Construction has begun on the Fayetteville Express Pipeline, project backers said Monday. The pipeline is a 50/50 joint venture of Energy Transfer Partners LP and Kinder Morgan Energy Partners LP.
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Construction Begins on Fayetteville Express
Construction has begun on the Fayetteville Express Pipeline, project backers said Monday. The pipeline is a 50/50 joint venture of Energy Transfer Partners LP and Kinder Morgan Energy Partners LP.
Industry Brief
Denver-based Delta Petroleum Corp. has retained Morgan Stanley and Evercore Partners to evaluate and advise the board of directors on “strategic alternatives” that may include selling “some or all” of the company’s assets, entering into partnerships or joint venture opportunities, or selling the entire company. Delta said it would not comment until the board has approved a specific transaction or when there are “significant developments.” Delta’s core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production and long-term growth prospects (see Daily GPI, April 8; Dec. 24, 2008; Aug. 28, 2008).
REX Tells FERC 1,700-Mile Pipeline Is Completed
Rockies Express Pipeline LLC (REX) last Thursday asked FERC for authorization to begin service on its REX-East leg between the Lebanon Hub meter station and the Clarington Hub meter station by the end of this week, thereby completing the REX-East project and the entire 1,678-mile pipeline, which links Rocky Mountain natural gas with markets in the Midwest and East.
Kinder Morgan Energy Partners Acquiring Treating Assets
Kinder Morgan Energy Partners LP (KMP) has agreed to acquire the natural gas treating business of Crosstex Energy LP and Crosstex Energy Inc. for approximately $266 million, including working capital. The deal will make KMP the largest provider of contract-provided treating plants in the United States, it said. Sale proceeds will contribute to debt reduction at Crosstex.
Kinder Morgan Energy Partners Picking Up Gas Treating Assets
Kinder Morgan Energy Partners LP (KMP) has agreed to acquire the natural gas treating business of Crosstex Energy LP and Crosstex Energy Inc. for approximately $266 million, including working capital. The deal will make KMP the largest provider of contract-provided treating plants in the United States, it said. Sale proceeds will contribute to debt reduction at Crosstex.
New Investment Bank Targets Alternative Energy, Cleantech
Looking to jump on the “green train” before it leaves the station, a former UBS banker has assembled experts from Goldman Sachs, Citi, Morgan Stanley and Barclays to form Greentech Capital Advisors (GCA), an alternative energy and cleantech-focused investment bank.
New Investment Bank Targets Alternative Energy, Cleantech
Looking to jump on the ‘green train’ before it leaves the station, a former UBS banker has assembled experts from Goldman Sachs, Citi, Morgan Stanley and Barclays to form Greentech Capital Advisors (GCA), an alternative energy and cleantech-focused investment bank.
Transportation Notes
Tennessee reported identifying a leak on the North Odem 3A-100 lateral between Main Line Valve 3 and Station 9 near Odem, TX. The Morgan meter was required to shut in. Tennessee allowed shipper nominations there to remain in place for Friday’s gas day, but said nominations were being taken to zero in the Timely cycle for Saturday until further notice.
Troubled Constellation Pondering Options While Shares Fall Further
Constellation Energy has hired Morgan Stanley and UBS to advise it on “strategic alternatives” and said Wednesday “the company and its advisors are in active discussions with potential strategic partners.” Meanwhile, Constellation shares posted a second day of steep declines, and Standard & Poor’s (S&P) warned of a “multiple-notch” downgrade if the company’s credit position isn’t bolstered.