Alliance declared force majeure on its 2,400-mile pipeline taking gas and NGL from western Canada and North Dakota to Chicago market after finding poisonous hydrogen sulfide, Reuters said.
Commodity prices continue their summer slump, but fall and winter should provide modest upticks.
Producers and operators are adjusting to new market dynamics as export demand replaces heating demand as the largest mover for propane prices.
The acquisition of private company RKI Exploration & Production adds 3,600 locations in the Permian Basin and continues WPX’s climb up in the oil producing ranks.
The MLP structure is still viable, Emily Hsieh, director of operations for MLP indexing firm Alerian, told Bloomberg. Recent Williams Cos.-Kinder Morgan Inc. consolidation efforts left investors questioning the model.
Marathon sponsored MPLX will purchase MarkWest for a 32% premium, creating the fourth largest MLP with a $21 billion market cap.
The first of two Robstown fractionation trains are handling about 32Mbbl/d of y-grade. The second train is in the commissioning phase, and is scheduled to be operational in August.
NGL prices went through their roughest patch since 2008, but questions still remain over whether the market’s recovery has begun or not.
The Lucerne 2 natural gas processing plant connects to the Front Range Pipeline for NGL takeaway to Mont Belvieu, Texas.
DCP has a one-third ownership interest in the pipeline.
Looking to future exports of natural gas and NGL for an answer to price woes may lead to disappointment, an analyst says.
Enbridge Income Fund Holdings Inc. will buy Enbridge Inc.’s Canadian liquids pipeline business and some renewable energy assets for C$30.4 billion (US$24.8 billion), Bloomberg said.
Ethane’s future is hopeful with new steam cracking capacity under construction, but prices too low to support transportation and processing costs present other pitfalls.