U.S.-based asset manager BlackRock Inc. and private-equity firm First Reserve took a roughly-$900 million joint stake in phase two of Mexico’s Los Ramones Pipeline project, state-owned Pemex said, Reuters reported.
The pipeline will move 80,000 barrels of crude oil from Longview, Texas, to Shreveport, La., and El Dorado, Ark. The joint venture between the companies creates Caddo Pipeline LLC.
The pipeline transports condensate from DeWitt County, Texas, to the Port of Victoria. It handles about 50 Mbbl/d. The dropdown transaction’s total cost ranges between $210 million and $220 million.
NextDecade LLC owns Rio Grande LNG. The project includes the 129-mile proposed Rio Bravo Pipeline and the Rio Grande LNG facility with six, 4.5-tonnes per year-capacity liquefaction trains, Reuters said.
The pipeline will be part of the RIO midstream and downstream system. The RIO system’s rail facility is near Loving, N.M.
Canada’s National Energy Board investigates 12 new allegations of natural gas pipeline safety code violations at TransCanada Corp., Reuters said. Allegations concern repairs, welding and personnel reporting of issues.
Cross Town will take refined petroleum products to terminals in Argo and Des Plaines, Ill., from Buckeye’s Chicago Complex in Hammond, Ind.
The Saddlehorn pipeline, estimated to cost $800 million to $850 million, will transport various grades of crude from the D-J Basin and Rocky Mountain plays to Cushing, Okla.
The equity ownership in Saddlehorn will be 40% Magellan, 40% Plains and 20% Anadarko. Saddlehorn is a limited liability company that will construct, own and operate the Saddlehorn Pipeline.
The extension was granted to allow time to finalize transportation service agreements. The open season will now end April 13 instead of March 13, the companies added
The $600 million transaction was for natural gas gathering and processing facilities, including three cryogenic gas processing plants and a gas gathering pipeline system that Coronado owns in the Permian Basin.
The proposed deal concerns wages, worker fatigue and the issue of contractors. The deal might end the Feb. 1 strike at U.S. plants handling about 20% of U.S. refining capacity, Bloomberg said.