Later, Gator

Later, Gator

Reese Energy Consulting today is showing some love to our midstream compadres that also enjoyed a stellar Q2. Houston-based Crestwood Equity Partners is no exception but comes with a couple of interesting twists to stay tuned for. Crestwood, which operates gathering, processing, storage and pipeline systems in the Permian, Bakken, and Powder River basins, has announced second quarter revenues of $929.6 million, compared with $352.7 million in the same period last year. A staggering comeback, no doubt. But recent changes still in play could well reveal bigtime opportunities for this company on a fast track to grow, minus the ties that bind. Let’s review. Crestwood in March split the sheets with private equity backer First Reserve, which also served as general partner. In the divorce settlement, the company will shell out $400 million to buy out First Reserve’s 24% stake. In June, Crestwood and Marcellus partner Con Edison closed on the $1.23 billion sale of Stagecoach Gas Services to Kinder Morgan. Now, feeling a might freer with a little more pad in the pocket, Crestwood is biding its time to make just the right strike.

What do you think? Learn more about REC and our midstream services at www.ReeseEnergyConsulting.com.

Crestwood Equity Partners

Crestwood Equity Partners LP (NYSE: CEQP) is a publicly traded master limited partnership that owns and operates midstream assets located primarily in the Bakken Shale, Delaware Basin, Powder River Basin, Marcellus Shale and Barnett Shale. 

www.crestwoodlp.com

You Might Also Like…

Operation Bullseye

Operation Bullseye

ESG plans throughout the nation’s oil and gas industry continue to make headlines these days, and while the end goal is the same—net zero greenhouse emissions by 2050—the journey to get there has many different roadmaps. Reese Energy Consulting today is following the latest ESG report from Houston-based EagleClaw Midstream, the largest gathering and processing operator in the Permian’s Delaware. EagleClaw expects to achieve single-digit reductions in its carbon emissions level by 2025 with a plan that includes converting its fleet to electric vehicles, expanding electric compression, investing in CCS technologies, and tying 20% of employee bonuses to the company’s annual ESG goals. Okla. City-based Devon also has announced emissions-reduction plans that sweep its operations in the Delaware, Eagle Ford, Anadarko, Powder River and Williston basins. Actions will include reducing and ultimately eliminating flaring by 2030, electrifying facilities, adding air-driven pneumatic controllers, and minimizing freshwater use. Bold moves ahead.

What do you think? How can REC help you along your energy transition journey? Contact us or learn more at www.ReeseEnergyConsulting.com.

 

EagleClaw Midstream

EagleClaw Midstream is strategically located in the heart of the Delaware Basin in the Permian, one of the fastest growing areas for oil and gas development in the world. They provide the gathering, compression, processing, transportation and water management services required to bring natural gas, natural gas liquids and crude oil to market and are dedicated to providing the best service and netback for their customers.

www.eagleclawmidstream.com

You Might Also Like…