Companies

Sempra Completes Port Arthur LNG Phase 1 Interest Sale to KKR

(P&GJ) — Sempra Infrastructure announced that it has completed the sale of a 42% indirect, non-controlling interest in its Port Arthur LNG Phase 1 project to KKR.

Diamondback Energy, Five Point Form Water-Focused JV Deep Blue in Midland Basin

(P&GJ) — Diamondback Energy Inc. and Five Point Energy LLC have partnered to form a new joint venture entity, Deep Blue Midland Basin LLC. The joint venture’s water infrastructure network comprises over 800 miles of pipelines for gathering, transport, disposal and reuse.

Chevron Gambles on Untested Laws to Halt Australia LNG Strike Action

Chevron Australia no longer expects to reach a deal with unions and will instead pursue an untested legal strategy to stop industrial action at its Gorgon and Wheatstone LNG facilities as unions prepare for full-scale strikes.

Williams CEO Not Interested in Acquisition of Utility Companies

U.S. energy firm Williams Companies is not interested in three utilities recently bought by Canada's pipeline operator Enbridge as the return rate would be too low, CEO Alan Armstrong said on Wednesday.

US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time

Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday.

FTC Approves EQT's Deal to Buy THQ Appalachia

EQT Corp., the biggest U.S. natural gas producer, has received the U.S. Federal Trade Commission's approval to buy THQ Appalachia and associated infrastructure. The proposed deal is valued at $5.2 billion.

Energy Transfer Reports Lower Q2 Earnings, Weighed by Natural Gas Prices

Last week, U.S. midstream company Energy Transfer reported lower earnings for the second quarter despite higher transport volumes in most energy product segments versus a year ago.

Sempra Exceeds Profit Expectations as LNG Expansion Propels Growth

Sempra has strategically positioned LNG as a burgeoning sector within its portfolio and is making noteworthy strides in expanding its LNG infrastructure, with key projects in the pipeline. Among these ventures is the Costa Azul LNG export plant in Mexico, which is on track to contribute to Sempra's LNG growth strategy.

Canada Pipeline Operator Enbridge's Quarterly Profit Rises on Strong Volumes

Canadian pipeline operator Enbridge Inc. reported a rise in second-quarter profit on Friday as delivery volumes were lifted by oil and gas companies boosting production to take advantage of steady commodity prices.

Pipeline Operator Williams Companies Beats Q2 Profit Estimates on Higher Natural Gas Volumes

Williams Companies, a pipeline operator, exceeded second-quarter profit estimates driven by increased natural gas transportation volumes and benefits from certain acquisitions.

LNG Terminal Developer Crown to Go Public via $685 Million SPAC Deal

Crown LNG Holdings, which develops LNG terminals to operate in harsh weather conditions, has agreed to go public in New York by merging with a blank check firm in a deal that values the combined company at $685 million.

United Energy, Bridge Energy Partner to Expand LNG Processing Capabilities

(P&GJ) — The strategic partnership aims to leverage the expertise and resources of both companies to expand UNRG’s processing capabilities of LNG and unlock its immense potential as a clean and versatile energy source.

TC Energy to Spin Off Oil Pipeline Business, Focus on Natural Gas

North American pipeline company TC Energy, which has been seeking to sell assets and cut debt, said on Thursday it would spin off its oil pipeline business and focus on transporting natural gas, saying the businesses would be more valuable apart.

Sinopec Natural Gas Output Rises in First-Half 2023

Chinese state-owned energy giant Sinopec's natural gas production in the first half of 2023 rose 7.6% from a year before to 666.1 Bcf, according to a filing with the Shanghai Stock Exchange released on Thursday.

Kinder Morgan Misses Revenue Estimates as Gasoline, Diesel Volumes Drop

While Kinder Morgan's volumes for gasoline and diesel fell in the reported quarter compared to the previous year, its total delivery volumes rose on higher natural gas volumes.

Berkshire Hathaway to Acquire Dominion Energy’s 50% Stake in Cove Point LNG

(P&GJ) — A unit of Warren Buffett's Berkshire Hathaway announced that it has executed an agreement to purchase Dominion Energy’s 50% limited partnership stake in the Cove Point LNG facility in Maryland's Chesapeake Bay for $3.3 billion in cash.

Reminder: Deadline to Nominate for Midstream Honors Is July 15

(P&GJ) — Pipeline and Gas Journal would like to remind those in midstream that midnight, July 15, is the absolute final deadline to submit nominees for the Gulf Energy Information Excellence Awards.

NET Power, Rice Acquisition Merge to Accelerate Clean Natural Gas Power Generation

(P&GJ) — Occidental's president and CEO, Vicki Hollub, expressed confidence in NET Power's transformative technology, stating that it aligns with Occidental's net-zero ambitions by delivering nearly emissions-free power to their Permian Basin operations and upcoming direct air capture sites.

Knight Energy Services Acquires Platinum Pipe Rentals

(P&GJ) — The combined business will have 18 locations across the country, with a fleet of more than 200,000 pieces of rental tools and equipment, including more than 7 million feet of drill pipe and tubing.

Canadian Pipeline Operator TC Energy Announces Staff Layoffs

Canada's TC Energy is cutting some jobs to "optimize value" a company spokesperson said on Tuesday, without giving details of how many positions have been impacted.

Equitrans Midstream Shares Make Record Gains on US Debt Ceiling Deal

Shares of Equitrans Midstream Corp. jumped on Tuesday after the U.S. debt ceiling deal contained specific proposals that would allow the U.S. energy company to obtain permits for the Mountain Valley Pipeline.

Gulf Energy Information Names Andy McDowell as New President

(P&GJ) — Gulf Energy Information (Gulf), a century-old provider of information to the global oil and gas and energy industries, has announced changes to its leadership structure, effective August 1, 2023.

Companies in the News May 2023

Companies in the News May 2023

Shale Producer Pioneer's CEO Scott Sheffield to Retire

Sheffield, an energy veteran, served as Pioneer’s founding CEO from 1997 to 2016 and chairman since 1999. He stepped down from the CEO role in 2016 before returning to the helm three years later.

NextEra Energy Q1 Results Boosted by Clean Energy Push

NextEra, which generates more wind and solar energy than any other company in the world, said it is benefiting from a clean energy investment push that has received major public policy support in recent months and given it a buffer against natural gas price swings.

Oilfield Firm Baker Hughes Beats Profit Estimate, Shares Rise

Baker Hughes Co. on Wednesday said it beat first-quarter profit estimates as rising oil prices boosted demand for its equipment and services, sending the oilfield firm's shares higher.

Companies in the News April 2023

Companies in the News April 2023

Companies in the News March 2023

Companies in the News March 2023

Sempra Beats Profit Estimates on Higher Earnings from California Units

Sempra Energy reported fourth-quarter profit that beat analysts' estimates on Tuesday, helped by higher earnings from its California utilities. The company also reiterated that it is targeting a final investment decision for its LNG export facility in Texas before the end of the first quarter of 2023.

Oilfield Services Firm Atlas Energy Aims for $2 Billion Valuation in US IPO

The company provides logistics services to customers in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. It plans to raise $414 million in an offering priced between $20 and $23 per share.