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DCP Taking ‘Conservative’ Approach to 2021 Volumes and Commodity Pricing

DCP Taking ‘Conservative’ Approach to 2021 Volumes and Commodity Pricing

Executives at Denver-based DCP Midstream LP said during their fourth quarter earnings call that they were committed to cost reductions, retiring debt and growing excess free cash flow in 2021. In 2020, “We were able to navigate a double black swan event that eviscerated demand, plunged oil prices into negative territory and fundamentally changed the…

February 18, 2021
Regulators Deny Permit for $2B Methanol Project in Washington

Regulators Deny Permit for $2B Methanol Project in Washington

After a third environmental assessment, the Washington Department of Ecology has denied a shoreline permit for a China-backed, $2 billion-plus natural gas-fed methanol plant that would be sited along the Columbia River. Project sponsor Northwest Innovation Works (NWIW) has until Feb. 9 to appeal the ruling made last Tuesday. Chief Development Officer Vee Godley said…

January 21, 2021
BWC Boosts Gulf Coast Liquids Storage Assets with Texas City Terminals Purchase

BWC Boosts Gulf Coast Liquids Storage Assets with Texas City Terminals Purchase

BWC Terminals is expanding its presence on the Gulf Coast, completing the $106 million acquisition of liquid storage assets in Texas City, TX. Houston-based BWC, a provider of bulk liquid storage and logistics services with terminals across 13 states in North America, purchased the Texas City terminal from NuStar Energy LP. The acquisition complements BWC’s…

December 9, 2020
Energy Transfer Converting Portion of Mariner East, Expects DAPL to Continue Operating

Energy Transfer Converting Portion of Mariner East, Expects DAPL to Continue Operating

Energy Transfer LP (ET) is in the process of converting a portion of the Mariner East natural gas liquids (NGL) pipeline to refined products to capture price blowouts between Chicago and New York markets this winter. Newly named Co-CEO Mackie McCrea told investors during the third quarter earnings call last Wednesday the repurposed portion of…

November 6, 2020
Mountaineer NGL Storage Pulls Key Ohio Permits, But Project Still Moving Ahead

Mountaineer NGL Storage Pulls Key Ohio Permits, But Project Still Moving Ahead

An underground natural gas liquids (NGL) storage project in Ohio — seen as key to the Appalachian Basin’s petrochemical buildout — has hit another snag as its backers have withdrawn their permits in the face of a lawsuit from environmental groups.  The Ohio Department of Natural Resources (ODNR) last week cancelled three permits to drill…

September 29, 2020
Matador Doubles Up Permian Natural Gas Processing Capacity in New Mexico

Matador Doubles Up Permian Natural Gas Processing Capacity in New Mexico

Dallas-based independent Matador Resources Co. and midstream affiliate San Mateo Midstream have ramped up an expansion at the Black River cryogenic natural gas processing plant in Eddy County, NM, to serve the Permian Basin Delaware.  The 200 MMcf/d expansion at the San Mateo facility brings total incremental design inlet capacity to 460 MMcf/d. The expansion…

September 3, 2020
Mexico Poised to Ramp Up Ethane Imports Amid Insufficient Local Supply

Mexico Poised to Ramp Up Ethane Imports Amid Insufficient Local Supply

Mexico will need to build out infrastructure to import ethane in order to keep its petrochemicals industry afloat amid insufficient domestic natural gas production, according to local experts. President Andrés Manuel López Obrador’s recent call to renegotiate or even cancel an ethane supply agreement between state oil company Petróleos Mexicanos (Pemex) and the Etileno XXI…

August 27, 2020
U.S. Midstream Results in 2Q Showed Volume Resiliency, Commitment to Capex Curbs

U.S. Midstream Results in 2Q Showed Volume Resiliency, Commitment to Capex Curbs

U.S. midstream management teams doubled down on cost cuts and reduced capital expenditures (capex) during second quarter earnings season. However, many also struck generally optimistic tones about improving volumes and a gradual recovery from the energy slump imposed by the coronavirus pandemic. Overall, “the messaging was really good, particularly around considerably less capex going forward,…

August 20, 2020
EIA Says U.S. Ethane Production to Grow at Steady Clip Through 2021

EIA Says U.S. Ethane Production to Grow at Steady Clip Through 2021

A rebound in demand for ethane as a key feedstock for petrochemical manufacturing should fuel production growth through 2021, according to the Energy Information Administration (EIA). EIA forecasted in its August Short-Term Energy Outlook that ethane production would exceed 2 million b/d by the fourth quarter. That would mark a 9% increase from the start…

August 14, 2020
North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

North American Midstreamers Enterprise, Enbridge Find Success Beyond Liquids in Strong Quarterly Results

The diversified systems of two of North America’s largest midstream companies were positioned for a solid second quarter in which lower oil volumes were partially offset by strength in natural gas, natural gas liquids (NGL) and storage. Enterprise Products Partners LP (EPD) and Enbridge Inc. reported second quarter results on Wednesday, with each company highlighting…

July 30, 2020
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