By Tyler Losier, Energy Reporter, Oil & Gas 360 Magellan Midstream prices $500 million of its 3.950% senior notes due 2050 Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950% senior notes due 2050 at 99.910% of par to yield 3.955% to maturity. Proceeds from the offering, after deducting underwriting
From U.S. News and World Report Oil drillers are burning off vast quantities of natural gas because it’s not profitable enough to capture and bring to market. Producers in the Peace Garden State flared 527 million cubic feet of gas per day, according to figures from 2017 first reported in The Bismarck Tribune. North and South Dakota, meanwhile, consumed about 530
From Reuters NEW YORK/VANCOUVER (Reuters) – U.S. East Coast oil refiners are ramping up rail deliveries of crude from Western Canada, grabbing stranded barrels that full pipelines have driven to a record discount. That trend is expected to accelerate, as prices will remain weak, with no new Canadian export pipelines expected until late 2019. Rail volumes from Canada to East
Firms sees price levels high enough to facilitate full U.S. LNG utilization Fears about an oversupplied liquefied natural gas (LNG) market are beginning to ease as indications point towards a more modest rebalancing, according to consultancy Wood Mackenzie in its LNG short-term trade and price outlook for Q2. WoodMac VP Massimo Di Odoardo said that record demand from China absorbed
Except for a small drop in the amount of oil produced in 2016, with return to the upswing in 2017, American production has been on a steady increase ever since 2008. Even during the 2014-2016 price crash, U.S. E&Ps hunkered down, strengthened their balance sheets, made technological leaps and kept on producing oil and gas—without depending on the reappearance of
Inventory declines have brought prices to three-year highs The International Energy Agency (IEA) released its monthly Oil Market Report today, outlining the group’s analysis of the overall oil market. In March 2018, OECD stocks declined by 27 million barrels to 2,819 million barrels – 214 million barrels below year-ago levels. This is the lowest level in three years, the IEA
The oil and gas sector in Texas remained strong through March according to the Dallas Fed’s new report. Prices for WTI crude oil rose slightly in March, staying close to $63 per barrel and oil production in the Permian Basin and Eagle Ford rose again. Employment spiked up in February and is at its highest level since late 2015, while
Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer With U.S. shale on a tear, imports are dropping Total U.S. crude production reached 10 MMBOPD in November 2017 and the Canadian Industrial Outlook report from The Conference Board of Canada estimates that U.S. production will pass 11 MMBOPD in
Severe temperatures and extreme prices push FERC toward pipeline approval; will bring Marcellus gas to Pa., NJ customers According to PennEast Pipeline Company LLC, the Federal Energy Regulatory Commission (FERC) recognized the need for and the public benefit of the PennEast pipeline and issued an order on January 19, 2018, under section 7(c) of the Natural Gas Act – approving
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