News
$38B El Paso-Kinder Morgan Deal: How They Got Here, What's Next
In a deal that will have enormous ramifications for the pipeline industry, Kinder Morgan, Inc. has announced plans to buy El Paso Corp. for $38 billion. If it goes through, the deal will create the largest midstream energy enterprise company as well as:
Gas Pipelines To Account For Most Planned Pipeline Length Addition
During 2011–2015, gas pipelines will account for about 75% of the total global planned pipeline length addition, according to a GlobalData report.
Editor's Notebook: Courage Under Fire
You can’t really define a hero. Nobody wakes up and realizes he or she is going to face a life-altering event later that day.
Corrosiveness Of Oil Sands Crude An Unproven Science
While recent oil spills has added to debate over the safety of shipping Canada’s oil sands crude through pipelines, there is little hard evidence that the oil is more corrosive than conventional crude, according to a report by Reuters which interviewed various scientists and regulators.
Natural Gas Price Picture May Change By Late 2012
The natural gas market today is a completely different market from that of just three years ago. A shortage of supplies has turned into an overabundance, and production continues to outpace demand. In July 2008, the price of natural gas in Louisiana was close to $14 per MMBtu, and according to the Energy Information Administration (EIA), natural gas production levels in the Lower 48 states was 62.78 Bcf/d. Today, the price of natural gas in Louisiana is hovering around $4 per MMBtu, and natural gas production levels in the Lower 48 states have climbed to over 69 Bcf/d.
Cameron Acquires LeTourneau For $375M Cash
Cameron has agreed to acquire LeTourneau Technologies Drillings Systems and Offshore Products divisions from Joy Global Inc. for approximately $375 million in cash.
New Outlook Says Natural Gas Could Help Industrial Sector Recover
The latest “Summer Outlook” by the Natural Gas Supply Association (NGSA) indicates that consumers of natural gas will benefit from stable and steady natural gas prices, which should also help the nation’s recovering industrial sector.
Natural Gas Industry Spent $3.5 Million Lobbying In PA
A report by the <em>Scranton Times Tribune</em> found that the natural gas industry spent more than $3.5 million last year to lobby lawmakers and state officials on issues concerning Marcellus Shale gas extraction.
Natural Storage Development Entities Form New Company
QNGS Holdings, LLC, a portfolio company of Quantum Energy Partners, LLC and Larry Bickle, chairman of the combined entities, announced that the company is combining its two natural gas storage development entities, Merchant Energy Partners, LLC of Denver, Colorado and Icon NGS, LLC of Houston.
Editor's Notebook: Northern Light
Sometimes it’s hard to know when bad news is really a blessing in disguise, at least for some. Shell has announced plans to dump its 11.4% stake in the proposed Mackenzie natural gas production and pipeline project, thus dealing another crippling, if not fatal, blow to the long-discussed northern Canada venture.
Report Says New Drilling Permits Could Add Hundreds Of Thousands Of Jobs
A just-released economic analysis of natural gas and oil development in the Gulf of Mexico indicates the United States could add $45 billion to the American economy and 430,000 direct, indirect, and induced jobs in the next two years.
Goldman Sachs Sees Natural Gas Prices At $6 By 2015
While predicting that U.S. natural gas prices will reach $6 per million Btus by 2015, Goldman Sachs analysts projected they will average just $4.25 in the near term as new shale gas continues to flow into the market.
Caterpillar To Expand Hydraulic Excavator Facility In Texas
Caterpillar Inc. plans to significantly increase its manufacturing capabilities and capacity for hydraulic excavators that will be produced at a facility under construction in Victoria, TX.
Safety, Shale, Midstream Construction Discussed At Pipeline Opportunities Conference
The seventh annual Pipeline Opportunities Conference, presented by Pipeline & Gas Journal and the Interstate Natural Gas Association of America (INGAA), was held April 19 at the Intercontinental Hotel in Houston. The event drew more than 400 attendees who came to hear 16 key industry executives discuss activities and issues related to today’s challenges for U.S. oil and gas pipelines. Pipeline safety was also a considerable focus of this year’s program along with an Alaskan Natural Gas Pipeline update and a session on new pipeline construction opportunities.
New Report Details Increases In Natural Gas Supply In U.S.
The Potential Gas Committee’s (PGC) 2010 biennial report: Potential Supply of Natural Gas in the United States finds nation possesses an undiscovered natural gas resource potential of 1,898 Tcf, the highest resource evaluation in the PGC’s 46 year history — exceeding by 61 Tcf the previous record-high assessment from year-end 2008.
Shale Gas Is Shaping The Natural Gas Market
While natural gas may not receive the favorable attention renewable energy sources get in federal energy policy, it continues to prove itself as a clean, dependable and abundant domestic energy source.
New Technology Produces New Opportunities And Pipeline Challenges
The Bakken, one of the best-known oil producing shale plays in North America, is responsible for a renaissance on the Northern Great Plains as oil prices stay above $100 per barrel and significantly increased oil and gas production brings record-breaking levels of wealth and investment into the region.
Midstream Development Is Vigorous In Eagle Ford Shale Play
<em></em>Since the 2008 discovery of Hawkville Field in south Texas, the Eagle Ford Shale has experienced a tremendous amount of activity. In less than three years, the shale play has become a significant portion of the region’s economy.
Dresser-Rand Acquiring Grupo Guascor
Dresser-Rand Group Inc. will acquire Grupo Guascor S.L. “GG”) for an enterprise value of euro 500 million ($690 million) in a cash and stock transaction.
Editor's Notebook: Facing The Danger
I’m going to let you in on a little secret: energy is a dangerous business. Whether laying pipeline in the hinterlands of America or the streets of Philadelphia, drilling in the Gulf of Mexico, coal mining beneath the state of West Virginia or staring at the controls of a Japanese nuclear reactor frantically trying to stem a radioactive breach after Mother Nature’s apocalyptic double-header, the energy business is fraught with unexpected danger. No one can anticipate every possible problem.
Keep Eye On Unconventional Plays, Aggressive NOC Spending, IOC Restructuring
Wood Mackenzie’s annual review of global upstream M&A suggests that peak levels of deal activity in 2010, particularly at the end of the year, bode well for another big year in 2011. The independent researchers identify four key prevailing themes that underpinned total spend of US$183 billion in 2010 as: Unconventional oil and gas, weak U.S. gas prices, restructuring among the International Oil Companies (IOCs) and aggressive spending by the Asian National Oil Companies (NOCs).
Eagle Ford Shale Generated $3 Billion In Revenue For South Texas
In less than three years of development, the Eagle Ford Shale already accounts for over 6% of the Gross Regional Product for the 24-county South Texas area it encompasses, according to a study by the Center for Community and Business Research at the University of Texas at San Antonio Institute for Economic Development.
Declining Oil Production Cited As Threat To Alaskan Economy
Alaska Sen. Lisa Murkowski warned state legislators that declining oil production presents a grave threat to the state’s economy. “Alaska’s oil production has declined 36% since 2003 even as production in many parts of the Lower 48 has increased,” Murkowski said in her annual address to the Legislature.
U.S. Oil And Gas Pay Flat, Increases Projected
A new salary survey reveals that American oil and gas industry professionals’ wages have held up well despite uncertainty in the wider economy.
Gas Production May Reach 80 Bcf/d By 2020
Ziff Energy released a report which provides a production outlook for the major gas supply basins in North America.
Capital Prompting Investment In New Technology And Talent
According to a study by BDO USA, LLP, an accounting and consulting organization, capital is flowing back into the oil and gas exploration and processing industry – more than half (56%) of CFOs report their ability to access capital and credit is either the same or better than last year.
Oil, Gas Brightened 2010 M&A Picture
Oil and gas proved a bright spot in the 2010 merger and acquisition landscape, according to Ernst & Young. Total industry transaction value topped $266 billion, up 33% from 2009. Total deal activity was up 13% from 2009, with deals reported having values that were up 2%. Midstream deals were up 71% to $25 billion. The total number of transactions in the segment was 57, up 4% from 2009.
Editor's Notebook: Improving The Odds
Bugsy Siegel, Donny & Marie, Holly Madison, Willie Nelson….all names that kept cropping into my overworked brain during our trip to Las Vegas. It was my first time there so I knew I was missing something. Exactly what that was I couldn’t be sure until we spent a few days at the posh Bellagio resort on the Strip next to Caesar’s Palace. The Bellagio was built in 1998, has 4,000 rooms, a staff of 10,000 and the world’s largest chocolate ice cream fountain. The Bellagio was recently held up in the wee hours by a helmeted bandit who ran off with $1.5 million (face value) in betting chips from the casino.
Shale Development Drives U.S. Proved Reserves To Highest Level Since 1971
U.S. natural gas proved reserves, estimated as "wet" gas which includes natural gas plant liquids, increased by 11% in 2009 to 284 Tcf, the highest level since 1971, according to the U.S. Energy Information Administration's (EIA) Summary: U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Reserves, 2009.
Integrity Engineer Chris Kobilan Returns From Active Duty In Afghanistan
Chris Kobilan, pipeline integrity engineer with American Innovations, has returned from active military duty in Afghanistan after a tour beginning in March 2009.
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
