Thursday, December 26, 2024
DAPL Moves Towards Completion, “Keep it in the Ground” Gets Crazier

Trump Administration Action Signals Plans to Move Forward with Keystone XL and Dakota Access

Trump executive action could expedite energy pipeline projects President Donald Trump signed executive actions to accelerate the Keystone XL and Dakota Access pipeline projects and to decree that American steel should be used for pipelines built in the United States, according to a report from Reuters. Trump also signed an action to speed up the environmental review and approval of

The Shale Boom in the Permian Is Slowing Down - 360

Concho Resources, Frontier Midstream Sell Alpha Crude Connector System to Plains All American Pipeline for $1.215 Billion

Net Proceeds to Concho of Approximately $800 Million Concho Resources Inc. (ticker: CXO) and Frontier Midstream Solutions, LLC have entered into separate agreements to sell 100% of their respective ownership interests of Alpha Holding Company, LLC, the owner of the Alpha Crude Connector system to Plains All American Pipeline, L.P. (ticker: PAA) for a combined total of $1.215 billion. Tim Leach, Concho’s Chairman, Chief Executive Officer and President, commented, “Our investment

Alaska in Talks to Purchase ConocoPhillips’ Nikiski Kenai LNG Facility

Alaska in Talks to Purchase ConocoPhillips’ Nikiski Kenai LNG Facility

Alaska determined to be an LNG exporter even when the oil and gas companies have bailed Alaska’s KTVA11 reported last night that the Alaska Gasline Development Corporation (AGDC) said in a presentation before the Senate Resources Committee on Monday that it is in discussions with ConocoPhillips (ticker: COP) about purchasing its liquefaction plant in Nikiski. Rosetta Alcantra, an AGDC spokeswoman, told KTVA

Higher OPEC Crude Prices Opening Doors for U.S. Grades in Asia

From Bloomberg: Add Southern Green Canyon and Mars Blend to the growing list of American crude that’s challenging OPEC’s dominance in the world’s biggest oil market. Cargoes of the two varieties produced in the Gulf of Mexico, which are heavier and more sulfurous than supply from U.S. shale fields, are poised to flow into Asia as they turn cheaper relative to

Nigeria Sees Oil Hitting Mid-$60s in Coming Months as OPEC Bites

From Bloomberg: Crude oil prices, hovering around $55 a barrel since early December, will climb by about $10 in the coming months as OPEC-led measures to curb a glut take hold, Nigeria’s oil minister said. “Ultimately, the effects over the next few months will get us to where we want to be, which is in the mid-$60s,” Minister of State for

US oil and gas mergers gained momentum and almost hit $200 billion last year

From CNBC: Mergers across the U.S. oil and gas industry totaled nearly $200 billion in 2016 as crude prices stabilized and major producers agreed to output cuts, a new report from PwC shows. The auditing firm expects the tailwinds that lifted M&A in the final quarters of 2016 to carry through into 2017 and keep the deals flowing. “As we

Court revives investor suit vs. ETP over $11 billion pipeline deal

From Reuters: A Delaware court revived an investor lawsuit against Energy Transfer Partners (ETP.N) over its $11 billion acquisition of Regency Energy Partners in a case focused on protections for investors in master limited partnerships. The Delaware Supreme Court ruled on Friday that pipeline operators Energy Transfer Partners and its indirect parent, Energy Transfer Equity (ETE.N), must face allegations that