMT

Kinder Morgan Energy Partners LP has agreed to buy midstream assets in the Haynvesville Shale and Eagle Ford Shale from Petrohawk Energy for a total of roughly $920 million.

ONEOK to build new NGL pipeline and fractionator to serve Gulf Coast market

Mon, 02 May 2011 21:45:10 GMT

Tulsa-based ONEOK Partners LP said May 2 that it will invest between $910 million and $1.2 billion between now and late 2013 in order to construct a new 570-mile, 16-inch diameter NGL pipeline from the Mid-Continent region to the Texas Gulf Coast and build a new 75,000-bpd NGL fractionator at Mont Belvieu, Texas.

Nuevo Midstream LLC secures $65M in funding from investors

Wed, 13 Apr 2011 22:25:30 GMT

A new midstream natural gas company, Nuevo Midstream LLC, has obtained $65 million in funding from a group of investors, including Torch Energy Advisors Inc., EnCap Energy Infrastructure Fund, and Petroleum Fuels Co. Inc.

Atlas Pipeline Partners LP completes tender offer and redemption of senior notes

Fri, 08 Apr 2011 15:00:00 GMT

Philadelphia-based Atlas Pipeline Partners LP has announced the expiration and final results of the previously announced cash tender offer to purchase any and all of its 8-3/4% senior notes due 2018 at par.

Enterprise to expand NGL export facility at Houston Ship Channel terminal

Tue, 29 Mar 2011 20:10:20 GMT

Houston-based Enterprise Products Partners LP said March 29 that it will expand the partnership’s natural gas liquids (NGLs) import/export terminal on the Houston Ship Channel.

Kitimat LNG Partners to buy Pacific Trail Pipelines interest

Fri, 11 Feb 2011 00:01:00 GMT

Kitimat LNG partners Apache Canada Ltd. (Apache Canada) and EOG Resources Canada Inc. (EOG Canada) said Feb. 10 that they will purchase the 50% interest in the Pacific Trail Pipelines Limited Partnership (PTPLP) they do not own from Pacific Northern Gas Ltd. (PNG) for $50 million.

ONEOK Partners temporarily shuts down fractionator due to fire at adjacent facility

Tue, 08 Feb 2011 23:30:50 GMT

Tulsa-based ONEOK Partners LP said Tuesday, Feb. 8, that it has shut down temporarily its 160,000 barrel-per-day fractionator, MB-1, in Mont Belvieu, Texas, due to an apparent explosion and fire at an adjacent facility owned by Enterprise Products Partners.

Explosions, fire reported at Enterprise Products plant near Houston

Tue, 08 Feb 2011 20:45:50 GMT

A large fire erupted after several reported explosions just after noon on Tuesday, Feb. 8, at a natural gas liquids plant in Mont Belvieu, Texas, about 35 miles east of Houston.

GTI and CRI/Criterion sign biomass licensing agreement

Thu, 13 Jan 2011 16:40:40 GMT

On Jan. 13, the Gas Technology Institute signed an exclusive worldwide licensing agreement with Houston-based CRI/Criterion Inc., for its Integrated Hydropyrolysis and Hydroconversion (IH2) technology, which converts biomass directly into cellulosic gasoline and diesel hydrocarbon blendstocks.

A conversation with Kinder Morgan's Park Shaper

Sat, 01 Jan 2011 06:00:00 GMT

Kinder Morgan is one of the original companies with hydrocarbon producing assets to utilize the MLP structure.

Magnum Hunter Resources to acquire NGAS Resources

Mon, 27 Dec 2010 17:05:50 GMT

NGAS Resources Inc. has announced a definitive agreement to be acquired by Magnum Hunter Resources Corp. in an all-stock transaction valued at roughly $98 million.

Petrohawk sells Fayetteville Shale interests for $650M

Thu, 23 Dec 2010 15:00:00 GMT

Houston-based Petrohawk Energy Corp. said Dec. 23 it has completed the sale of its natural gas assets in the Fayetteville Shale, located primarily in Cleburne and Van Buren Counties, Arkansas, to XTO Energy Inc., a subsidiary of ExxonMobil, for $575 million.

Magnum Hunter to build gas plant in West Virginia

Mon, 20 Dec 2010 14:30:10 GMT

Houston-based Magnum Hunter Resources said Dec. 17 that it will construct a 200-MMcf per day capacity cryogenic natural gas processing plant in West Virginia.

Regency Energy to expand midstream assets in Eagle Ford shale

Tue, 14 Dec 2010 21:30:40 GMT

Regency Energy Partners LP has announced a series of expansion projects along its rich gas gathering system in south Texas to meet increasing producer demand in the Eagle Ford Shale.

Spectra announces open season for AIM project

Tue, 14 Dec 2010 15:30:40 GMT

Spectra Energy Corp.’s Algonquin Gas Transmission LLC announced a non-binding open season for the Algonquin Incremental Market (AIM) project, a proposed expansion of the company’s existing Algonquin pipeline system to deliver additional Appalachian and Marcellus Shale natural gas supplies to premium markets in the US Northeast and New England

Pipeline would transport Bolivian gas to Argentina's northeast

Mon, 13 Dec 2010 22:05:10 GMT

Argentina has approved plans for a pipeline to transport natural gas from Bolivia to Argentina’s northeast, which will reduce that region’s reliance on fuel oil, diesel, and LPG, according to the state regulatory agency, Enargas.

El Paso forms midstream JV with KKR

Wed, 08 Dec 2010 16:05:10 GMT

El Paso Midstream Group Inc., a subsidiary of El Paso Corp., and Kohlberg Kravis Roberts & Co. (KKR) said Dec. 7 they have executed agreements to create a new midstream joint venture.

Husky Energy signs deal with CNOOC

Wed, 08 Dec 2010 16:00:50 GMT

Calgary-based Husky Energy Inc. says that its wholly owned subsidiary, Husky Oil China Ltd., has signed an agreement with CNOOC specifying the key principles of cooperation for funding and operation of the Liwan 3-1 deep water gas field development.

Velocity Midstream begins Eagle Ford condensate gathering system construction

Tue, 07 Dec 2010 20:35:50 GMT

Velocity Midstream Partners LLC has begun construction on the initial 53 miles of its oil and condensate gathering system for Rosetta Resources Inc. and other producers in the liquids rich Eagle Ford Shale.

Cabot to sell Pennsylvania midstream assets to Williams

Fri, 19 Nov 2010 00:05:40 GMT

Cabot Oil & Gas Corp. is selling its Pennsylvania midstream assets to Williams Field Services Co. LLC (WFS), a subsidiary of Williams Partners LP, for $150 million plus a 25-year gathering agreement.

Regency Gas Services selects Triple Point to manage counterparty credit risk for energy commodities

Thu, 11 Nov 2010 16:40:50 GMT

Triple Point Technology has been selected by Regency Gas to provide counterparty credit risk and credit scoring software to manage credit risk processes for its growing natural gas and natural gas liquids (NGLs) business.

Chevron buys Atlas Energy in $4.3B deal, enters shale business

Wed, 10 Nov 2010 17:00:00 GMT

California-based Chevron Corp. will acquire Atlas Energy for cash of $3.2 billion and assume pro forma net debt of approximately $1.1 billion. The acquisition will provide Chevron with an attractive natural gas resource position primarily located in southwestern Pennsylvania's Marcellus Shale.

Antero Resources closes Oklahoma Midstream sale to Cardinal

Mon, 08 Nov 2010 17:05:40 GMT

Antero Resources has closed the sale of its midstream assets, located in the Woodford Shale area, to Cardinal Midstream LLC for $270 million.

Miller named to lead Williams' midstream business

Mon, 08 Nov 2010 16:35:50 GMT

Williams and Williams Partners LP have elected Rory Miller as senior vice president of Williams and senior vice president-midstream and director of Williams Partners, effective Jan. 3, 2011.

Copano Energy signs long-term deal with GeoSouthern in Eagle Ford Shale

Wed, 03 Nov 2010 15:00:20 GMT

Copano Energy has signed a long-term, fee-based agreement to provide GeoSouthern Energy Corp., one of the first producers to have success in the NGL-rich region of the northern Eagle Ford Shale play in Texas, with gathering, compression, processing, and fractionation services for its Eagle Ford Shale production.

Rowland to resign Chesapeake CFO post

Wed, 13 Oct 2010 19:10:40 GMT

After 18 years as CFO of Chesapeake Energy Corp., Marcus C. Rowland will resign to join Cisco, TX-based Frac Tech Services LLC as president.

Chesapeake enters $2.16B partnership with CNOOC in Eagle Ford shale

Mon, 11 Oct 2010 15:05:30 GMT

Chesapeake Energy Corp. has signed a joint venture with CNOOC for a third (200,000 net acres) of its Eagle Ford shale acreage for $2.16 billion or $10,800/acre (undiscounted).

Antero Resources to sell Woodford shale midstream assets for $268 million

Fri, 01 Oct 2010 15:55:10 GMT

Antero Resources has entered into definitive agreements to sell its midstream assets located in the Woodford Shale area of the Arkoma Basin of Oklahoma to affiliates of Cardinal Midstream LLC for $268 million in cash.

Koch Pipeline, Arrowhead Pipeline add to South Texas crude capacity

Fri, 01 Oct 2010 05:00:00 GMT

Koch Pipeline Company LP and Arrowhead Pipeline LP will move more Eagle Ford crude via the Arrowhead pipeline to Corpus Christi following a recent agreement and joint tariff.

PXP to sell shallow water GoM assets to McMoRan for $818M

Fri, 01 Oct 2010 05:00:00 GMT

Plains Exploration & Production Co. has agreed to sell certain of its shallow Gulf of Mexico properties to McMoRan Exploration Co. for a combination of cash and stock totaling $818 million.

Koch Pipeline, Arrowhead Pipeline add to South Texas crude capacity

Fri, 01 Oct 2010 05:00:00 GMT

Koch Pipeline Company LP and Arrowhead Pipeline LP will move more Eagle Ford crude via the Arrowhead pipeline to Corpus Christi following a recent agreement and joint tariff.

Meritage Midstream to extend Eagle Ford Escondido Gathering System

Tue, 28 Sep 2010 16:20:10 GMT

Golden, Colo.-based Meritage Midstream Services has entered into an agreement with Houston-based Swift Energy Co. to provide natural gas gathering and treating services in the Eagle Ford shale region of South Texas.

Magnum Hunter secures Marcellus takeaway with DCP Midstream JV

Fri, 17 Sep 2010 16:25:30 GMT

Through its wholly-owned subsidiary, Eureka Hunter Pipeline LLC, Magnum Hunter Resources Corp. has signed a Marcellus shale gas gathering joint venture agreement with DCP Midstream Partners LP and is now turning its sights on well testing.

Strategies are changing for unconventional gas (and oil) development

Mon, 13 Sep 2010 20:30:30 GMT

Enbridge reports second oil leak; updates ongoing efforts with EPA

Fri, 10 Sep 2010 17:10:00 GMT

On Thursday, September 9, Enbridge Energy Partners LP (NYSE:EEP) reported a leak from a pipeline owned by the company in Romeoville, Illinois. The leak is the second major pipeline spill reported by the company this summer.

Valero Texas Open raises $8 million for children's charities

Wed, 01 Sep 2010 05:00:00 GMT

With more than 21,000 employees around the company, it's no surprise that midstream energy company Valero Energy Corp. has a big presence.

Icon NGS to begin open season for Tallulah Gas Storage project in NE LA

Tue, 24 Aug 2010 22:40:20 GMT

Icon NGS LLC is holding a 30-day, non-binding open season to solicit expressions of interest for its Tallulah Gas Storage project (TGS) located in northeastern Louisiana approximately 15 miles east of the Delhi Hub and adjacent to the west-to-east pipelines connecting supply to and from the Delhi Hub.

Plains All American reaches $3.5M settlement with EPA, DOJ

Wed, 11 Aug 2010 14:00:00 GMT

Plains All American Pipeline LP (PAA) has reached a settlement agreement with the US Environmental Protection Agency and the US Department of Justice regarding 10 oil spills that occurred between 2004 and 2007.

El Paso to hold open season for proposed Marcellus ethane pipeline system

Mon, 09 Aug 2010 20:45:10 GMT

El Paso Midstream Group Inc., a subsidiary of El Paso Corp. is holding a 30-day, non-binding open season to solicit expressions of interest concerning the transportation of ethane on its proposed Marcellus Ethane Pipeline System (MEPS).

Logansport Gathering System expansion in Haynesville shale complete

Wed, 04 Aug 2010 16:00:10 GMT

Midstream energy company Regency Energy Partners LP (Nasdaq: RGNC) has completed the Phase I and Phase II expansions of its Logansport Gathering System located in the Haynesville Shale in north Louisiana.

Ecopetrol, Talisman snap up Columbian business from BP in US$1.9B deal

Tue, 03 Aug 2010 16:30:50 GMT

As part of the company’s plan to divest up to $30 billion of assets over the next 18 months, BP has agreed to sell its oil and gas exploration, production, and transportation business in Colombia to a consortium of Ecopetrol (51%), and Talisman Energy Inc. (49%).

Petrohawk launches $825M offering, offers up 5 percent 3Q10 growth profile

Tue, 03 Aug 2010 15:15:00 GMT

Petrohawk Energy Corp. has launched an offering of $825 million of senior notes due 2018. The offering, which is subject to market availability and other conditions, will be made only to qualified institutional buyers and non-United States persons outside the US.

Financing gas storage projects

Sun, 01 Aug 2010 05:00:00 GMT

Developers of natural gas storage projects planning to use debt financing to fund construction must be aware of key risks arising from the project's development and implement mitigation measures necessary to make the project financeable.

Financing gas storage projects

Sun, 01 Aug 2010 05:00:00 GMT

The race to liquids

Sun, 01 Aug 2010 05:00:00 GMT

Exploration and production companies are shifting their natural gas drilling budgets to high-BTU, liquid-rich plays, which is impacting gas processing, NGL markets, and petrochem feedstocks.

ONEOK Partners to build up to $700M of NGL projects

Tue, 27 Jul 2010 15:05:10 GMT

ONEOK Partners LP (NYSE: OKS) plans to build nearly $595 million to $730 million of natural gas liquids (NGL) projects between now and 2013.

Quicksilver Resources to sell Quicksilver Gas Services in $1B transaction

Fri, 23 Jul 2010 15:35:40 GMT

Murphy Oil to exit refining business with sale of three plants

Fri, 23 Jul 2010 14:40:40 GMT

Murphy Oil Corp. (NYSE:MUR) plans to exit the refining business. The refineries at Superior, Wisconsin; Meraux, Louisiana and Milford Haven, Wales along with the retail system in the UK will be placed for sale.

Equity commitments launch Caiman Energy's midstream expansion in Marcellus

Thu, 15 Jul 2010 17:05:50 GMT

Midstream energy company Caiman Energy LLC has secured equity commitments totaling $400 million to support its growing inventory of midstream development projects in the Marcellus shale.

LINN Energy adds to Permian Basin assets

Thu, 01 Jul 2010 20:30:30 GMT

Midstream energy company LINN Energy LLC is set to acquire more oil and natural gas properties in the Permian Basin for $90 million, subject to closing conditions.

MarkWest enters new $700M revolving credit facility

Thu, 01 Jul 2010 15:15:10 GMT

Midstream energy company MarkWest Energy Partners LP has executed a new $700 million senior secured revolving credit facility with a syndicate of banks led by Wells Fargo Securities LLC and RBC Capital Markets.

Richels adds CEO to title at Devon

Thu, 01 Jul 2010 05:00:00 GMT

John Richels, president of Devon Energy Corp. has been named to the additional position of CEO.

Gazprom closer to exporting gas to China, looks to partner in Alaska

Mon, 28 Jun 2010 15:00:40 GMT

Russia’s state-controlled gas giant, Gazprom, is steps closer to reaching an agreement to bring gas to China, and at the same time, has expressed an interest in participating in transportation and upstream projects in Alaska.

India’s Reliance partners with Pioneer to enter Eagle Ford Shale

Thu, 24 Jun 2010 16:30:50 GMT

Authorities issue court order to shut down Sempra Energy's Mexican LNG plant

Tue, 22 Jun 2010 15:05:10 GMT

Mexican authorities ohave issued a Federal Court Order to shut down Sempra Energy's Mexican LNG plant following an ongoing dispute with landowner Ramon Eugenio Sanchez Ritchie.

Southwestern places 106 operated wells in Fayetteville shale in 1Q10

Wed, 16 Jun 2010 19:30:20 GMT

Southwestern Energy Co., the first company to drill and produce natural gas from the Fayetteville shale and the largest gas producer in the play (gross operated production of nearly 1,330 MMcf/d as of April 25, 2010), placed a total of 106 operated horizontal wells on production in the play, in the first quarter of 2010.

Waterfield Energy names Waldroop president, CEO

Mon, 14 Jun 2010 14:50:10 GMT

Waterfield Energy, a provider of software to the energy upstream, midstream, and transportation markets, has named Pete Waldroop president and CEO.

EnCap Flatrock Midstream provides financing to newly-formed Caballo Energy

Tue, 08 Jun 2010 15:50:20 GMT

Caballo Energy LLC has secured a private equity commitment from the EnCap Energy Infrastructure Fund LP (EEIF), a private equity fund managed by EnCap Investments LP and EnCap Flatrock Midstream.

Copano Energy names Goodpasture senior vice president

Mon, 07 Jun 2010 19:15:50 GMT

Houston-based midstream energy company Copano Energy LLC has named John N. Goodpasture senior vice president, corporate development of Copano. Goodpasture will report to R. Bruce Northcutt, Copano's president and CEO, and will be responsible for all of Copano's corporate development activities.

Joint ventures highlight month's top deals

Tue, 01 Jun 2010 05:00:00 GMT

The largest US deal of the past month was BG Group's joint venture (JV) with EXCO Resources in the Appalachian basin, primarily PA and WV.

Devon Energy Woodford shale update

Sun, 30 May 2010 21:40:10 GMT

When independent oil and gas exploration and production company Devon Energy Corp. presented at the UBS Global Oil and Gas Conference in May, the company briefed analysts and investors on its current 2010 capital expenditure budget that reinforced its position in the oil and gas shale plays.

Petrohawk Energy closes transactions

Mon, 24 May 2010 17:50:50 GMT

Houston-based oil and gas company Petrohawk Energy Corp. has closed on two previously announced transactions, a 50/50 joint venture with Kinder Morgan Energy Partners LP involving the company's midstream business in the Haynesville Shale for $875 million, and the sale of Terryville Field for $320 million.

Gateway terminates CEO, CFO; board members resign

Fri, 21 May 2010 15:20:30 GMT

On May 19, 2010, midstream energy company Gateway Energy Corp.’s board of directors terminated, without cause, the employment of Robert Panico, Gateway's CEO and president; and Christopher Rasmussen, Gateway's CFO.

Psencik joins Buckeye Partners as VP, market development

Wed, 19 May 2010 15:20:00 GMT

Anne Psencik has joined midstream energy company Buckeye Partners LP as vice president, market development.

Kinder Morgan Energy Partners, Copano Energy sign Eagle Ford Shale JV

Mon, 17 May 2010 22:00:30 GMT

Oil and gas midstream companies Kinder Morgan Energy Partners LP and Copano Energy LLC have entered into agreements for Eagle Ford Gathering LLC, a 50/50 joint venture to provide gathering, transportation and processing services to natural gas producers in the Eagle Ford Shale resource play in South Texas.

Enterprise prices $2B of senior notes

Thu, 13 May 2010 17:00:20 GMT

Midstream energy services provider Enterprise Products Partners LP has priced a public offering of $400 million of senior unsecured notes due 2015; $1.0 billion of senior unsecured notes due 2020 and $600 million of senior unsecured notes due 2040.

Enterprise, Duncan Energy to expand facilities related to Eagle Ford production

Thu, 13 May 2010 17:00:20 GMT

As part of a plan to expand midstream infrastructure to handle natural gas production from the South Texas Eagle Ford shale play, Enterprise Products Partners LP and Duncan Energy Partners LP will expand their jointly-owned South Texas Shoup and Armstrong facilities, which provide natural gas processing and natural gas liquids fractionation services.

Peregrine Midstream Partners plans Rocky Mountains gas storage project near Opal Hub

Tue, 11 May 2010 21:00:20 GMT

Ryckman Creek Resources LLC, a wholly-owned subsidiary of Peregrine Midstream Partners LLC, has received approval to use the Federal Energy Regulatory Commission’s (FERC) pre-filing review process for its Ryckman Creek Gas Storage Project, a new interstate natural gas storage development in Uinta County, Wyoming, near the highly liquid Opal Hub.

EXCO Resources, BG Group form JV

Mon, 10 May 2010 15:25:20 GMT

Dallas-based EXCO Resources said Monday, May 10, it is entering into a joint venture with BG Group to develop and operate EXCO’s Appalachian assets located mainly in Pennsylvania and West Virginia. The deal is expected to close in June and is subject to customary closing conditions.

Tudor Pickering Holt develops into key energy finance player

Sat, 01 May 2010 05:00:00 GMT

Tudor, Pickering, Holt & Co. was formed in 2007 with the merger of Tudor Capital and Pickering Energy Partners. What was your vision for the firm when you and Dan decided to join forces?

Champion philanthropist Dan L. Duncan remembered

Sat, 01 May 2010 05:00:00 GMT

Houston businessman and chairman of Enterprise Products Partners LP, Dan L. Duncan, passed away unexpectedly at his home the night of March 28, 2010 at the age of 77.

TCM starts construction on East Texas gas gathering system

Wed, 28 Apr 2010 16:15:00 GMT

Tenaska Capital Management LLC (TCM) has started construction of TPF II East Texas Gathering LLC (ETG), a major high capacity natural gas gathering system with multi-market capacity to serve the Haynesville shale formation in East Texas.

ONEOK Partners to invest over $400M in Bakken, Woodford growth projects

Thu, 22 Apr 2010 12:15:30 GMT

Tulsa, OK-based ONEOK Partners LP, one of the largest publicly traded master limited partnerships, plans to invest nearly $405 million to $470 million between now and the end of 2011 for projects in two shale plays, the Bakken Shale in the Williston Basin in North Dakota, and the Woodford Shale in Oklahoma.

Provident to separate upstream, midstream businesses; names new CEO

Tue, 20 Apr 2010 19:55:40 GMT

Calgary, Alberta-based Provident Energy Trust has plans to separate its upstream and midstream business segements and will move forward with a new CEO.

EnCap Flatrock Midstream raises $791.6M private equity fund

Mon, 19 Apr 2010 20:25:10 GMT

Oil and gas private equity firm EnCap Investments LP and Flatrock Energy Advisors LLC have closed EnCap Energy Infrastructure Fund LP, with total capital commitments of $791.6 million.

Cutter joins Pace Global’s energy markets, financial services team

Thu, 15 Apr 2010 19:30:40 GMT

Brian Cutter has joined Pace Global Energy Services LLC as vice president and will be located in the Houston Office.

Petrohawk Energy sells half of Haynesville midstream ops for $875M

Tue, 13 Apr 2010 16:25:10 GMT

Houston-based oil and natural gas company Petrohawk Energy Corp. has entered into a definitive agreement to sell a 50% interest in it's Haynesville Shale gathering and treating business for $875 million in cash to Kinder Morgan Energy Partners LP.

Dominion Gas awarded Nord Stream deal

Tue, 06 Apr 2010 21:45:50 GMT

Copano Energy names Wade president, COO of Texas operating segment

Wed, 31 Mar 2010 18:15:50 GMT

Houston-based midstream natural gas company Copano Energy LLC has appointed James E. Wade senior vice president of Copano and president and chief operating officer of the company's Texas operating segment subsidiaries, effective April 5, 2010.

LINN expands Permian Basin acreage for $305M

Tue, 30 Mar 2010 16:30:10 GMT

LINN Energy LLC has added to its oil and natural gas assets in the Permian Basin with a recent $305 million acquisition.

Enterprise mourns loss of Dan Duncan

Mon, 29 Mar 2010 20:25:00 GMT

Dan L. Duncan, long time oilman, co-founder of Enterprise Products Co., and legendary philanthropist, passed away Sunday night at his home in Houston.

El Paso acquires majority stakes in LNG assets for $810M

Fri, 26 Mar 2010 19:10:00 GMT

El Paso Pipeline Partners LP has agreed to acquire a 51% interest in both Southern LNG Co. LLC and El Paso Elba Express Co. LLC from El Paso Corp. for $810 million.

LINN Energy to acquire Atrim Shale properties for $330M

Tue, 23 Mar 2010 22:15:30 GMT

Midstream energy company LINN Energy LLC has agreed to purchase natural gas properties in the Antrim Shale from HighMount Exploration & Production LLC for $330 million and plans to partially fund the acquisition with a public offering and an amendment to its revolving credit facility.

Copano Energy raises $172M in offering

Thu, 18 Mar 2010 20:55:50 GMT

Houston-based midstream natural gas company Copano Energy LLC has closed the sale of 971,250 units to underwriters over its original 6,475,000 common units offered in its recent public offering which closed March 8.

Regency Energy Partners amends, extends credit facility

Mon, 08 Mar 2010 16:15:10 GMT

Midstream natural gas services provider Regency Energy Partners LP has amended and extended its $900 million revolving credit facility through June 15, 2014.

Williams launches open season for Marcellus pipeline expansion

Fri, 05 Mar 2010 16:20:00 GMT

A unit of Williams Partners LP is initiating a binding open season from March 4 to March 26, 2010, for an expansion of its Transco pipeline to provide incremental firm natural gas transportation capacity to transport Pennsylvania Marcellus supply to New York and New Jersey markets.

Bracewell & Giuliani adds Lewis, Morgan to energy practice

Mon, 01 Mar 2010 16:30:10 GMT

Law firm Bracewell & Giuliani LLP has hired Mark Lewis and Kirk Morgan, both formerly of Paul Hastings, to join the firm’s Washington, D.C. office as partners in its energy practice.

Optimizing the refinery supply chain can increase margins, ensure survival

Mon, 01 Mar 2010 06:00:00 GMT

In the current volatile and arduous economic market, it is critical to expend substantial resources towards refinery scheduling to improve profitability.

Husky chief heads to China to run Asia-Pacific ops

Wed, 24 Feb 2010 22:10:40 GMT

John C.S. Lau plans to retire as president and CEO of Canada’s Husky Energy to relocate to Hong Kong where he will assume responsibility for leading the development of the company's businesses in the Asia-Pacific Region, including existing businesses in Indonesia and the South China Sea.

Natural gas producer El Paso to sell Mexican pipeline assets

Wed, 24 Feb 2010 15:50:00 GMT

Houston-based natural gas and energy products provider El Paso Corp. has entered into an agreement to sell its interest in Mexican pipeline and compression assets to a unit of Sempra Energy for $300 million.

Genesis Energy GP acquired by Quintana Capital Group

Mon, 15 Feb 2010 20:00:20 GMT

Quintana Capital Group, a Houston-based, energy-focused private-equity firm, acquired all membership interests of Genesis Energy LP’s general partner from Denbury Resources Inc. for roughly $85 million in cash.

CFO retires from Germany-based RWE Dea after 30 years

Fri, 12 Feb 2010 19:55:10 GMT

Lutz-Michael Liebau, CFO of Hamburg, Germany-based international oil and gas exploration and production operator, RWE Dea, will retire on October 31, 2010. Dr. Johannes Karlisch has been named to succeed him.

McDermott Will & Emery adds energy lawyers to Houston office

Tue, 09 Feb 2010 15:40:30 GMT

McDermott Will & Emery LLP has hired Blake H. Winburneas a partner in the Energy & Commodities Advisory Practice Group, residing in the firm’s Houston office.

Frontier acquires gas gathering systems in Fayetteville

Wed, 03 Feb 2010 17:05:00 GMT

Tulsa, Okla.-based Frontier Gas Services LLC has acquired two gas gathering systems located in the Fayetteville Shale in Faulkner and Conway Counties, Arkansas.

Rebranded GL Noble Denton launches ahead of expected consultancy demand

Tue, 02 Feb 2010 15:40:20 GMT

Madison Williams promotes Lane to managing director

Mon, 01 Feb 2010 18:40:00 GMT

Madison Williams has promoted Robert Lane to managing director in the investment banking firms’ oil and gas practice, based in Houston.

Burleson Cooke extends Marcellus reach; adds five to Pittsburgh office

Mon, 01 Feb 2010 06:00:00 GMT

The Houston energy law firm of Burleson Cooke has added five lawyers to its Pittsburgh office to better serve companies with an interest in the Marcellus Shale formation.

DCP Midstream Partners pays $22M for pipeline, expands NGL business

Fri, 29 Jan 2010 16:10:30 GMT

DCP Midstream Partners LP has acquired an interstate natural gas liquids pipeline system from Buckeye Partners LP for $22 million in cash.

Gateway buys Barnett shale gathering system

Mon, 11 Jan 2010 20:15:20 GMT

Gateway Energy Corp. has acquired the Hickory Creek Gathering System from Hickory Creek Gathering LP and Range Texas Production LLC for a cash purchase price of $3.9 million.

MoBay Storage Hub holds open season

Thu, 07 Jan 2010 19:00:50 GMT

MoBay Storage Hub LLC, has launched an open season for up to 8.0 Bcf of firm natural gas storage service. Bids are due by 5 p.m. CST on February 2, 2010.

Chesapeake Midstream Partners taps Shiels CFO

Thu, 07 Jan 2010 18:10:30 GMT

Chesapeake Midstream Partners LLC, the recently formed entity which purchased and operates Chesapeake Energy's Barnett, Permian, and Mid-Continent natural gas gathering and treating assets, has hired David C. Shiels as CFO.

Copano mourns passing of chairman, CEO Eckel; Northcutt, Thacker fill roles

Tue, 01 Dec 2009 06:00:00 GMT

John R. Eckel, Jr., the chairman and CEO of Houston-based Copano Energy LLC has passed away at age 58.

Surviving the downturn, building for the future

Tue, 01 Dec 2009 06:00:00 GMT

E&P companies now have the motivation to examine and manage their operations more efficiently and effectively.

Koch Pipeline expands South Texas capabilities

Mon, 30 Nov 2009 17:40:40 GMT

Koch Pipeline Co. LP will increase its crude oil pipeline transportation capacity by about 25% in January, 2010.

Gastar sells East Texas gathering system

Wed, 18 Nov 2009 16:10:40 GMT

Gastar Exploration Ltd. has sold its majority interest in the Hilltop Resort Gathering System to US Infrastructure LP for roughly $21.7 million.

Multinationals on the move - refineries on the up in Asia Pacific

Tue, 10 Nov 2009 16:10:30 GMT

The more relaxed emission criteria have provided an impetus for operators to move their refinery operations from Europe and North America to Asia- Pacific.

TPH Partners creates Storm Peak Energy

Thu, 05 Nov 2009 16:00:20 GMT

TPH Partners LP, the private equity arm of Tudor, Pickering, Holt & Co. created of Storm Peark Energy, a Midland, Texas-based energy company that will work in the Permian Basin area to acquire, develop and exploit area resources.

Ballentine joins Burleson Cooke

Sun, 01 Nov 2009 05:00:00 GMT

Robert S. Ballentine has joined Burleson Cooke LLP as a partner and will concentrate his practice in the areas of commercial litigation and oil and gas law.

GE Oil & Gas to supply services for Qatargas LNG network

Thu, 29 Oct 2009 19:50:20 GMT

GE Oil & Gas’ PII Pipeline Solutions business has been awarded a multi-million US dollar, six-year contract to supply Qatargas Operating Co. Ltd. with pipeline integrity management services to enhance the monitoring and maintenance of the company’s liquid natural gas network.

El Paso shuffles executive committee

Wed, 21 Oct 2009 15:05:30 GMT

El Paso Corp. has made changes to the executive committee of the company.

Occidental to purchase one of Citi's most profitable businesses

Fri, 09 Oct 2009 15:15:00 GMT

Los Angeles-based oil producer Occidental Petroleum Corp. has deflected some recent controversy from Citigroup Inc. by agreeing to purchase its oil and gas trading arm, Phibro LLC.

Tenaska Capital Management plans gathering system to serve Haynesville

Thu, 08 Oct 2009 20:00:10 GMT

Chesapeake to sell substantial portion of midstream assets

Fri, 25 Sep 2009 15:25:10 GMT

Chesapeake Energy Corp. is selling a substantial portion of its midstream assets, including those in the Barnett and other areas for $588 million in cash.

Quest Resource gains new credit facility, receives notice from NASDAQ

Fri, 18 Sep 2009 12:00:00 GMT

Oklahoma City-based Quest Resource Corp. has entered into a Second Amended and Restated Credit Agreement with Royal Bank of Canada.

Regency Energy Partners raises $80M gain Haynesville share

Tue, 08 Sep 2009 20:50:10 GMT

Dallas-based Regency Energy Partners LP has issued $80 million of Series A Convertible Preferred Units in hopes of gaining Haynesville shale interest.

Eyeing natural gas as linchpin fuel, Tenaska Capital Management expands

Tue, 01 Sep 2009 05:00:00 GMT

Tenaska Capital Management LLC (TCM), an affiliate of Tenaska Energy Inc. and the manager of the $2.4 billion TPF II LP private equity fund, has expanded and diversified its investment in the US midstream natural gas sector by establishing a joint venture that will operate as Frontier Gas Services LLC (Gas Services).

Copano Energy makes management changes

Wed, 19 Aug 2009 16:05:30 GMT

Houston-based midstream natural gas company Copano Energy LLC has made several management changes.

Apache signs MOU with Kitimat LNG

Fri, 14 Aug 2009 20:00:10 GMT

Apache Corp. has signed a memorandum of understanding with Calgary-based Kitimat LNG Inc. to supply natural gas to Kitimat LNG’s proposed LNG export terminal.

Chevron moves forward on Australian Wheatstone project; awards contract to Bechtel

Thu, 30 Jul 2009 17:00:20 GMT

Velocity Midstream Partners closes Berry East Texas midstream acquisition

Wed, 22 Jul 2009 14:25:30 GMT

Velocity Midstream Partners LLC finalized its acquisition of certain Berry Petroleum Co. midstream infrastructure assets.

Falcon Gas Storage hires new CFO

Mon, 06 Jul 2009 21:45:10 GMT

Falcon Gas Storage Co. Inc. has appointed Antoine Lafargue as CFO. Lafargue comes from Arcapita BSC, Falcon's largest shareholder and equity sponsor.

SEC charges two former Quest Resource executives with fraud

Tue, 23 Jun 2009 20:20:10 GMT

The US Securities and Exchange Commission charged two former Quest Resource Corp. executives on June 17 with securities fraud and other violations for allegedly misappropriating millions of dollars.

Tricor Ten Section Hub seeks FERC authority to construct new gas storage hub

Tue, 16 Jun 2009 17:45:50 GMT

Tricor Ten Section Hub LLC has filed an application with the Federal Energy Regulatory Commission (FERC) for authorization to construct and operate a high-deliverability, multi-cycle underground natural gas storage facility in Kern County, Calif. ten miles southwest of the city of Bakersfield.

Continental Resources taps Muncrief as senior VP, ops

Fri, 12 Jun 2009 16:55:20 GMT

Continental Resources Inc. has appointed Richard E. Muncrief to serve as senior vice president of operations for the Oklahoma-based oil and gas exploration and production company.

‘Unprecedented oversupply’ of natural gas coming this summer, says Marshall Adkins

Mon, 01 Jun 2009 05:06:00 GMT

AN INTERVIEW WITH MARSHALL ADKINS, MANAGING DIRECTOR, ENERGY EQUITY RESEARCH, RAYMOND JAMES

Recognizing growing hardships, Dominion donates $1 million to healthcare

Mon, 01 Jun 2009 05:06:00 GMT

Dominion Foundation, the philanthropic arm of Dominion Resources, was founded as a way for the company to lend a helping hand.

DCP Midstream begins first phase of Anadarko-Woodford shale play expansion

Fri, 29 May 2009 15:05:50 GMT

DCP Midstream LLC has started up new facilities servicing Anadarko-Woodford Shale resource play development in Oklahoma's Blaine and Canadian counties.

Berry Petroleum to sell East Texas midstream assets

Wed, 27 May 2009 15:45:30 GMT

Denver-based independent oil and gas exploration and production company Berry Petroleum Co. is selling its East Texas gas gathering system to a private party for $18.5 million in cash.

UK Budget set to boost North Sea projects; some still disappointed

Thu, 07 May 2009 19:05:00 GMT

When the specifics of the North Sea taxation rules came out just a few weeks ago, the results, for the most part, were expected, but many in the industry feel that more can be done.

MarkWest Energy Partners, ArcLight Capital form Arkoma Connector Joint Venture

Mon, 04 May 2009 21:06:00 GMT

Midstream energy company MarkWest Energy Partners LP and ArcLight Capital Partners LLC have formed a joint venture dedicated to the construction and operation of the Arkoma Connector pipeline, a 50-mile interstate pipeline that will provide roughly 625,000 dekatherms per day of Woodford Shale takeaway capacity and interconnects with Midcontinent Express Pipeline and Gulf Crossing Pipeline.

The time is ripe for mergers

Fri, 01 May 2009 05:05:00 GMT

Company acquisitions can be a strain on resources, but it is crucial to have business systems in place to accurately and effectively integrate the acquired company’s data into your business.

WellPoint Systems releases WellPoint Integrated Suite 5.0

Tue, 14 Apr 2009 22:00:20 GMT

WellPoint Systems Inc., a provider of enterprise software and related solutions to the energy industry, has released WellPoint Integrated Suite (WIS) 5.0, an oil and gas software application suite powered by Microsoft Dynamics AX 2009.

McJunkin Red Man opens offices in Houston

Tue, 14 Apr 2009 19:30:10 GMT

McJunkin Red Man Corp. (MRC), a distributor of pipe, valves, and fittings and related products and services to the energy industry, has opened new executive offices in Houston.

MarkWest, NGP Midstream ink Marcellus Shale JV

Tue, 07 Apr 2009 22:40:10 GMT

MarkWest Energy Partners LP, a growth-oriented master limited partnership engaged in the gathering, transportation, and processing of natural gas, and the gathering and transportation of crude oil, and NGP Midstream & Resources LP (M&R), a $1.4 billion private equity fund, have agreed to form a joint venture to construct and operate natural gas midstream services to support producer customers in the Marcellus Shale.

Tenaska Capital Management closes $2.4B private equity fund

Tue, 07 Apr 2009 22:35:20 GMT

Tenaska Capital Management LLC, an affiliate of Tenaska Inc., has closed TPF II LP, with more than $2.4 billion of committed capital. TPF II is the follow-on fund to the $838 million Tenaska Power Fund LP closed in 2005.

NEB, Canadian Offshore Petroleum Board ink pipeline MOU

Tue, 07 Apr 2009 22:30:50 GMT

A memorandum of understanding signed by the National Energy Board (NEB) and the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) makes the regulation of pipelines more efficient and effective.

Former Falcon management form Peregrine Midstream Partners

Tue, 07 Apr 2009 22:05:50 GMT

Four members of Falcon Gas Storage Co.'s original founding management group have formed a new company called Peregrine Midstream Partners LLC.

Waterborne Energy reports 28% jump in US LNG imports by end February

Tue, 07 Apr 2009 20:35:50 GMT

Houston-based Waterborne monitors and analyzes LNG markets around the world. The company recently noted it expects US LNG imports to be up 28% for the quarter ending in February, compared to the same quarter ending February, 2008.

Blue Dolphin to deliver production from GoM pipeline

Wed, 11 Feb 2009 20:02:00 GMT

Blue Dolphin Energy Co.'s wholly-owned subsidiary, Blue Dolphin Pipe Line Co., has entered into gas and condensate transportation and production handling agreements with a new producer/shipper to deliver production into the Blue Dolphin Pipeline system at the company's Galveston Block 288C platform.

Quorum TIPS becomes SAP-endorsed business solution

Wed, 11 Feb 2009 20:02:00 GMT

April 8, 2009 - Quorum TIPS, an offering of software solutions provider to the oil and gas industry, Quorum Business Solutions Inc., has become an SAP-endorsed business solution.

MarkWest Energy Partners, ArcLight Capital form Arkoma Connector Joint Venture

Wed, 11 Feb 2009 20:02:00 GMT

Midstream energy company MarkWest Energy Partners LP and ArcLight Capital Partners LLC have formed a joint venture dedicated to the construction and operation of the Arkoma Connector pipeline.

Fleckman resigns Regency Energy posts, signs on at Mayer Brown

Wed, 11 Feb 2009 20:02:00 GMT

Dan Fleckman has resigned his positions as chief legal officer, executive vice president, and secretary of Regency Energy Partners LP, a midstream energy partnership engaged in the gathering, contract compression, processing, marketing and transporting of natural gas and natural gas liquids.

SemGroup files bankruptcy reorganization plan

Wed, 11 Feb 2009 20:02:00 GMT

SemGroup LP, a provider of midstream services to the energy industry, and certain of its subsidiaries have filed their Plan of Reorganization and related Disclosure Statement with the US Bankruptcy Court for the District of Delaware.

SandRidge Energy works to become cash-flow positive by 2011

Sun, 01 Feb 2009 06:02:00 GMT

Oklahoma City-based, SandRidge Energy Inc., an independent oil and natural gas company, is working hard to increase liquidity in the current climate.

Chesapeake closes revolving bank credit facility expandable from $460M to $750M

Sat, 01 Nov 2008 05:11:00 GMT

Chesapeake has closed a new secured revolving bank credit facility for an affiliate of its unrestricted subsidiary, Chesapeake Midstream Partners LP (CMP).

Going to market

Sat, 01 Nov 2008 05:11:00 GMT

E&P companies that issued equity in the frothy markets of early 2008 are sitting pretty.

SEC enacts new order to curb short selling

Wed, 01 Oct 2008 05:10:00 GMT

Just last month, Oil & Gas Financial Journal covered the issue of short selling stocks.

SEC enacts new order to curb short selling

Tue, 30 Sep 2008 16:09:00 GMT

The September issue of Oil & Gas Financial Journal covered the issue of short selling stocks (click here to view).

At the time, an unprecedented emergency order put in place by the SEC aimed to shield certain financial institutions against unlawful market manipulation had just ceased.

The SEC has just issued a new order, and this time, 799 institutions are on the list.

Haynesville excitement takes Louisiana by storm

Tue, 26 Aug 2008 17:08:00 GMT

At the Houston, Texas office of Graves & Co., Louisiana's Commissioner of Conservation, Jim Welsh, spoke to a group eager to hear about the state of Louisiana - particularly the economic boom that is expected to accompany the Haynesville Shale development.

A few minutes with Cameron Smith

Fri, 01 Aug 2008 05:08:00 GMT

EDITOR’S NOTE: Rodman & Renshaw Capital Group acquired one of the best-known private boutique investment banks in the energy industry in May.

Oxy signs agreements with Libyan NOC; ramps up EOR projects

Fri, 01 Aug 2008 05:08:00 GMT

While Occidental Petroleum Corp. has secured its place as the fourth largest US oil and gas company, it is not stopping there.

ConocoPhillips, ADNOC agree to $10B Shah Gas Field development

Tue, 08 Jul 2008 20:07:00 GMT

ConocoPhillips and Abu Dhabi National Oil Co. (ADNOC) have signed an Interim Agreement to develop the Shah Gas Field in Abu Dhabi. The project is expected to cost more than $10 billion.

ConocoPhillips and ADNOC will jointly share the ongoing cost of front-end engineering and design (FEED) and project mobilization for the Shah Gas Field development. Final project agreements are expected to be completed by year-end.

ConocoPhillips, ADNOC agree to $10B Shah Gas Field development

Tue, 08 Jul 2008 20:07:00 GMT

ConocoPhillips and Abu Dhabi National Oil Co. (ADNOC) have signed an Interim Agreement to develop the Shah Gas Field in Abu Dhabi. The project is expected to cost more than $10 billion.

ShawCor divisions win multiple million dollar contracts

Tue, 24 Jun 2008 16:06:00 GMT

Several ShawCor Ltd. divisions have recently won multiple million dollar contracts.

Shaw Pipe, a division of ShawCor Ltd. has received a contract with a value in excess of $50 million to provide coatings for the Enbridge Alberta Clipper project. Coating will commence in the third quarter of 2008 at the company's Regina pipe coating facility.

Former Falcon management form Peregrine Midstream Partners

Tue, 24 Jun 2008 16:06:00 GMT

Four members of Falcon Gas Storage Co.'s original founding management group have formed a new company called Peregrine Midstream Partners LLC. John M. Hopper, Jeffrey H. Foutch, Keith Chandler, and Thomas B. Wynne, all part of Falcon's founding management team, have formed the new Peregrine venture to pursue development and acquisition opportunities in the midstream energy sector.

Mastering the MLP

Thu, 01 May 2008 05:05:00 GMT

Master limited partnerships offer many advantages over other business structures, not the least of which are the tax benefits.

PAA secures private placement of $350M

Thu, 20 Mar 2008 06:03:53 GMT

Plains All American Pipeline LP has commenced a private placement of $350 million of senior notes. The senior notes are expected to be eligible for trading under Rule 144A.

The partnership intends to use the proceeds to reduce outstanding borrowings under its credit facilities, which may be reborrowed to fund its capital program, including the acquisition of the Rainbow Pipe Line Co. and other acquisitions, and for general partnership purposes.

Midstream News

Sat, 01 Dec 2007 06:12:00 GMT

Canada’s NEB approves Deep Panuke Pipeline; forecasts deliverability decline

Thu, 01 Nov 2007 05:11:00 GMT

The National Energy Board has approved an application by EnCana Corp. to build a 176–kilometer long underwater pipeline off the coast of Nova Scotia.

Chesapeake initiates sale of certain assets; plans private MLP formation

Mon, 01 Oct 2007 05:10:00 GMT

Oklahoma City-based Chesapeake Energy Corp. has enhanced its financial plan for 2008-2009.

Industry Briefs

Wed, 01 Aug 2007 05:08:00 GMT

Anadarko Petroleum Corp. has reached an agreement with Atlas Pipeline Partners LP.

Special Report: Hurricane Preparedness - Oil and gas interests warned of active 2007 hurricane season

Fri, 01 Jun 2007 05:06:00 GMT

In contrast to the hyperactive 2004 and 2005 hurricane seasons, last year was relatively quiet with no hurricanes making landfall in the US - only the 12th time this has happened since 1950.

Control & influences on world oil price

Sun, 01 Oct 2006 05:10:00 GMT

From the early days of the oil industry through the first global oil crisis of the mid-1960s and 1970s, the major international oil companies (all originating from the United States and Europe) had control of the oil supply chains and were able to dictate the price of crude oil to the major producing nations, primarily located in the Middle East.