Companies
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.
AMPP Appoints Alan Thomas as CEO
(P&GJ) — The Association for Materials Protection and Performance (AMPP), a global nonprofit representing more than 32,000 members in the materials, corrosion and coatings industries – among them pipeline companies – has appointed Alan Thomas as its new chief executive officer effective April 1.
Tellurian Faces New Setback as Financing Looms for $13 Billion Driftwood LNG Project
Tellurian Inc. is facing a new setback in a long-running effort to advance a $12.5 billion U.S. LNG export project. Commodities trader Gunvor Ltd. can walk away from a 10-year, about $12 billion commitment to buy LNG if Tellurian's Driftwood LNG project lacks a financial go-ahead, project financing and a full construction authorization by Feb. 28.
Pioneer Natural Resources Denies Report of Acquisition of Range Resources
Oil and gas explorer Pioneer Natural Resources Co. said on Friday that it was not pursuing any business combinations, after Bloomberg News reported that the oil and gas explorer was considering an acquisition of smaller U.S. rival Range Resources Corp.
Abu Dhabi's ADNOC Looks to Raise Up to $2 Billion from IPO of Gas Unit
State oil giant Abu Dhabi National Oil Co. (ADNOC) said on Thursday it has set a price range for an initial public offering (IPO) of its gas unit that could raise up to $2 billion and give ADNOC Gas an equity valuation of $47 billion to $50.8 billion.
Tokyo Gas Cuts Shareholder Returns to Invest in Decarbonization
Japan's Tokyo Gas will cut shareholder returns from the next financial year and use freed up funds to invest in technology to slash its carbon emissions, the company said on Wednesday. The company will pay out 40% of profits from the current 50% from the next financial year, it said.
CenterPoint Energy Misses Quarterly Profit Estimates on Higher Costs
CenterPoint Energy Inc. narrowly missed the fourth-quarter profit estimates on Friday, as higher costs hit the U.S. electric and gas utility firm.
Canada's Cenovus Names Jon Mckenzie as New CEO, Posts Quarterly Profit
Cenovus Energy named COO Jon McKenzie as its next president and chief executive on Thursday, as Canada's second-largest oil and gas producer swung to a fourth-quarter net profit from a loss last year.
Sources: Abu Dhabi's ADNOC to Float 4% of Gas Business
Sources told Reuters last month that ADNOC was eyeing a valuation of at least $50 billion for its gas business, which would translate to proceeds from the IPO of roughly $2 billion, according to Reuters calculations.
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
