Valero first proposed building the rail facility at Benicia refinery to offload up to 70,000 barrels per day of inland U.S. and Canadian heavy crude three years ago, Reuters said.
At year-end 2015, Black Swan held more than 217,000 net acres of Montney land with more than 2,800 potential horizontal drilling locations. Black Swan has drilled 46 horizontal Montney wells.
Unusual sales of excess oil added pressure to March/April WTI futures spread, with front-month discount widening to $2.37 a barrel on Feb. 10, the most since November 2015, Reuters said.
The new facilities will receive sweet natural gas, remove water and hydrocarbons, chill and compress the gas to meet transmission pipeline requirements and recover NGL from the gas streams.
"Having a full-time presence in Houston will allow us to better support our growing customer base and attract additional talent as we enter a phase of rapid growth in our business," Tom Ramsey, CEO, said.
Midstream assets figure heavily into deal, with Dominion calculating that $425 million in EBITDA could be moved into its midstream MLP. The merger would put Eastern and Western gas market under Dominion’s roof.
The assets include 100% working interest in select Deep Basin and central Alberta gas processing facilities and related infrastructure. The majority are located in Tidewater's core West Pembina region.
At closing, expected in the first quarter of 2016, the gathering system will consist of more than 220 miles of oil, gas and water gathering lines installed in conjunction with WPX’s drilling in the Gallup oil play.
The assets would boost its natural gas footprint in Montney, one of the most attractive gas plays in North America, the company said.
Water Standard Group will now be able to deliver innovative, competitively priced water treatment solutions from small skid-mounted assemblies and mobile equipment, and larger integrated packages and modules.
The assets include Touchstone's Kerrobert, Saskatchewan facility and infrastructure. The property contributed an average of 100 barrels per day of heavy oil during the three months ended Sept. 30.
From Jan. 4 to Jan. 11, Berkshire Hathaway paid about $390 million for additional 5.1 million shares of Phillips 66, according to filings with U.S. Securities and Exchange Commission, Reuters reported.