Tag: midstream

ONEOK buys Chevron NGL pipelines for $800 million

The deal gives the company 2,600 miles of natural gas liquid gathering pipelines from southeast New Mexico to Mont Belvieu.  More »

Shell Midstream launches IPO

Royal Dutch Shell’s midstream partnership launched its initial public offering in New York Monday, the company announced Monday.  More »

Hess planning IPO for midstream MLP

Several Hess midstream assets in North Dakota and Minnesota will be part of the offering.  More »

Enbridge aims to burnish image with feel-good ads

Enbridge is aiming to change the national debate about energy — and buff up its own image at the same time — with a multi-million-dollar advertising campaign highlighting how oil and gas fuel our lives.  More »

Private equity firm adds $2.5B to energy infrastructure funding

First Reserve has closed on a $2.5 billion fund to back energy infrastructure, more than doubling the capital it had gathered to inject into pipeline, storage and liquefied natural gas projects.  More »

Panel: Private equity nearly saturated in upstream market

Private equity firms will continue to throw capital at U.S. independent producers despite tell-tale signs that the number of high-quality investment opportunities is shrinking, a panel of private equity investors said Wednesday.  More »

Phillips 66 shifts focus with $3 billion in new projects

Phillips 66 is no longer betting its future on the massive refining business that made it the second-largest energy company in the world. Instead, it’s using refining, once its most profitable arm, as a cash cow to transform itself into a business that primarily operates energy transportation, storage and processing infrastructure.  More »

Phillips 66 income rises on increased exports

Increased exports of refined petroleum products and improved U.S. crude price differentials drove Phillips 66′s profit up 17 percent in the fourth quarter, the company said Wednesday.  More »

Uncertainty over oil and gas prices dampened deal making in 2013

Mergers and acquisitions deal values declined by more than 20 percent last year, coming in at $337 billion, down from $423 for 2012, according to an EY study on global oil and gas transactions issued earlier this week.  More »

Midstream spending, market value rise to new heights on pipeline demand

Since the beginning of the shale production boom, Kinder Morgan and other companies that operate pipelines and other oil and gas infrastructure have boosted their spending from about $7 billion in 2006 to $26 billion last year.  More »

Phillips 66 profits fall on refining loss

Profits for oil refiner Phillips 66 dove 67 percent in the third quarter as its refining business fell to a $2 million loss, the company reported Wednesday.  More »

Shale overload pushing exports to Asia to new highs

U.S. exports of natural gas liquids, already at a record amid surging output from shale deposits, are poised to quadruple by 2020 as the expansion of the Panama Canal cuts shipping costs to Asia.  More »
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