NGL

Revived drilling contracts in 2022 plumped up the coffers of Ensign Energy Services Inc., a fixture of oilfield operations in Canada and the United States. Operating days were higher “as a result of supportive industry conditions driving activity improvements year/year,” executives said in the quarterly report. “The outlook for oilfield services continues to be positive…

Canada’s top natural gas producer, Tourmaline Oil Corp., is training its sights on the Montney Shale and revamping the marketing portfolio to fetch solid prices in North America and overseas. CEO Michael Rose led a conference call to discuss the Calgary-based exploration and production (E&P) company’s fourth quarter and full-year results. He also offered some…

Range Resources Corp.’s management team brushed aside questions about whether they’ve discussed the possibility of Pioneer Natural Resources Co. acquiring the company during a year-end earnings call.  CEO Jeff Ventura told analysts that a statement Pioneer recently issued downplaying the reports was “good news” for Range. He added that Range is “in a great position…

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…

Targa Resources Corp. has agreed to purchase Blackstone Energy Partners’ 25% interest in Targa’s Grand Prix natural gas liquids (NGL) pipeline for $1.05 billion in cash plus customary working capital adjustments. The transaction, slated to close during the first quarter, would give Houston-based Targa a 100% ownership position in the 1.0 million b/d capacity pipeline.…

Stonepeak Partners LP agreed this week to buy a half-stake in a new pipeline system that would move natural gas liquids (NGL) and byproducts from the Montney and Duvernay formations in Western Canada. Stonepeak bought the stake in the Key Access Pipeline System (KAPS) via Pembina Gas Infrastructure Inc. (PGI), a partnership owned 60% by…

Phillips 66 has budgeted $2 billion in its capital program next year, including $865 million for sustaining capital and $1.1 billion for growth capital. The company said around 50% of growth capital supports lower-carbon opportunities. In the Midstream business, growth capital would be directed to the integrated natural gas liquids (NGL) value chain from wellhead…

After posting record volumes across its gathering and processing (G&P) systems during the third quarter, Targa Resources Corp. has sanctioned two midstream projects in the Permian Basin. A second natural gas processing plant at the Wildcat facility in the Delaware sub-basin of the Permian would boost processing capacity by 275 MMcf/d. To be called Wildcat…

Amid a slowdown in the Gulf of Mexico (GOM), the U.S. natural gas rig count fell one unit to 158 for the week ended Friday (Oct. 7), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). Declines in the United States also included two oil-directed rigs, with the combined U.S. count…