Million

BridgeTex Pipeline Co. LLC, which is owned 50/50 by Magellan Midstream Partners LP and Plains All American Pipeline LP, is expanding its current capacity from the Permian Basin of 300,000 b/d to 400,000 b/d. Expansion capacity is expected to be available in the second quarter following enhancements to existing pumps and related equipment. The 20-inch diameter BridgeTex system transports Permian crude oil from Colorado City, TX, to the Houston Gulf Coast area. Beginning early in the second quarter, a new origin point at Bryan, TX, which is 100 miles northwest of Houston, will begin operations to accept shipments from the Eaglebine region for delivery to Houston.

Canadian natural gas producers have been granted a liquid byproduct growth entitlement with a lifespan of up to a quarter-century. The third propane export license granted by the National Energy Board (NEB) raised the total volume allowed for foreign sales over 25 years to 1.6 billion bbl to be shipped out at a brisk pace of as much as 222,000 b/d.

North American completions expert C&J Energy Services Inc. on Friday emerged from Chapter 11 after completing a restructuring that eliminated $1.4 billion of debt. However, Rockies-focused exploration and production company Bonanza Creek Energy Inc. has filed a prepackaged bankruptcy plan as it too moves to reduce its debt obligations.

The province of Ontario in Canada at year-end committed $200-$270 million to clean transportation, including its commercial trucking industry, for technology investments that will reduce the carbon emissions from heavy-duty trucks, and natural gas vehicles (NGV) comprise one of the major focuses for the program.

After two years of weaning off triple-digit prices by emphasizing cost control, Alberta bitumen output is on the rise, increasing Canadian natural gas consumption as well as sustaining strong oil exports.

Tellurian Investments Inc. has attracted another investor to its mid-scale Driftwood LNG terminal proposed for Louisiana with the addition of France’s Total. Total is acquiring a 23% stake in Tellurian at $5.85/share for $207 million, further signaling a rising interest in LNG among major producers, analysts said.

Chesapeake Energy Corp. said Tuesday that it has agreed to the second of two planned divestitures of noncore assets in the Haynesville Shale, selling 41,500 net acres to an affiliate of Dallas-based Covey Park Energy LLC for $465 million.

Permian Basin pure-play Diamondback Energy Inc. late Wednesday agreed to acquire Brigham Resources affiliates in a deal valued at $2.43 billion, handing the Midland, TX-based independent another 76,319 net acres in West Texas and boosting its total leasehold to 182,000 net acres.

Extraction Oil & Gas Inc. said it has agreed to sell more than 25 million shares of its common stock in a private placement for $457 million in gross proceeds, which it will use to replenish its coffers after closing on two separate deals to acquire acreage in the Denver-Julesburg (DJ) Basin in Colorado for $177 million.