Plains All American Pipeline LP (PAA) is constructing the Cactus Pipeline, a 310-mile, 20-inch diameter crude oil pipeline from McCamey to Gardendale, TX. It is expected to enter service during the first quarter of 2015. The partnership said it has a long-term agreement for a majority of the pipeline’s capacity and is talking with other potential shippers. The pipeline is expected to cost $350-375 million and transport both sweet and sour crude oil from the Permian Basin to the PAA/Enterprise Products Partners Eagle Ford Joint Venture (Eagle Ford JV) Pipeline. The Eagle Ford JV Pipeline directly serves the Three Rivers and Corpus Christi markets and can supply the Houston-area market through a connection to the Enterprise South Texas Crude Oil Pipeline. Crude oil delivered on Cactus will have access to rail loading capacity at PAA’s Gardendale station and access to the Eagle Ford JV barge dock facility in the Corpus Christi area. Initial capacity will be about 200,000 b/d.
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Pension Fund Wants Chesapeake Board Members Out
Chesapeake Energy Corp. shareholders are being urged by the manager of a group of New York City pension funds to vote against the only two board members up for reelection this year for failing to monitor financial activities of CEO Aubrey McClendon.
Low Gas Prices Not Forever, ConocoPhillips Exec Says
Don’t like today’s low natural gas prices? Hang on, they will change, eventually, ConocoPhillips Gas & Power’s Jim Duncan, manager of market research, told a Houston audience last week.
Low Gas Prices Not Forever, ConocoPhillips’ Jim Duncan Says
Don’t like today’s low natural gas prices? Hang on, they will change, eventually, ConocoPhillips Gas & Power’s Jim Duncan, manager of market research, told a Houston audience Thursday.
Gas Rig Decline Does Not Equal Immediate Production Decline, ConocoPhillips Exec Says
Don’t like today’s low natural gas prices? Hang on, they will change, eventually, ConocoPhillips Gas & Power’s Jim Duncan, manager of market research, told a Houston audience Thursday.
Investor Coalition: Progress Being Made in Fracking Transparency
An investment manager organization that leads a coalition of shareholder advocacy groups for social and environmental issues says progress has been made in the third year of its quest to convince natural gas operators to be more forthcoming over how they are managing the risks associated with hydraulic fracturing (fracking).
Investor Coalition Sees Progress in Fracking Transparency
An investment manager organization that leads a coalition of shareholder advocacy groups for social and environmental issues says progress has been made in the third year of its quest to convince natural gas operators to be more forthcoming over how they are managing the risks associated with hydraulic fracturing (fracking).
EQT Readies Midstream Spin-Off
EQT Midstream Partners LP, a unit of Appalachian producer EQT Corp., is preparing to launch a public offering as a master limited partnership (MLP). The initial public offering (IPO) is expected to raise up to $250 million.
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Rapid City, SD-based Black Hills Corp. has named John Benton vice president and general manager of the energy holding company’s oil and gas production unit, Black Hills Exploration & Production. Benton is replacing John Vering, a Black Hills board member who has served as interim CEO of the E&P unit and will return to his board position. With bachelor’s and master’s degrees in petroleum engineering from Colorado School of Mines, Benton comes to Black Hills from Rex Energy Corp., where he headed development of the company’s Niobrara acreage in Wyoming and Colorado.
Marcellus Producers Struggle to Manage Ethane
The rich gas corridor of the Marcellus Shale is attracting producers even at low natural gas prices, but while most natural gas liquids (NGL) command a premium in the Northeast, the lack of ethane markets in the region is a challenge, according to several industry players.
