The company has averaged $1 billion in acquisitions annually during the past five years.
Despite price increases this week, ethane prices are expected to struggle until winter at the earliest.
A sluggish summer for commodity prices is fast drawing to a close and producers can only hope that a repeat of last winter will spur demand and increase prices for propane and natural gas.
As we enter August, the winter of 2014 is a distant memory along with the gas shortages and high prices that it brought with it. The first week of August 2014 looks an awful lot like the same time last year with one key difference: even worse NGL prices and improved gas prices. It’s the worst of both worlds for NGL producers as frac spread margins are now worse off than a year ago.
NGL prices improved the week of Sept. 3 as several ethane crackers returned to service after undergoing unexpected turnarounds.
Mont Belvieu ethane prices improved alongside natural gas prices as a result of an increase in late summer cooling demand. However, gains were small and frac spread margins continue to be challenged as they remained firmly negative for the final week of August.
Enbridge Energy Partners LP (EEP) received a proposal initiated by Enbridge Inc., under which Enbridge would drop down its 66.7% interest in the U.S. segment of the Alberta Clipper Pipeline to EEP for total consideration of about $900 million.
A 28-year crude oil production high in August led the U.S. Energy Information Administration to raise expectations for 2015 production.
Rimrock Midstream LLC and NGL Energy Partners LP announced a binding open season for the proposed Grand Mesa Pipeline.
Key North American Hub Prices: September 16, 2014
Spectra Energy Corp., Spectra Energy Partners and Northeast Utilities announced details of the Access Northeast project, designed to meet natural gas demand in New England.
Key North American Hub Prices: September 15, 2014
The dominant players remain atop our processor and NGL producer rankings with large merger and acquisition moves being the big story of the year.
Company’s strategy centers around developing specific plays, CEO McClendon says.
Kinder Morgan Energy Partners LP announced the launch of a binding open season to solicit commitments for the previously announced Utica To Ontario Pipeline Access (UTOPIA) project.
Pennsylvania-based The Linde Group added a petrochemical plant business unit to its engineering division offices in Houston, Texas.
According to the latest report from research and consulting firm GlobalData, Global polypropylene capacity increased at a compound annual growth rate (CAGR) of 5.2% from 2003 to reach 65 million tons per year (mtpy) in 2013.
Houston-based Westlake Chemical Partners LP, a limited partnership formed to operate, acquire and develop ethylene production facilities and related assets, launched its IPO of 11,250,000 common units representing limited partner interests.
Koch Industries Inc.’s subsidiary Flint Hills Resources LLC significantly expanded its chemicals business with the completion of its purchase of PetroLogistics LP and its general partner, PetroLogistics GP LLC.