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As a popular social media blogger, Steve Reese has gained an exceptional following from oil and gas professionals across the country who follow his posts throughout the week. His articles regularly trend among the top contributors in the energy industry with the news, information and insight that’s made him a fresh thought leader.
With an eye on mid-market infrastructure across the utility, energy and transportation spheres, N.Y.-based Basalt Infrastructure Partners looks for investments with “inflation linkage and high barriers to entry.” Translation: companies with predictable, long-term cash flows that typically have medium- to long-term contracts, and capital-intensive assets that limit the number of natural competitors.Read More
All dressed up and nowhere to go.
That best sums up the latest dilemma crude oil producers face as storage capacity grows more strained by the week. In response, the federal government has said “fill ‘er up” at the U.S. Strategic Petroleum Reserve, making available an initial 30 MMBbls of crude storage to be followed by another 47 MMbls of capacity, to help E&Ps find their supplies a place to land. At least for now.
Consolidation in the midstream space continues this week with the latest news from Houston-based Black Bear Transmission, which will acquire Ozark Gas Transmission (OGT) and Ozark Gas Gathering (OGG) from a subsidiary of Canada-based Enbridge. If you’re keeping count, that’s four name drops in one sentence but hang with us as we peel back the layers.Read More
The Midship Pipeline has been a long-suffering test of wills for Houston-based Cheniere Energy now awaiting FERC approval to begin initial service. Cheniere ranks as the second largest LNG operator in the world and natural gas is its lifeblood. The 200-mile natural gas Midship, which extends from Okla.’s Anadarko Basin to Gulf-bound interconnects, hit serious roadblocks during the course of construction with delays that included last year’s monumental rains and flooding, unexpected third-party changes, and a FERC stop-work order.Read More
While the world would appear to be at a standstill to wait out the Caronavirus and its yet-to-be determined aftermath, companies across every industry are communicating their COVID-19 plans to safeguard employees, reassure customers, and support the communities where they operate. Not surprisingly, many of these companies now are being graded by their responses to a crisis never before witnessed—and those grades are factoring into stock prices. Such is the case with Tulsa-based Williams, one of the largest natural gas pipeline operators in the U.S., which received an A grade.Read More
Storage of crude oil and refined products has now become a Spandex-tight issue for producers in the busiest basins looking to stash their goods amid skyrocketing inventories. Pipeline companies are urging E&Ps to cut back production to not risk further man-made declines of prices. Meanwhile, midstream operators that offer storage capacity face an interesting turn of events in which one journalist summed up, “Storage tends to be a ho-hum business, until it isn’t.”Read More
N.Y.-based Global Infrastructure Partners (GIP) joins an elite group of private-equity firms that tether their investments to core infrastructure around the world. From international airports to power plants in South America and marine hubs in Australia, GIP also backs an A-list of energy players in the U.S. that operate critical bones in the oil and gas, LNG, water, wind, solar, and renewables sectors.Read More
The good news came this week for Okla. City-based Enable Midstream, which received FERC approval of its rate case settlements with all firm-capacity customers of the company’s Mississippi River Transmission system (MRT). In anticipation of the approval, Enable announced in February it expects 2020 revenues from MRT to increase by $7 million, or $87 million this year.Read More
The U.S. government deems 16 sectors of our nation’s economy as critical infrastructure, citing that—without a stable energy supply—health and welfare are threatened, and the economy cannot function. The midstream industry, in particular, bench presses virtually every business, household and community to ensure vital fuels are gathered, transported, processed, refined and exported wherever they are needed. Which is every day. Around the clock. All year long. Our nation’s dependence on energy infrastructure isn’t simply limited to growth and production that keep our economy alive and breathing, but to our very way of life.Read More