Companies
Elliott Sues Phillips 66 Over ‘Gamesmanship,’ Seeks Nomination Rights for Four Board Seats
Elliott Investment Management has filed suit against Phillips 66, accusing the company of boardroom gamesmanship and seeking nomination rights for four director seats at the 2025 annual meeting.
Brookfield Emerges as Frontrunner to Acquire 5,500-Mile Colonial Pipeline in $10 Billion Deal – Bloomberg
Colonial's pipeline system stretches over 5,500 miles from Houston in Texas to New York's harbor. It moves 100 million gallons of fuel daily, including gasoline, jet fuel, diesel and heating oil, according to the company's website.
Williams Cos. COO Micheal Dunn to Retire in 2025 After Decades of Leadership
Williams Cos. has announced that Micheal Dunn, Executive Vice President and Chief Operating Officer, will retire effective May 2, 2025. Dunn, who has been with the company for over three decades, has played a pivotal role in shaping Williams into a unified, industry-leading operating company.
Gibson, Baytex Partner on Pembina Duvernay Infrastructure Deal
Gibson Energy and Baytex Energy have formed a strategic partnership to develop midstream infrastructure in the Pembina Duvernay, securing a long-term take-or-pay agreement.
Enbridge Names Steven W. Williams as Board Chair
Enbridge Inc. has appointed Steven W. Williams as its new Chair of the Board, effective May 7, 2025, following the retirement of current Chair Pamela L. Carter.
Archrock to Acquire Natural Gas Compression Systems in $357 Million Deal
Archrock Inc. is set to acquire Natural Gas Compression Systems Inc. (NGCSI) in a cash and stock deal valued at $357 million, strengthening its position in the natural gas compression market.
HYLAN Launches New Gas and Pipeline Division to Expand Infrastructure Services
HYLAN, a market-leading provider of full-service turnkey communications solutions, electrical infrastructure design, and utility construction services, is expanding its capabilities with the launch of its new Pipeline Division.
Saipem, Subsea7 Agree to Multibillion-Dollar Merger to Form Saipem7
Saipem and Subsea7 have reached an agreement in principle to merge, forming a global energy services company with a combined backlog of $46.8 billion, revenue of approximately $21.8 billion, and EBITDA exceeding $2.2 billion.
Chevron Plans to Cut 15% to 20% of Global Workforce by 2026
Chevron will lay off 15% to 20% of its global workforce by the end of 2026, the U.S. oil company said on Wednesday as it seeks to cut costs, simplify its business, and complete a major acquisition.
Elliott Builds $2.5 Billion Stake in Phillips 66, Pushes for Midstream Business Sale
Elliott Investment Management has built a $2.5 billion stake in Phillips 66 and is pushing for the sale of its midstream business. The activist investor argues that urgent changes are needed to boost shareholder returns, including divesting midstream assets and restructuring operations.
Welcome Back to P&GJ’s Annual Pipeline Conference
For the first time since 2022, Pipeline & Gas Journal will host a midstream event to discuss construction and corrosion challenges, and to explore what lies ahead in what is expected to be a more favorable regulatory and permitting climate.
North Sea Midstream Partners Names Angela Fletcher as CEO
Fletcher, who has served as NSMP’s chief commercial officer for the past year, takes over as the midstream operator continues efforts to support UK energy security and transition efforts.
ONEOK Completes EnLink Midstream Acquisition, Expands Value Chain
ONEOK Inc. has completed its acquisition of EnLink Midstream LLC, strengthening its integrated midstream operations and diversifying its platform. The transaction was approved by EnLink unitholders at a special meeting on Jan. 30.
Valero Exceeds Q4 Estimates Despite 77% Profit Drop
Refiner Valero Energy beat fourth-quarter profit and revenue estimates on Thursday, helped by lower costs and steady output.
Otto McMillan: Once, Twice, Three Times a Hero
The Charlotte-based Piedmont Natural Gas utility field representative is a serial hero, having performed three life-changing heroic acts in 2023.
Venture Global LNG Lowers IPO Valuation Target to $65.3 Billion
Venture Global LNG on Wednesday slashed the valuation it sought from a U.S. initial public offering to $65.33 billion, significantly lower than the initial target of $110 billion.
INGAA Names Boardwalk Pipelines’ McMahon as 2025 Chair, Congratulates Christie on FERC Appointment
INGAA has announced Michael McMahon, Senior Vice President and General Counsel of Boardwalk Pipelines, as its chairman for 2025. Alongside this news, INGAA extended congratulations to Mark Christie on his appointment as Chairman of FERC.
Velocity Management Invests in Oklahoma-Based Pipeline Builder M Wright Services
M Wright Services, a pipeline construction company based in Weatherford, Oklahoma, has received a minority investment from Velocity Management Advisors, a partnership of seasoned midstream professionals.
Kim Rush Named President of NW Natural Gas, Effective April 2025
Northwest Natural Gas Company (NW Natural) has announced the appointment of Kim Rush as its next president, effective April 1, 2025. Rush, a 26-year veteran of the Portland-headquartered utility, will take on full strategic, financial, and operational responsibilities for the company.
Constellation Energy to Buy Calpine in $16.4 Billion Power Industry Mega-Merger
U.S. nuclear power provider Constellation Energy on Friday agreed to buy privately-held natural gas and geothermal company Calpine Corp. for $16.4 billion, marking one of the biggest acquisitions in the history of the U.S. power industry.
Chevron Eyes $6-8 Billion Free Cash Flow Growth in 2024, CEO Says
Chevron is positioned to increase its free cash flow by $6 billion to $8 billion by next year, and reduce expenses by "a couple billion dollars," said Chevron CEO Michael Wirth on Wednesday.
Constellation Nears $30 Billion Deal for Natural Gas Company Calpine: Bloomberg
Constellation Energy is nearing an acquisition of Calpine Corp. that would value the company at about $30 billion including debt, Bloomberg News reported on Wednesday, citing people familiar with the matter.
EQT Finalizes $3.5 Billion Midstream JV with Blackstone Credit
EQT Corp. has completed the formation and funding of its midstream joint venture (JV) with Blackstone Credit & Insurance (BXCI), the company announced on Dec. 30.
ONEOK Finalizes $1.2 Billion Sale of Natural Gas Pipelines to DT Midstream
ONEOK Inc. has completed the sale of its three interstate natural gas pipeline systems to DT Midstream Inc. for $1.2 billion in cash. The deal included the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission systems.
Martin Midstream, Martin Resource Management Call Off Merger After Unitholder Pushback
Martin Midstream Partners has announced the termination of its merger agreement with Martin Resource Management Corp. Under the agreement, MRMC would have acquired all outstanding common units of MMLP not already owned by MRMC and its subsidiaries.
Oil States Sells Houston Ship Channel Facility for $24.8 Million
Oil States International Inc. has finalized the sale of its idled Houston Ship Channel facility, generating $24.8 million in net proceeds. The sale is part of the company’s broader strategy to optimize its operations and improve financial flexibility.
Matador Closes $600 Million Pronto Midstream Deal, Strengthens Balance Sheet
Matador Resources Company has finalized the contribution of its wholly-owned subsidiary, Pronto Midstream, LLC, to its midstream joint venture, San Mateo Midstream, LLC. The deal values Pronto at approximately $600 million and brings San Mateo's total estimated asset value to over $1.5 billion, net to Matador.
Glass Lewis Backs Martin Midstream's Buyout Deal with Martin Resource
Martin Midstream Partners said on Wednesday that proxy advisory firm Glass Lewis has recommended the energy infrastructure firm's unitholders to vote for the company's proposed buyout deal with Martin Resource Management Corp.
T.D. Williamson Acquires Canadian Pipeline Repair Innovator Petro-Line
T.D. Williamson (TDW), a global leader in pipeline technology, has acquired Petro-Line, a Canadian company known for its patented pipeline repair solutions, including the PETROSLEEVE.
PGJ Exclusive (sponsored): How Southern Star revolutionized operations with a one-stop shop asset management upgrade
Southern Star is a key player in the natural gas sector. Overseeing 5,800 miles of pipeline, 43 compressor stations and eight gas porosity storage fields, the company has many assets and work processes to manage and maintain. Read how Southern Star gained a 25% increase in efficiency and optimized time and resources through an upgraded asset management system.
- Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Energy Transfer Wins New York Court Ruling in $150 Million Pipeline Fraud Case
- ONEOK, MPLX to Build $1.4 Billion LPG Export Terminal, Pipeline in Texas
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- India’s GAIL Eyes U.S. LNG Deals Following Trump’s Policy Shift
- TC Energy Beats Q4 Profit Estimates, Driven by Mexico Pipelines' Success
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
