Ngl

Natural gas midstream company Oneok Inc. on Monday announced that it has agreed to purchase Magellan Midstream Partners LP for $18.8 billion, giving the Tulsa-based firm entry into the transportation of crude oil and refined products. Under the deal, Oneok would acquire all outstanding units of Magellan in a cash-and-stock transaction, resulting in a combined…

Williams capitalized on heightened natural gas price volatility and recorded all-time high gathering volumes during the first quarter, countering the unfavorable impacts of a harsh winter on its gathering system in the West. Management credited the success of marketing arm Sequent Energy Management LP, purchased in 2021, in optimizing the assets in its base business.…

Enterprise Product Partners LP has $3.6 billion of assets scheduled to begin commercial operations this year to expand natural gas, liquids and crude oil systems across the United States, with almost $2 billion more rolling off the boards through 2025, executives said Wednesday. Co-CEOs Jim Teague and Randy Fowler shared a microphone with the executive…

Outrigger Energy II LLC has completed the sale of its midstream system in Weld County, CO, to Summit Midstream Partners LP. Summit Midstream previously said the deal was worth about $305 million total in cash. Outrigger’s Denver-Julesburg (DJ) Basin system includes a 60 MMcf/d cryogenic natural gas processing plant with product deliveries to the Cheyenne…

Management at Magnolia Oil and Gas Corp. said sticking to the South Texas-focused independent’s game plan resulted in an exceptional second quarter. CEO Steve Chazen said Magnolia, in its fourth year as a publicly held exploration and production (E&P) company, operates on a tried-and-true business model. “We have consistently executed our strategy, which prioritizes disciplined…

Appalachian Basin pure-play Antero Resources Co. is betting on continued high natural gas prices, driven by a “structural shift” in the relationship between U.S. prices and storage levels, CEO Paul Rady said last week. “The primary driver behind this shift is the supply side,” Rady told analysts during a call to discuss first quarter earnings.…

Houston’s Enterprise Products Partners LP has agreed to acquire Navitas Midstream Partners LLC for $3.25 billion, giving the giant partnership an entry point in the Permian Basin of West Texas and an additional 1 Bcf/d of natural gas processing capacity. The agreement to acquire Navitas, headquartered north of Houston in The Woodlands, could be completed…

Plans for an underground natural gas liquids (NGL) storage facility in Ohio seen as key to the region’s petrochemical build-out have moved another step closer to reality as the backer of a multi-billion dollar ethane cracker has signed a preliminary agreement to further its development.   Energy Storage Ventures LLC (ESV) and an affiliate of Thailand’s…

A corporate team from Calgary, Tulsa and New York City on Tuesday announced a C$1.3 billion ($975 million) plan to complete by first-half 2022 a pair of natural gas liquids (NGL) pipelines for growing Alberta production.