Sunoco

A group of companies, including at least two electric utilities, has begun a discussion to possibly build a large natural gas pipeline that would connect Marcellus Shale supplies with Philadelphia customers.

Sunoco Logistics Partners LP said it has received enough binding commitments to enable Permian Express Phase I, a project to transport West Texas crude oil to Gulf Coast markets, to proceed. The binding open season continues and will close on Sept. 6. Permian Express Phase I would provide continuous pipeline service from Wichita Falls, TX, to Nederland/Beaumont, TX, markets. At Wichita Falls, a connection from Basin Pipeline would be provided. Due to the use of existing assets, the capacity to transport 90,000 b/d to Nederland/Beaumont is to be operational in the first quarter of 2013 (see Shale Daily, June 22).

Pennsylvania Gov. Tom Corbett is reportedly seeking up to $1.675 billion in tax credits over the next 25 years for Royal Dutch Shell plc and other companies willing to locate an ethane cracker in the state.

Burlington Resources Inc., Anadarko Petroleum Corp., Devon Energy Inc. and Sunoco posted the “biggest earnings surprise” in the third quarter, with earnings 15-28% higher than expected, followed by ConocoPhillips, EOG Resources Inc. and Occidental Petroleum Corp. in the 13-14% range, according to a new report by CreditSights analysts.

Burlington Resources Inc., Anadarko Petroleum Corp., Devon Energy Inc. and Sunoco posted the “biggest earnings surprise” in the third quarter, with earnings 15-28% higher than expected, followed by ConocoPhillips, EOG Resources Inc. and Occidental Petroleum Corp. in the 13-14% range, according to a new report by CreditSights analysts.