Midstream

Targa Strikes $3.5B Deal to Buy Lucid, Expand Permian Delaware Footprint

Targa Strikes $3.5B Deal to Buy Lucid, Expand Permian Delaware Footprint

Houston-based Targa Resources Corp. has clinched an agreement to buy Lucid Energy Group’s Permian Basin Delaware natural gas processing business, which would add 1,050 miles of pipeline and 1.4 Bcf/d of capacity.The all-cash deal for Lucid Energy Delaware LLC, valued at $3.55 billion, was reached with sponsors Riverstone Holdings LLC and Goldman Sachs Asset Management.…

June 17, 2022
Matador Building Permian Midstream Portfolio to Ensure Natural Gas Takeaway

Matador Building Permian Midstream Portfolio to Ensure Natural Gas Takeaway

Matador Resources Co. has agreed to purchase Summit Midstream Partners LP’s Lane natural gas gathering and processing (G&P) system in New Mexico’s Eddy and Lea counties for $75 million. In connection with the deal, Matador “will assume certain takeaway capacity on the Double E pipeline, a FERC-regulated natural gas pipeline operated by Summit,” the Dallas-based…

June 13, 2022
Canes Midstream Snaps Up Sizeable Permian Midland Asset Package

Canes Midstream Snaps Up Sizeable Permian Midland Asset Package

Private equity-backed Canes Midstream LLC said Wednesday it has closed on its acquisition of Permian Basin midstream firm Cogent Midstream LLC. Located in the southern portion of the Permian’s Midland sub-basin, the Cogent assets include 520 MMcf/d of natural gas processing capacity, over 800 miles of pipelines, 42 compressor stations, a crude oil gathering system,…

May 27, 2022
Crestwood Doubling Permian Delaware Processing Footprint with Sendero Acquisition and Exiting Barnett

Crestwood Doubling Permian Delaware Processing Footprint with Sendero Acquisition and Exiting Barnett

Crestwood Equity Partners LP announced a trio of transactions to more than double its natural gas processing capacity in the Permian Basin’s Delaware formation, and to divest its position in the Barnett Shale. The largest of the three deals would see Crestwood acquire Sendero Midstream Partners LP for $600 million. Located entirely in Eddy County,…

May 26, 2022
Rangeland Scoping Out Midstream Assets with EnCap Commitment

Rangeland Scoping Out Midstream Assets with EnCap Commitment

Midstream infrastructure operator Rangeland Energy has formed a portfolio company to pursue acquisitions and projects in conventional and unconventional natural gas and oil plays, along with “decarbonization” opportunities in North America. Rangeland, based near Houston in Sugar Land, formed Rangeland Energy IV after securing a $300 million equity commitment from EnCap Flatrock Midstream. “Rangeland IV…

May 12, 2022
Energy Transfer Building Export Options Via Haynesville, Permian for LNG and Lots of Liquids

Energy Transfer Building Export Options Via Haynesville, Permian for LNG and Lots of Liquids

With customer demand growing, Energy Transfer LP’s management team is confident that the Lake Charles, LA, natural gas export project will be sanctioned before the end of the year. During the recent first quarter conference call, Co-CEO Tom Mason said “we’re really excited about where we are today” regarding the pending liquefied natural gas (LNG)…

May 11, 2022
Sense of Reactivation in Mexico Oil and Gas, Industry Leader Says

Sense of Reactivation in Mexico Oil and Gas, Industry Leader Says

After a down period in the Mexico oil and gas industry, exacerbated by the Covid-19 pandemic, there’s a renewed push for exploration and drilling activity given the elevated hydrocarbon price environment, Marco Cota, CEO and founder of Talanza Energy, told NGI’s Mexico GPI. “We’re seeing a lot of drilling plans for this year and next…

May 6, 2022
Enterprise’s Teague Calls for Unleashing U.S. Oil, Gas Production to Lead World from Russia

Enterprise’s Teague Calls for Unleashing U.S. Oil, Gas Production to Lead World from Russia

Houston’s Enterprise Products Partners LP has a bundle of projects in the queue to expand Lower 48 natural gas, liquids and refined projects to serve domestic and overseas demand, the executive team said Monday. Seven projects are being constructed to expand processing, capacity and takeaway from Louisiana, New Mexico, Texas and beyond. Permian Basin natural…

May 2, 2022
Crestwood Riding High on Strong Commodity Prices, Oasis Midstream Acquisition

Crestwood Riding High on Strong Commodity Prices, Oasis Midstream Acquisition

Crestwood Equity Partners LP said its acquisition of Oasis Midstream Partners LP, coupled with robust natural gas and oil prices, helped it drive strong first-quarter results. The Houston-based company expects continued momentum. It said key gathering and processing assets leveraged to higher producer activity in the Williston, Delaware and Powder River Basins in the second…

May 2, 2022
Kinder Morgan Eyeing 1.2 Bcf/d in Permian Natural Gas Takeaway Expansions

Kinder Morgan Eyeing 1.2 Bcf/d in Permian Natural Gas Takeaway Expansions

Kinder Morgan Inc. (KMI) is planning compression expansions on its Permian Highway Pipeline (PHP) and Gulf Coast Express (GCX) natural gas pipelines in order to alleviate takeaway constraints in the Permian Basin expected to mount by 2023. “Combined, the two expansions can add 1.2 Bcf per day of capacity out of the Permian,” CEO Steven…

April 21, 2022
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