A new study found that the continued moratoria on exploration of federal lands will result in the U.S. GDP (gross domestic product) decreasing by a cumulative US$2.36 trillion, or roughly 0.52% annually, from the period of 2009 to 2030.
In addition, the ONEOK Partners LP board of directors increased the partnership's quarterly cash distribution to 72¢ per unit from 71.5¢ per unit.
Energy Transfer Partners’ earnings for the fourth quarter of 2009 were up US$139.3 million to $477.1 million compared to the previous year’s quarter. Earnings for the fiscal year rose by $104 million to $1.5 billion from fiscal year 2008.
As production from unconventional gas plays continues to rise, new pipeline and take-away capacity projects are under way.
Spectra Energy Corp. signed a definite agreement to acquire the Bobcat Gas Storage project and its associated assets from Haddington Energy Partners III LP and GE Energy Financial Services for US$540 million.
In the third-quarter of 2013, The Laclede Group incurred acquisition-related costs of $2.2 million.
Delek Logistics Partners LP acquired, from a subsidiary of Delek US Holdings Inc., substantially all storage tanks and the sole refined products terminal at Delek US’ Tyler, Texas, refinery for $94.8 million in cash.
The new facility, which runs through March 2015, replaces a $350-million facility that was due to mature in April 2012.
Newly formed TEAK Midstream LLC secured a US$100 million investment from Natural Gas Partners, an Irving, Texas-based private equity firm, and will use the funds to acquire and develop midstream assets.
TPG Capital, the global buyout group of TPG, a private investment firm, will purchase a majority share in privately-held Valerus Compression Services, which is a provider of natural gas handling equipment and services, for US$500 million.
On the anniversary of the worst global financial collapse in recent memory, energy investment banks are on the road to recovery.