Companies

Argentina’s YPF Nearly Triples Q3 Profit on Upped Production, Prices

Argentina's national oil company YPF reported on Wednesday it nearly tripled its third-quarter net profit compared to the same period last year as production and prices rose.

Gas Producer EQT Expected to Buy THQ Appalachia for $5.2 Billion

The deal, expected to close in the fourth quarter, will add an estimated 800 MMcf/d of gas equivalent production for EQT, and includes pipeline infrastructure supporting that production, the company said.

Companies in the News September 2022

Companies in the News September 2022

Retiring EnLink Founder Davis Recounts Decades of Change

(P&GJ) — EnLink Midstream Chairman and CEO Barry E. Davis is stepping away from EnLink, the company he founded and led for more than 25 years. In this exclusive interview with Pipeline & Gas Journal, Davis discusses what it takes to get a pipeline built today, the importance of carbon capture efforts in the coming years, and he also picks a couple of his favorite pipeline projects from his career.

Pipeline Technique Successfully Acquires Stanley’s Oil and Gas Division

Pipeline Technique, a market leader in the onshore and offshore infrastructure welding, coating, and technological engineering sector, has completed its transformational acquisition of a trio of industry-leading energy infrastructure businesses from Stanley Black & Decker.

Companies in the News August 2022

Companies in the News August 2022

Tellurian Completes $126 Million Acquisition of Haynesville Natural Gas Assets

Tellurian Inc. subsidiary Tellurian Production LLC said on Thursday it has closed the previously announced acquisition of certain assets in the Haynesville Basin from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners LLC.

Pipeline Operator DCP Midstream Receives Acquisition Proposal from Phillips 66

U.S. refiner Phillips 66 on Wednesday offered to acquire the public units of DCP Midstream in a deal that would value the pipeline operator at $7.2 billion and bulk up Phillips' natural gas liquids business.

Pipeline Operator Energy Transfer Completes Sale of Stake in Energy Transfer Canada

Energy Transfer LP has completed the sale of its 51% interest in Energy Transfer Canada ULC (Energy Transfer Canada) on Tuesday to a joint venture which includes Pembina Pipeline Corporation and global infrastructure funds managed by KKR.

Shell USA, Shell Midstream Partners to Merge in $1.96 Billion Deal

Shell USA Inc. has agreed to merge with Shell Midstream Partners LP in a deal valued at $1.96 billion, the company said on Monday.

Companies in the News July 2022

Companies in the News July 2022

Marcellus, Utica Operators Post Victories, Recalibrate

To be sure, it has not been an easy road, but of all the projects that have been completed this year, the Mariner East system may be midstream’s most satisfying – it certainly has been for those in the Marcellus and Utica shale plays of Pennsylvania, West Virginia and Ohio.

Enbridge First-Quarter Profit Rises on Higher Shipment Volumes

Canada's Enbridge Inc. reported a 4.34% rise in first-quarter profit on Friday, as a surge in demand for oil and gas boosted the pipeline operator's shipment volumes.

Magellan Midstream Raises Cash Flow, Profit Estimates on Higher Prices

Magellan Midstream Partners LP raised its cash flow and profit forecasts for this year as it expects higher oil and products prices to lead to increased flows in its pipelines, the company said on Thursday.

Shell in Talks with Chinese Firms to Sell Stake in Russian Gas Project

Energy giant Shell is in talks with some Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow over its invasion of Ukraine.

Exxon Mobil May Completely Withdraw from Russia by June 24 — Sources

Exxon Mobil is considering a complete withdrawal from Russia by June 24, following the U.S. group's decision back in March to exit from its oil and gas operations in the country.

NextEra Posts Quarterly Loss After Taking Hit from Natural Gas Prices

NextEra Energy Inc. took losses of $1.77 billion on some of its hedges as natural gas prices shot up during the period and was also hit by a $600 million after-tax impairment on its investment in the Mountain Valley Pipeline.

Pipeline Operator Kinder Morgan's Profit Sinks on Lower Crude Volumes

Kinder Morgan Inc. reported a nearly 53% plunge in quarterly profit on Wednesday as the U.S. pipeline operator transported lower volumes of crude and condensate.

INGAA’s New Foundation Chair Brings Much Experience to the Position

When it comes to experience in pipeline construction, INGAA Foundation’s new chair, Marty Jorgensen, has it in spades – about 40 years’ worth.

Whiptail Midstream Acquires 525 Miles of Pipeline in San Juan Basin

Whiptail Midstream has acquired DJR Energy's oil, gas, and water gathering assets in the Gallup oil window of the San Juan Basin, doubling the company's dedicated acreage, miles of pipeline and production flowing on its assets.

South Africa’s Tribunal Approves Pipeline Company Acquisition

The South Africa Competition Tribunal has approved without conditions the large merger of South Africa African Gas Development Company SOC O Ltd. (iGas), Companhia Mocambicana de Gasoduto S.A. (CMG) and Republic of Mozambique Pipeline Investments Company (Pty) Ltd. (ROMPCO).

Companies in the News March 2022

Companies Pipeline engineering software developer Technical Toolboxes has been acquired by HKW, a private equity firm. The deal will provide the company with the resources it needs to grow, said CEO Drew Lafleur. Technical Toolboxes has provided software to support midstream engineering needs for..

BP Dumping Stake in Russia's Rosneft in Up to $25 Billion Hit

BP is abandoning its stake in Russian oil giant Rosneft, marking the most significant move yet by a Western company in response to Moscow's invasion of Ukraine.

Equitrans Nixes Summer Start of Mountain Valley Pipeline

Equitrans Midstream on Wednesday announced that it is no longer targeting a summer 2022 startup of its long-delayed Mountain Valley Pipeline (MVP) and is not yet able to provide an update on the project's in-service timing or overall cost.

Companies in the News February 2022

Companies   KTN Becomes Full Member of ROSEN Group   KTN AS, which has worked closely over the past five years with the ROSEN Group to provide in-line inspection (ILI) services for challenging pipelines, has become a full member of the ROSEN Group to provide its portfolio of services under the ROS..

Clearfork Completes Acquisition of Azure Midstream

Azure Midstream Energy, a natural gas midstream company operating in North Louisiana and East Texas, announced Tuesday that it has closed on its sale to Clearfork Midstream.

Dakota Access Pipeline Suffers US Supreme Court Setback

The U.S. Supreme Court on Tuesday rejected a bid led by Dakota Access Pipeline operator Energy Transfer to avoid additional environmental review of a section that runs under an artificial lake and is opposed by nearby Native American tribes, leaving the pipeline vulnerable to being shut down.

NextEra Takes $800 Million Charge for Mountain Valley Pipeline

A unit of NextEra Energy recorded an $800 million impairment charge in the first quarter as the U.S. renewable energy company re-evaluates its investment in the long-delayed Mountain Valley Pipeline.

SoCal Unveils Plan to Supply Los Angeles with Green Hydrogen

Southern California Gas, the largest U.S. natural gas utility, on Thursday unveiled a major proposal to deliver hydrogen produced by wind and solar energy to the Los Angeles area.

Energy Transfer Eyes Permian Gas Pipeline, Starts Gulf Run Construction

Energy Transfer has joined at least two other companies looking to build the next pipeline to transport growing natural gas production from the Permian Basin to export hubs on the Gulf Coast.