natural gas

Enterprise Products Partners LP on Wednesday agreed to buy stakes in affiliates of global marine terminal giant Oiltanking GmbH to enhance its crude and petroleum products storage operations on the Texas Gulf Coast.

November natural gas is set to open 5 cents higher Wednesday morning at $4.17 as traders mull the magnitude and duration of expected cold events and technicians note the attempt to break a key resistance level. Overnight oil markets rose as well.

Physical gas for Thursday delivery moved little in Wednesday’s trading with modest losses in California offset by gains in the Northeast and Mid-Atlantic.

Retail natural gas utility charges in Idaho will increase on Wednesday, following action Friday by the state regulatory commission allowing a gas cost adjustment upward for MDU Resources Group’s Boise-based Intermountain Gas Co.

Mammoth Energy Partners LP, an oilfield services provider, is planning to launch an initial public offering (IPO) to raise up to $100 million, according to a filing with the Securities and Exchange Commission. The partnership was formed in early 2014, but it “has not and will not conduct any material business” until the IPO is launched. No details on when the launch would occur were provided. Mammoth is affiliated with Oklahoma City-based Gulfport Energy Corp. and is sponsored by Wexford Capital LP. Mammoth would provide services in Ohio, Oklahoma and Texas. It would begin with 14 drilling rigs, including 11 horizontals. Wexford and Gulfport plan to contribute the assets of seven affiliated companies as subsidiaries: Redback Energy Services LLC, Redback Coil Tubing LLC, Muskie Proppant LLC, Panther Drilling Systems LLC, Bison Drilling & Field Services LLC, Bison Trucking LLC and Great White Sand Tiger Lodging Ltd. Together, the seven companies posted a net loss of almost $14 million on revenue of close to $133 million in 2013, versus a loss of $2 million on revenue of $8 million in 2012.

November natural gas is set to open a penny higher Tuesday morning at $4.16as traders deal with the uncertainty of forecast cold expected later this week. Overnight oil markets inched higher.

Maine Gov. Paul LePage on Monday asked FERC to address electricity prices in New England, which he said are poised to increase 37% this winter compared with winter 2013-2014.

In a move signaling the anticipated growth of U.S. shale gas production, NiSource Inc. announced a plan to take its Columbia Pipeline Group (CPG) public and form a master limited partnership (MLP) capable of handling increasing volumes with more infrastructure investment.

Enterprise Products Partners LP is planning to construct a cryogenic natural gas processing plant and associated midstream infrastructure in Eddy County, NM to serve growing production in the Permian Basin’s Delaware sub-basin.