Companies
Chevron Drops $33 Billion Pursuit of Anadarko, Hands Win to Occidental
Chevron Corp abandoned its pursuit of Anadarko Petroleum Corp , outmaneuvered by a higher rival bid of $38 billion that included more than three times as much cash.
Howard Energy Plans New Gathering System in STACK Play
Howard Energy Partners announced yesterday that it has executed an agreement with a major North American oil and gas producer to construct, own and operate a new natural gas gathering system located in the over-pressured area of the prolific STACK play. HEP’s new midstream infrastructure will be anchored by fee-based, long-term acreage dedications totaling approximately 10,000 acres in Dewey and Custer counties in central Oklahoma.
Siemens Spins Off Gas and Power Division
Siemens is spinning off its gas and power business, which has dragged on the German engineering firm's performance as the rise of renewable power hits demand for gas turbines.
Con Edison Halts Gas Hookups, Citing Interstate Pipeline Constraints
Consolidated Edison imposed a moratorium on new natural gas service in parts of New York’s Westchester County despite a $250 million state plan to reduce energy usage, to avoid compromising system reliability due to limited pipeline capacity into the region. Several companies tried for years to bui..
Greece Becoming 1st First Non-Russian Gas Supplier to Bulgaria
Bulgaria’s Bulgargaz struck a deal to buy 1.5 million megawatt hours of natural gas from Greece’s DEPA, the first time the state provider has bought gas outside its long-term contract with Russia’s Gazprom. Bulgargaz said it will complete the purchase in the second quarter, pumping the gas into its..
Anadarko Backs Oxy's Revised Bid, Pressuring Chevron to Respond
Anadarko Petroleum Corp's board has backed a $38 billion bid from Occidental Petroleum Corp, adding pressure on rival Chevron Corp to raise its offer or walk away from the takeover contest.
Rangeland Midstream Announces New Canadian Pipeline Project
Rangeland Midstream Canada announced plans to design, construct and operate new crude oil and condensate pipelines located in the Marten Hills region of north central Alberta. The Marten Hills Pipeline System will extend approximately 53 miles and consist of crude oil and condensate pipelines and related facilities. The system is expected to come into service in the second quarter of 2020.
Shell in Talks to Buy BP's Share of Shearwater Field
Royal Dutch Shell is in talks to buy BP's stake in the Shearwater oil and gas field in the British North Sea for around $250 million.
Occidental Petroleum Submits $57 Billion Bid for Anadarko, Topping Offer From Chevron
Oil and gas producer Occidental Petroleum Corp on Wednesday made a $57 billion bid for Anadarko Petroleum Corp, topping Chevron Corp's $50 billion offer and setting up the first hostile takeover battle for a major oil company in years.
Minnesota Governor Renews Challenge to Enbridge Pipeline
Gov. Tim Walz said Monday that his administration has renewed its challenge to a regulatory panel’s approval of Enbridge Energy’s plan to replace its aging Line 3 crude oil pipeline across northern Minnesota, saying he wants to let the legal process play out.
Chevron Acquiring Anadarko for $33 Billion as Crude Prices Climb
Chevron will buy Anadarko Petroleum for $33 billion in a cash-and-stock deal as the company seeks to grow stronger in deep water exploration in the gulf and the energy-rich southwest region of Texas called the Permian Basin.
Hastings Announces Sale of Cactus Fuel
Hastings Equity Partners, a private equity firm focused on investing in lower, middle-market energy and industrial services businesses, is pleased to announce the sale of assets of Cactus Fuel, LLC to Pilot Thomas Logistics, LLC.
China Plans State Pipeline Company to Spur E&P
China is expected to introduce a plan this year to combine the long-distance pipeline assets of its state-owned energy companies into a single, national oil and gas pipeline group and open access to private and foreign energy producers.
VNG Busy Modernizing Pipeline Infrastructure
As with many other natural gas providers, Virginia Natural Gas (VNG) faces the twin challenge of replacing aging pipeline in congested areas, where rights-of-way are also frequently overflowing with multiple other utilities’ infrastructure.
Optimism Abounds for M&A in the Gulf of Mexico
A comeback is expected for M&A activity in the U.S. Gulf of Mexico. The combination of substantial inventory on the block, potential proof-of-concept developments on the horizon and continued focus by many players in the region on divesting of non-core properties, may set the stage for heightened deal flow in the region, assuming commodity prices continue to cooperate.
Noble Energy Sanctions the Alen Gas Project with Startup Planned in the First Half of 2021
Noble Energy, Inc. announced today that the Company has approved the Alen natural gas development offshore Equatorial Guinea (EG).
NextDecade and Shell Execute 2 MTPA, 20-Year LNG Sale and Purchase Agreement
NextDecade Corporation (“NextDecade”) announced at the LNG2019 conference in Shanghai, a 20-year sale and purchase agreement (“SPA”) with Shell for the supply of two MTPA of LNG from NextDecade’s Rio Grande LNG export project in Brownsville, Texas.
Noble Midstream Secures Investment for EPIC Crude Pipeline
Noble Midstream announced it has secured a $200 million equity commitment (“Preferred Equity”) from Global Infrastructure Partners Capital Solutions Fund (“GIP”) to fund capital contributions to Dos Rios Crude Intermediate LLC, a newly-formed subsidiary holding Noble Midstream’s 30% equity interest in the EPIC Crude Pipeline.
TechnipFMC Awarded Significant Johan Sverdrup Subsea Contract
TechnipFMC has been awarded a significant Subsea contract by Equinor for the Johan Sverdrup Phase 2 development, located in the Norwegian sector of the North Sea at a water depth of 120 meters.
U.S. Shale Boom Drawing Big Oil Back to Permian Pushing Out Independents
Major oil companies are pouring money and resources back into the Permian after new shale discoveries and improvements in technology will enable the U.S. to quickly become the world's second largest oil producer behind only Saudi Arabia.
US Court Stays Ruling Against Dominion Atlantic Coast Pipeline
US Court Stays Ruling Against Dominion Atlantic Coast Pipeline A U.S. appeals court has stayed a previous court decision against Forest Service permits that allowed Dominion Energy Inc to build the $7 billion Atlantic Coast natural gas pipeline across national forests and the Appalachian Trail. ..
Wood Awarded Major Pipeline Construction Contract
Wood has been awarded a $34 million contract from RH energytrans LLC to construct 28 miles of new pipeline designed to carry natural gas from Pennsylvania to Ohio.
Nuevo Midstream Dos to Purchase Republic Midstream
Nuevo Midstream Dos, LLC entered into a definitive agreement with an affiliate of ArcLight Capital Partners to buy Republic Midstream, which owns and operates a crude oil gathering, storage and intermediate transportation system in the Eagle Ford Shale.
Petrobras Looking at $10 Billion in Divestments, Including Pipeline Unit
Roberto Castello Branco, the chief executive of Brazil’s Petroleo Brasileiro SA, said he believes the company will divest $10 billion in assets in the first four months of 2019, aided by the sale of a major pipeline unit.
Con Edison Halts Gas Hookups, Citing Interstate Pipeline Constraints
Consolidated Edison Inc said it will impose a moratorium on new natural gas service in parts of New York's Westchester County to protect system reliability due to limited space on interstate pipelines to the region.
Serbia's Gastrans Invites Binding Bids for New Gas Link
Serbia's Gastrans has invited binding bids to book capacity at a planned section of Gazprom's TurkStream pipeline, which will carry Russian natural gas across Serbia to Europe.
TPG Capital Announces Acquisition of Goodnight Midstream
TPG Capital, the private equity platform of global alternative asset firm TPG, announced today it has signed a definitive agreement to acquire a majority stake in Goodnight Midstream, a leading midstream produced water infrastructure company, for approximately $930 million. TPG is acquiring the company from Tailwater Capital and private investors. Existing shareholders, including management, will retain a significant minority interest in the company.
Three Groups Bid to Build $1.6 Billion Gas Pipeline in Bulgaria
Three consortiums have submitted bids in a 1.4 billion euro ($1.6 billion) tender to build a pipeline to carry Russian natural gas across Bulgaria, state-owned network operator Bulgartransgaz said on Thursday.
Moda Looks at 2nd Supertanker Berth to Handle 3 New Pipelines
Moda Midstream LLC is considering building a second berth at its Ingleside, Texas, crude export terminal to accommodate supertankers, the company’s chief executive said
NextDecade Leases Brownsville Site for $15 Billion Rio Grande LNG Project
NextDecade Corporation (NextDecade) announced today that Rio Grande LNG, LLC, a NextDecade subsidiary, has entered into a lease agreement with the Brownsville Navigation District (BND).
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
