Targa Resources Corp. has agreed to purchase Blackstone Energy Partners’ 25% interest in Targa’s Grand Prix natural gas liquids (NGL) pipeline for $1.05 billion in cash plus customary working capital adjustments. The transaction, slated to close during the first quarter, would give Houston-based Targa a 100% ownership position in the 1.0 million b/d capacity pipeline.…
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EnLink Eyeing CCUS in Louisiana, Boosting Guidance on Stronger Natural Gas, Oil Prices
Dallas-based EnLink Midstream LLC has increased its earnings guidance for 2021 amid strengthening natural gas and oil prices, with an eye on expanding operations and lowering carbon emissions. “We are pursuing exciting growth opportunities in the Permian and Louisiana, as well as experiencing improved activity in Oklahoma and North Texas,” CEO Barry E. Davis said.…
Taproot Adding More Oil Infrastructure in DJ
Denver-based Taproot Energy Partners LLC said its midstream affiliate plans to construct an oil gathering pipeline at its Platte River property in the Denver-Julesburg (DJ) Basin for Confluence Resources LP. Taproot, which plans to have the project in service by July 1, said it now has more than 325,000 dedicated acres from five separate producers. …
UGI’s Stonehenge Pays $205M for Pine Run Midstream
Pine Run Gathering LLC, a joint venture owned by subsidiaries of Stonehenge Energy Resources III LLC and UGI Energy Services LLC (UGIES), has completed a transaction to acquire Pine Run Midstream LLC for $205 million. The acquisition is from Pittsburgh-based independent PennEnergy, an anchor customer on the Pine Run system. Pine Run Midstream currently operates…
Uncertainty Clouds Future of Canada’s NGTL System
The Canadian natural gas industry faces “a high degree of uncertainty,” according to TC Energy Corp.’s supply collection grid in Alberta and British Columbia (BC), Nova Gas Transmission Ltd. (NGTL). Political and economic risks jeopardize up to C$3 billion ($2.3 billion) of additions that the pipeline network would build if the industry fulfilled its potential,…
Pinnacle Greenlights Permian Natural Gas Gathering System with ‘Expansion in Mind’
Pinnacle Midstream II LLC has sanctioned a new-build natural gas gathering and compression system in the Permian Basin anchored by a 15-year gathering, processing and purchasing agreement with Doublepoint Energy LLC. The Dos Picos gathering system in the Midland sub-basin of West Texas is expected to enter service in the second quarter of 2021, Pinnacle…
Williams, Chesapeake Clinch Natural Gas Gathering Pact for Eagle Ford, Haynesville, Marcellus and Midcontinent
Tulsa-based Williams has reached a global resolution with one of its biggest customers, bankrupt Chesapeake Energy Corp., to continue to treat and move its natural gas in the Lower 48. Chesapeake filed for Chapter 11 bankruptcy protection in June to wipe out $7 billion of debt. As part of the auction process, Chesapeake last week…
Anticipating Growth, UGI Buys NatGas Gathering System in Pennsylvania
UGI Energy Services LLC has acquired a 60-mile-plus natural gas gathering system that spans three counties of Pennsylvania in the Marcellus Shale northern tier from upstart Rockdale Marcellus LLC for an undisclosed amount.
Evolution Midstream Buying Natural Gas System in Wyoming PRB
Denver-based Evolution Midstream LLC is buying the Rowdy natural gas gathering system in Wyoming’s Powder River Basin (PRB) from Dallas-based Lucid Energy Group. The price was not disclosed. Closing is expected July 1.