Thursday, March 13, 2025

Wells Fargo Orders Top Execs to Pay Back $75 Million after Accounts Scandal Report

From the Los Angles Times In a long-anticipated report released Monday, Wells Fargo & Co. pinned the blame for its unauthorized-accounts scandal on weak corporate oversight, an unwatchful former CEO and the executive who led the bank’s community banking division. The San Francisco bank also said it would take back more than $47 million in pay from the former community

A Bankruptcy of Nuclear Proportions

From Stratfor In any given year, a handful of companies file for Chapter 11 bankruptcy in the United States. Rarely, however, does one of these filings reverberate beyond the boardroom and into the realm of geopolitics. Those that do — Lehman Brothers in 2008, or the “Big Three” U.S. automakers in 2008-10 — usually involve hundreds of billions of dollars.

Noble Midstream Partners and Plains All American Close Delaware Basin Acquisition

Noble Midstream Partners LP (ticker: NBLX) and Plains All American Pipeline, L.P. (ticker: PAA) announced the completion of the Advantage Pipeline, L.L.C. acquisition for $133 million through a newly formed 50/50 joint venture. Noble Midstream contributed $66.5 million of cash, funded by available cash on hand and their credit facility, and Plains contributed approximately 1.3 million PAA units and $26.3 million of cash.

American Midstream Partners Places Midla Natchez Pipeline in Service

American Midstream Partners, LP (ticker: AMID) announced that one of its subsidiaries has received approval from the Federal Energy Regulatory Commission to place the Midla Natchez Pipeline into service. Approval to construct the Pipeline was granted in December 2015. The 55-mile, 12-inch Pipeline extends from Winnsboro, Louisiana to Natchez, Mississippi with capacity to deliver 50,000 dekatherms/day. The Pipeline is supported

Enable Midstream Announces Pipeline Expansion Serving Anadarko Basin Volume Growth

Enable Midstream Partners, LP (ticker: ENBL) announced that its wholly-owned subsidiary, Enable Gas Transmission, LLC (ticker: EGT), has entered into a 205,000 Dth/d firm natural gas transportation agreement with Newfield Exploration Company (ticker: NFX), a top producer in the growing SCOOP and STACK plays. The 10-year contract is associated with EGT’s recently announced Cana and STACK Expansion (CaSE) project and

Enterprise Products Partners to Build Ethylene Storage, Pipeline Projects

From Houston Business Journal Houston-based Enterprise Products Partners LP (ticker: EPD) has announced two projects centered around the Houston-area’s midstream ethylene infrastructure. The first is a modification to one of its existing storage facilities, according to a press release. Enterprise will repurpose a Mont Belvieu, Texas, storage well to be able to draw in or release ethylene at a rate