Buffett Buys Pipeline Improver Business from Phillips 66

Berkshire Hathaway Inc. Monday agreed to pay Phillips 66 an estimated $1.4 billion with stock it already owns in the operator to acquire a pipeline flow improver business.

December 31, 2013

Phillips 66 Planning Gulf Coast LPG Export Terminal

Phillips 66 is planning to expand its midstream business with a liquefied petroleum gas (LPG) export terminal to be built at its existing marine terminal in Freeport, TX, the Houston-based company said.

November 4, 2013

Sandell Pushes Harder for DCP Changes Amid Midstream Dealing

Recent deals in the midstream master limited partnership (MLP) arena have moved activist shareholder Sandell Asset Management to press harder for a new strategy for DCP Midstream LLC (DCP) that he recently proposed.

October 28, 2013
XTO Brings NGL Recovery Facility Online in Pennsylvania

XTO Brings NGL Recovery Facility Online in Pennsylvania

XTO Energy Inc.’s natural gas liquids (NGL) recovery facility in Butler County, PA, has entered service processing wet gas from Marcellus and Utica shale drilling in southwestern Pennsylvania.

June 19, 2013

Industry Brief

The Sand Hills and Southern Hills natural gas liquids (NGL) pipelines have entered service, according to DCP Midstream, Phillips 66 and Spectra Energy Corp., which each own a one-third interest in the pipelines. The 720-mile Sand Hills is transporting NGL from the Permian Basin and Eagle Ford Shale. The 800-mile Southern Hills is transporting NGL from production in the Midcontinent. “DCP Midstream will have an integrated NGL pipeline system, consisting of Sand Hills and Southern Hills as well as our interests in the Front Range and Texas Express pipelines, that connect our gathering and processing systems located in most of the major liquids-rich and oil-driven shale plays to growing Gulf Coast markets,” said DCP Midstream CEO Wouter van Kempen.

June 18, 2013

DCP Midstream Partners Expands in Eagle Ford

Denver-based DCP Midstream Partners LP announced a $626 million dropdown from DCP Midstream of an additional 47% interest in its Eagle Ford joint venture, bringing its ownership to 80%. It’s the largest dropdown in the history of the partnership.

March 4, 2013

Ohio Bill Would Require State Registration of Landmen, Disclosures

Legislators and state government officials in Ohio, as well as industry groups, are discussing a bill that, if enacted, would require oil and natural gas land agents to register with the state and provide homeowners with several disclosure forms.

December 31, 2012

DCP Midstream Doubling Up for DJ Basin Production

DCP Midstream LLC is in the process of doubling its natural gas processing capacity in the Denver-Julesburg (DJ) Basin by the end of 2014 as drilling and completion technologies unlock more gas, the company said.

August 8, 2012

Chevron Phillips Chemical Picks Old Ocean, TX, for Facilities

Chevron Phillips Chemical Co. (CPChem) LP announced Monday that it has selected a site near Old Ocean, TX, in Brazoria County, for two polyethylene facilities, part of the company’s U.S. Gulf Coast Petrochemicals Project.

May 1, 2012

ConocoPhillips Bidding Goodbye to Big Oil — Not Big Plays

Beginning May 1, ConocoPhillips no longer will be among the ranks of the Big Oil integrated producers. Once Phillips 66, the refining and marketing arm, spins off, the Houston-based company will become the leading pure-play explorer in North America — a position it’s ready to handle, incoming CEO Ryan Lance said last week.

April 23, 2012