Shovel, Meet Dirt

Shovel, Meet Dirt

It’s about as rare as a unicorn these days to watch an oil and gas stock price zoom into the stratosphere, but that’s exactly what happened today in pre-market trading for Houston-based Summit Midstream. Reese Energy Consulting is following the latest news from Summit, which yesterday received a FERC thumbs up to begin construction on the Double E Pipeline and associated midstream facilities. That’s all it took to send the company’s stock soaring by a whopping 51.7% before this morning’s opening bell and settling back to a still impressive 29%. Upon completion in 4Q, the 135-mile Double E will transport 1.35 BCFD of natural gas from the Permian’s Delaware to delivery points near the Waha Hub. Summit owns a 70% operating interest in the pipeline along with ExxonMobil at 30%. The project’s most recent advancement follows a rather smooth-sailing process compared with other proposed pipelines that have either been delayed indefinitely or outright cancelled out of sheer exhaustion from endless court battles. Godspeed, Double E.

Summit Midstream

Headquartered in Houston, Texas, Summit Midstream Partners, LP (NYSE: SMLP) is a value-driven master limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in unconventional resource basins, primarily shale formations, in the continental United States.

www.summitmidstream.com

What do you think? Learn more about Reese Energy Consulting and our range of natural gas and midstream services at www.ReeseEnergyConsulting.com.

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Yes, Va., (Pa., Ga., and the Carolinas), There Really Is a Santa Claus

Yes, Va., (Pa., Ga., and the Carolinas), There Really Is a Santa Claus

Tulsa-based Williams is no doubt celebrating this week’s countdown to Christmas with the completion of three pipeline expansions arriving under budget and ahead of schedule. Reese Energy Consulting today is following news from Williams with its announcement of partial in-service capacity on two Transco Pipeline projects and the 189-mile Bluestem Pipeline.  Transco’s Leidy South in Pa., will deliver an additional 582 MMCFD of natural gas to the Atlantic Seaboard, while the Transco Southeastern Trail in Va., will add 526 MMCFD of pipeline capacity to deliver gas to utility and local distribution companies in Va., N.C., S.C., and Ga. Both are expected to come fully online in 1Q 2021. Bluestem will now flow 120 MBPD of NGLs from Williams’ fractionator in Conway, Kan., to an interconnect with Targa’s Grand Prix Pipeline in Kingfisher, Okla., and further downstream to Mont Belvieu markets. As a gift that’s always merry and bright, the early completions also boosted Williams’ 4Q cash flow.

Williams Companies

The Williams Companies, Inc., is an American energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. A Fortune 500 company, its common stock is a component of the S&P 500.

www.williams.com

What do you think? Visit REC at www.ReeseEnergyConsulting.com.

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Third Coast Gets Skinny

Third Coast Gets Skinny

Houston-based Third Coast Midstream this year has shed weight faster than a Jenny Craig plan to focus exclusively on its core Gulf of Mexico infrastructure platform. The company in June sold its Southeast natural gas transmission business to Black Bear Transmission. That deal included six intrastate gas pipelines spanning 1,400 miles in Ala., La., and Miss., with a total capacity of 800+ MMCFD. In October, Third Coast sold its Cushing crude oil storage business, which consisted of five tanks and 3 MMBbls of capacity, to an affiliate of Hartree Partners. Now, just in time for gingerbread, Third Coast has divested its East Texas gathering, processing, and fractionation business to J. Global Energy Midstream, an oil trading and energy business development firm headquartered in Houston, with offices in South America, Europe, and Asia. The East Texas assets include a 710-mile oil and gas gathering system, a 23-mile inbound liquids pipeline, a 12-mile outbound liquids pipeline, three cryogenic processing plants with a total 50 MMCFD of capacity, 4,000 BPD of trucking capacity, and a rail system with 3,000 BPD of capacity.

Third Coast Midstream

Third Coast Midstream, LLC is a full-service midstream company headquartered in Houston, Texas. Their operations are focused on delivering efficient, safe, and dependable service to our customers. The company’s assets include natural gas transmission and gathering pipelines, crude oil pipelines, natural gas processing plants, NGL fractionation facilities, NGL pipelines, and terminals. 

www.3cmidstream.com

What do you think? Learn more about REC at www.ReeseEnergyConsulting.com.

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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

What do you think?

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