Midstreamers Announce Open Seasons

Midstreamers Announce Open Seasons

Dallas-based Navigator Energy has launched a binding open season for expansion of the company’s planned Borger Express Pipeline, which will extend from the Cushing Hub to Borger, Texas. The system will include an existing 180-mile crude oil pipeline and 200 miles of new pipe that will stretch from Cleo Springs, Okla., to Borger. Upon completion in early 2022, the Borger Express will be capable of transporting 90,000 BPD of five neat grades of crude oil and condensate bound for third-party storage facilities and a refinery in Borger. The call for shipper commitments runs from Oct. 5 – Nov. 5. Turning to the West, Dallas-based Holly Energy has announced a binding open season to expand crude oil capacity to 56,000 BPD on its 289-mile Frontier Aspen Pipeline. The Frontier Aspen, which runs from Casper, Wyo., to Frontier Station, Utah, connects to the company’s SLC Pipeline that ultimately delivers crude to Salt Lake City refiners. Commercial service is expected in 3Q 2021. Open season extends from Oct. 1 – Oct. 22.

Navigator Energy

Navigator Energy Services is a growth-oriented, independent midstream company focused on developing and delivering midstream infrastructure solutions for America’s energy producers. The company’s sole focus is to provide its customers with comprehensive midstream solutions that maximize both operational flexibility and the value of their hydrocarbons.

www.nesmidstream.com

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Learn more about Reese Energy Consulting and our range of midstream services at www.ReeseEnergyConsulting.com.​

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Targa Announces Open Season; Excelerate Expands LNG Fleet

Targa Announces Open Season; Excelerate Expands LNG Fleet

RMR features the latest high-point news to keep you to up to date with midstream activities happening in the basins and shale plays that matter to you most.

Targa Launches Open Season on Proposed NGL Interconnection

With more than 2,000 miles of NGLs pipelines, Houston-based Targa Resources now has its eye on building a new interconnection to link upstream pipeline facilities in the Anadarko Basin at Kingfisher, Okla., to the company’s fractionation facilities at the Mont Belvieu, Texas, NGL hub.

Targa has announced an open season from July 1-31 to gauge shipper interest on a proposed interconnection in Kingfisher where, following construction of a new 110-mile extension of the company’s Grand Prix NGL pipeline, will connect supplies to Williams’ Bluestem Pipeline. The Bluestem originates from Williams’ fractionator in Conway, Kan., and the terminus of Overland Pass Pipeline to Targa’s Grand Prix. Commercial service on the 188-mile Bluestem and the Grand Prix extension is expected in 1Q 2021.

Excelerate Adds 10th LNG Tanker to FSRU Fleet

While the nation’s LNG industry has largely fixated on the development of multi-billion-dollar export terminals that takes years to construct, Excelerate Energy has taken a whole different direction. And by “whole different,” we mean a complete 180-degree turn that’s put this company on the global map.

 Headquartered in The Woodlands, Texas, Excelerate puts its money on imports, converting LNG to natural gas aboard its fleet of floating storage regasification units (FSRUs). From the offshore vessel, gas flows to shore by way of an underwater pipeline where it’s distributed to power plants and homes. Excelerate owns import LNG terminals from Boston to Bangladesh and has secured the title of operating the largest fleet of FSRUs in the world, in addition to pioneering ship-to-ship transfer of LNG. Excelerate now has added a 10th FSRU to its fleet—the Excelerate Sequoia—which can store 173,400 cubic meters of LNG and act as an offshore import terminal to deliver natural gas to communities and nations near and far.

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The Money Backers:  Warburg Pincus

The Money Backers: Warburg Pincus

In RMR’s continuing series The Money Backers, we give readers a glimpse of who’s who and who owns what in energy’s private equity world.  From the largest to the smallest to the newest, we look especially at those firms making hay in the midstream industry to provide the capital infusion required to give growth projects liftoff.

Warburg Pincus

Warburg Pincus LLC is a New York-based private equity firm focused on growth investing with offices in the United States, Europe, Brazil, China, Southeast Asia and India. It has been a private equity investor since 1966.

www.warburgpincus.com

With more than $54 billion in managed assets, global powerhouse Warburg Pincus spreads its investment wealth across seven industries that range from retail diamonds in India to real estate across Asia. This private equity firm also counts energy as a primary focal point with 31 portfolio companies in the upstream, midstream, downstream, electrical power and renewables sectors. Since the late 80s, Warburg Pincus has invested or committed $10+ billion in energy-related companies and infrastructure projects around the world.

In the U.S. midstream space, WP banks on natural gas and Navitas Midstream. Based in The Woodlands, Texas, Navitas operates more than 1,800 miles of gas gathering pipelines and five cryogenic gas processing trains in the Permian Basin. Through newbuilds and acquisitions, Navitas in less than six years has created one of the Permian’s busiest midstream complexes serving the Midland. The company in 2019 completed its latest gathering project in southern Glasscock and northern Reagan counties that includes 34 miles of pipe with 200+ MMCFD of capacity and 25,000+ hp of three-stage field compression.

Warburg Pincus’ upstream investments in the U.S. include Antero Resources (Marcellus and Utica), Chisholm Energy (Permian, northern Delaware),  Ensign Natural Resources (Permian, South Texas), Hawkwood Energy (Rockies and Mid-Continent), Independence Resources Management (Permian, Anadarko), and Laredo Petroleum (Permian, Mid-Continent).

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The Money Backers:  Energy Spectrum Capital

The Money Backers: Energy Spectrum Capital

In RMR’s continuing series The Money Backers, we give readers a glimpse of who’s who and who owns what in energy’s private equity world.  From the largest to the smallest to the newest, we look especially at those firms making hay in the midstream industry to provide the capital infusion required to give growth projects liftoff.

Private equity may have shut the door on investment capital for certain segments of the oil and gas industry, but Dallas-based Energy Spectrum Capital is leaving their door wide open for new midstream opportunities. This investor—the longest-operating midstream PE group in the nation—finds its niche with lower, middle-market companies that acquire, develop, and operate North American midstream assets. ESC has just announced the final close of its eighth midstream private-equity fund amounting to $996 million, and by all accounts looks to shop for more assets with an eye on gathering and transportation systems, processing and treating plants and storage facilities. Since its inception in 1995, the firm has raised more than $4.5 billion in capital for 63 portfolio companies. The previous Energy Spectrum Partners VII fund closed in 2014 at $1.225 billion.

Energy Spectrum Capital

Energy Spectrum Capital is a private equity infrastructure firm that focuses on the energy industry. The firm also manages private equity funds that make direct investments in the companies that acquire, develop and operate midstream energy assets.

energyspectrum.com

 For now, ESC’s investments are spread across 15 midstream operators. But with nearly one $1 billion in pocket—and a ripe-for-the-picking environment—expect that number to increase in short order. Here are a few of the growth vehicles currently supported by Energy Spectrum.

  • Houston-based Azure Midstream operates 479 miles of natural gas pipeline, providing gas gathering, compression, treating and processing in north La., and East Texas. The company’s Holly System serves the “core of the core” of the Haynesville and consists of 361 miles of high- and low-pressure pipeline, two amine treating plants and four compressors. The Shelby System, which also services the Haynesville and Bossier formations, includes 126 miles of pipe, one amine treating plant, and access to four major pipeline interconnects.
  • From its home base in Plano, Texas, BlueJack Energy Solutions develops and operates wastewater solutions for Permian producers. Customers include Laredo Petroleum, Occidental, Sable Permian Resources, Arch Oil & Gas, and Discovery Natural Resources.
  • With 61 bulk liquids tanks and barge, rail and truck capabilities, Houston-based Bluewing Midstream is expanding its storage facilities to add 1.9 MMBbls of new storage capacity, as well as adding shipping connections at the Port of Brownsville.
  • Caliche also focuses on storage but on the subsurface side. Headquartered in Houston, this company owns and operates a 5 MMBbl salt cavern on the Texas Gulf Coast that can accommodate 600 lbs of ethylene at maximum capacity. Growth projects ahead include a large expansion to provide 32 MMBls of salt dome storage capacity.
  • In a joint venture with Concho Resources, Tulsa-based Frontier Energy Services built and sold the 500-mile Alpha Crude Connector in the Northern Delaware in 2017 to Plains All American for $1.215 billion. Frontier’s latest project, the Beta Crude Connector, will consist of 100 miles of crude oil pipe and approximately 250,000 Bbls of operational storage in the Midland.
  • City-based Great Salt Plains Midstream operates crude oil and natural gas infrastructure serving producers in the state’s STACK play. The company’s assets include 317 miles of crude pipe, 137 miles of natural gas pipe, two cryogenic plants, and the 115-mile Great Salt Plains Pipeline which extends from Cherokee to the Cushing Hub.

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