Enbridge Energy Partners LP’s North Dakota crude oil pipeline system has been underutilized since November due to increasing competition from rail and other pipeline transport options, refiner Flint Hills Resources LP, a unit of Koch Industries Inc., told FERC in a filing.
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Chesapeake Energy Corp., which has used a variety of savvy financial means to raise money for exploring and developing its vast unconventional portfolio in the United States, is preparing to launch its diverse onshore oilfield services unit through an initial public offering (IPO), a separate company that would continue to be closely tied to its main customer, the Oklahoma City-based producer.
Houston-based Contango Oil & Gas Co., which up to now has trained its sights on Gulf Coast locations, last week joined with some savvy financial partners to invest in a key Encana Corp. resource play, the Jonah field, one of the largest natural gas fields in the United States and the third largest oilfield in Wyoming.
Houston-based Contango Oil & Gas Co., better known as a Gulf Coast player, on Monday joined with some financially savvy partners to invest up to $380 million over the next five years in Encana Corp.’s holdings in the Jonah field, one of the largest natural gas fields in the United States and the third largest oilfield in Wyoming.
The speed at which energy companies embrace the Internet isexpected to accelerate for at least two more years, after whichcompanies that have aggressively invested in eBusiness will moveahead of competitors because of expanded revenue growthopportunities and reduced cost structures. At least that’s what anindustry survey by energy adviser Cap Gemini Ernst & Young U.S.LLC suggests.