Kinder Morgan Energy Partners LP (KMP) and Phillips 66 on Thursday announced an agreement for Kinder Morgan to transport Eagle Ford crude and condensate to Phillips 66’s Sweeny Refinery in Brazoria County, TX, which will necessitate the construction of a $90 million, 27-mile, 12-inch diameter lateral pipeline to extend its Kinder Morgan Crude Condensate (KMCC) pipeline, along with related infrastructure.
Articles from Expects
Low natural gas prices have created a buying opportunity among dry gas-directed companies for larger players whose pockets are lined with oil dollars, according to consultancy Deloitte. And in the midstream, mergers and acquisitions (M&A) will be propelled by a consolidation trend among master limited partnerships (MLP), according to a midyear report on M&A activity.
The company said it expects a pick-up in merger and acquisition activity on the regulated side in the second half, as well as more activity on the unregulated power side due to continued low natural gas prices.
Encana Corp. plans to continue to keep its eye on the “highest-return plays” in North America, which for the near term means more liquids and oil development and no natural gas drilling, CEO Randy Eresman said Wednesday.
Range Resources Corp. CEO Jeff Ventura said Wednesday the company’s Marcellus Shale leasehold may have the long-term potential for 24-30 Tcf of reserves.
McMoRan Exploration Co., whose upstream spending has been eaten up by exploration activity in the shallow waters of the Gulf of Mexico (GOM), expects commercial production from the highly touted Davy Jones natural gas prospect to be in motion later this month.
Noting the continuing downward spiral of forward natural gas prices during the past four years, Fitch Ratings said it expects continued weakness in gas prices to spell potential trouble for many U.S. independent electricity generators. Fitch on Thursday released a report on U.S. power markets and generators.
Nabors Industries Ltd., North America’s largest onshore drilling contractor, expects operating results in the second quarter to fall below Wall Street expectations, primarily because of a slump in pressure pumping services and higher operations costs. To improve efficiencies, the company plans to consolidate its U.S. well servicing and pressure pumping operations.
McMoRan Exploration Co., whose upstream spending has been eaten up by exploration activity in the shallow waters of the Gulf of Mexico (GOM), now expects commercial production from the highly touted Davy Jones natural gas prospect to be in motion late this month.