Company News

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.

Berkshire Hathaway Successfully Acquires Dominion Energy’s 50% Stake in Cove Point LNG

(P&GJ) — Berkshire Hathaway Energy has completed the purchase of Dominion Energy’s 50% limited partnership stake in the Cove Point LNG, LP business, resulting in a total ownership interest of 75%.

Finalists Unveiled for Midstream Categories in Gulf Energy Information Excellence Awards

(P&GJ) — Pipeline & Gas Journal is thrilled to announce the distinguished finalists for the midstream categories in the inaugural Gulf Energy Information Excellence Awards.

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.

Plains All American Tops Estimates, Sees 2023 Earnings Near High End of Guidance

Plains All American on Friday posted earnings above estimates and said it expects full-year profit at the top end of the pipeline operator's previous guidance, citing higher crude oil volumes.

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.

Voyager Midstream Secures Equity Commitment from Pearl Energy Investments

(P&GJ) — Texas-based Voyager Midstream Holdings has secured an initial capital commitment from Pearl Energy Investments to pursue the acquisition and development of crude oil, natural gas, and produced water infrastructure across key North American supply basins.

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.

Companies in the News July 2023

Companies in the News July 2023

NextDecade Shares Fall 23% as LNG Project Funding Disappoints Investors

NextDecade Corp. shares fell 23% on Thursday on investor worries over the terms of $18.4 billion financing the U.S. LNG developer obtained to go ahead with the long-delayed Phase 1 of Rio Grande LNG export facility.

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.

Energy Income Partners to Vote Against $18.8 Billion ONEOK-Magellan Deal

Asset manager Energy Income Partners LLC, one of the top shareholders in Magellan Midstream Partners, said on Thursday that it intends to vote against pipeline operator ONEOK Inc.'s deal to buy Magellan.

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.

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

BASF Considers Sale of Wintershall Dea

Last week, German chemicals group BASF announced that it was working to exit energy business Wintershall Dea, with a stock market listing remaining the preferred option.

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.

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.

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.

Wintershall Dea Looks Ahead After Closing Door on Russia

Oil and gas producer Wintershall Dea, fresh from pulling out of its long-term partnership with Russia, will focus on growing its production elsewhere and building up carbon management for the long-term future, it said on Thursday.

Diamondback Energy Targets At Least $1 Billion in Non-Core Asset Sale; Beats Profit Estimates

U.S. oil and gas producer Diamondback Energy Inc said on Wednesday it was increasing its non-core asset sale target to at least $1 billion by the end of this year from $500 million. Additionally, the shale producer announced it beat Wall Street expectations for fourth-quarter profit, as tighter energy supplies following Russia's invasion of Ukraine boosted crude prices.