Midstream

Bankruptcies Accelerating in North American Oil Patch, with More Carnage Said Likely

Bankruptcies Accelerating in North American Oil Patch, with More Carnage Said Likely

Bankruptcies in the North American oil patch “have substantially picked up pace” so far in 2020, due largely to the impact of Covid-19 on prices and demand, according to a new report published Tuesday by Haynes and Boone LLP. The Dallas-based international corporate law firm has been tracking bankruptcy filings in the exploration and production…

August 11, 2020
Targa Resources Upbeat About Resiliency of Permian Midland’s Natural Gas Volumes

Targa Resources Upbeat About Resiliency of Permian Midland’s Natural Gas Volumes

Targa Resources Corp.’s gathering and processing (G&P) volumes in the Permian Basin held steady in the second quarter, despite shut-ins, as producers remained active, with volume growth expected to the end of the year. The Houston-based midstream operator noted strength in the Permian’s Midland sub-basin in West Texas, where natural gas inlet volumes advanced sequentially.…

August 7, 2020
Cost Cuts Bolster Profits for Lower 48 Operators Enable, EnLink

Cost Cuts Bolster Profits for Lower 48 Operators Enable, EnLink

Aggressive cost-cutting helped prop up the bottom lines in the second quarter of two big Lower 48 midstream operators, Enable Midstream Partners LC and EnLink Midstream LLC, and expense control remains a high priority amid the shocks of the coronavirus pandemic and the demand destruction it created. Oklahoma City-based Enable said it moved swiftly to…

August 6, 2020
Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q

Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q

Crestwood Equity Partners LP is taking a three-pronged approach to ensuring its Bakken Shale customers are able to move their crude oil volumes to market in the event that the Dakota Access Pipeline (DAPL) shuts down, either temporarily or permanently. On the second quarter earnings call held Tuesday, CEO Bob Phillips said the commercial and…

August 5, 2020
MPLX Advancing Permian Takeaway Projects, Appealing Review for Bakken Crude Pipeline

MPLX Advancing Permian Takeaway Projects, Appealing Review for Bakken Crude Pipeline

MPLX LP has secured financing for the almost fully committed Whistler natural gas pipeline to transport supplies from the Permian Basin’s Waha hub to the Agua Dulce market in South Texas. On the second quarter earnings call held Monday, CEO Michael Hennigan said the lower capital spend related to the financing was already factored into…

August 4, 2020
U.S. Midstream Answers to Regulatory, Legal Challenges in Focus as 2Q Results Unfold

U.S. Midstream Answers to Regulatory, Legal Challenges in Focus as 2Q Results Unfold

The recent legal and regulatory setbacks for a handful of U.S. pipeline companies, as well as the uncertain outlook in oil and natural gas demand from Covid-19, may come more sharply into view as midstream second quarter earnings are unveiled. “Earnings season is about much more than the quarterly results, and this go-round will be…

July 22, 2020
PHMSA Sides with North Dakota, Montana in Crude-by-Rail Dispute with Washington State

PHMSA Sides with North Dakota, Montana in Crude-by-Rail Dispute with Washington State

Federal regulators have concluded that rules for transporting oil preempt a state of Washington rule for screening interstate crude-by-rail shipments from North Dakota and Montana. The Department of Transportation’s U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said the applicable federal law preempts Washington’s vapor pressure limit for oil loaded or unloaded from rail tank…

July 21, 2020
New Mexico Targeting 98% Methane Capture from Oil, Natural Gas Operations in Six Years

New Mexico Targeting 98% Methane Capture from Oil, Natural Gas Operations in Six Years

New Mexico authorities on Monday published two separate sets of draft rules aimed at curbing methane emissions from oil and natural gas operations. The Energy, Minerals and Natural Resources Department (EMNRD) unveiled what it called “New Mexico’s first comprehensive methane regulations,” which propose 98% natural gas capture from the oil and gas industry by the…

July 21, 2020
Oil, Gas Environmental Partnership Expands to Include Pipeline Companies

Oil, Gas Environmental Partnership Expands to Include Pipeline Companies

The Environmental Partnership, a coalition of oil and natural gas producers formed to accelerate improvements to environmental performance in U.S. onshore operations, said Wednesday it has expanded its membership to midstream companies. The addition of pipeline companies has more than tripled the organization’s membership to 83 participants. The Environmental Partnership was formed in December 2017.…

July 16, 2020
Trump Administration’s NEPA Update to Limit Federal Infrastructure Review for Natural Gas, Oil Pipelines and More

Trump Administration’s NEPA Update to Limit Federal Infrastructure Review for Natural Gas, Oil Pipelines and More

The White House’s Council on Environmental Quality (CEQ) on Wednesday announced a final rule updating the National Environmental Policy Act (NEPA) regulations, a controversial move designed to limit reviews of proposed infrastructure projects, including natural gas and oil pipelines. The final rule would modernize environmental reviews, streamline infrastructure approvals and “reverse years of burdensome overregulation…

July 16, 2020
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