American Energy Partners LP and private equity manager The Energy & Minerals Group have formed American Energy-Midstream LLC to focus on investing in and developing oil and gas infrastructure in basins across the country. The new company said it will focus on building a portfolio of gathering and processing systems and long-haul pipelines aimed at serving American Energy affiliates in the Appalachian Basin, the Permian Basin and the Midcontinent. The move comes after months of American Energy acreage acquisitions since it was founded by Aubrey McClendon in April 2013, including a buying spree earlier this month in which it spent $4.25 billion to expand its Utica Shale footprint and enter both the Permian Basin and southern Marcellus Shale in West Virginia (see Shale Daily,June 9). The deal also marks the latest in a series of investments, mergers and initial public offerings in the midstream sector (see Daily GPI, June 16;Feb. 14).
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Bulls Back In the Saddle Following Lean Storage Report
Natural gas futures surged following the release of government storage figures that were on the low side of what the market was expecting.
Futures Mega-Move Not a Game-Changer, Yet; July Vaults 25 Cents, Cash Eases
Physical prices for Friday delivery slipped lower in Thursday’s trading as most cash transactions were concluded before the release of government storage data. How quickly things change. Futures market followers Wednesday saw the third decline for the week and were thinking that a lack of summer heat and bountiful production could pressure prices lower.
AGA Develops Voluntary Utility Guidelines to Further Reduce Emissions
Natural gas utilities in the United States have already taken steps to reduce emissions from their systems through upgrades and modernization, but more can be done, according to American Gas Association (AGA) Chairman Gregg Kantor, who is also CEO of NW Natural.
Berkshire Hathaway Investing More Into Energy ‘As Far As the Eye Can See,’ Says Buffett
Berkshire Hathaway Inc., which owns stakes in North American pipelines, railroads, utilities and oil and gas producers, plans to double its U.S. investments in renewables and continue to take bets on oil and gas reserves, pipelines and transport, Chairman Warren Buffett said this week.
Enterprise Picks Houston Ship Channel for Ethane Terminal
Enterprise Products Partners LP will build its recently announced ethane export facility on the Houston Ship Channel, the partnership said Wednesday.
Cash, Futures Join in Broad Decline; July Off 2 Cents
Physical natural gas for delivery Thursday slipped lower Wednesday, with most points dropping about a nickel to a dime. Next-day prices on New England pipes fell the most after posting $1.00-plus gains in Tuesday’s trading. Isolated strength was seen at Marcellus points, and gas at Mid-Atlantic points fell more than a dime.
Former Baker Execs Lead New North American Oilfield Services Company
A former Baker Hughes Inc. executive is heading up the launch of a North American oilfield services provider that was created by merging four U.S. and Canadian operators.
Environmental Group Derides Sunoco Unit for Pipeline Strategy
An environmental group says Sunoco Logistics Partners LP is trying to circumvent local zoning ordinances in Pennsylvania by applying for an exemption with the Pennsylvania Public Utility Commission (PUC) for its Mariner East pipeline.
Lower 48 Production to Near 70 Bcf/d in 2015, EIA Says
Total U.S. natural gas marketed production will grow by an average rate of 4.0% this year to 73 Bcf/d and 1.3% in 2015 to 73.97 Bcf/d, with onshore production increases in the Lower 48 states more than offsetting declines from the Federal Gulf of Mexico (GOM) and Alaska, according to the Energy Information Administration’s latestShort-Term Energy Outlook.
