Duff & Phelps experts explore potential, perils of 2015 for sector.
Both DCP Midstream Partners and Enterprise Products Partners will spend prudently in 2015 as they rely on their current asset base to weather the price decline.
During the U.S. shale boom, companies in virtually all sectors of the OGC industry lacked a “cost culture,” according to a recent study by AlixPartners. If companies are to survive the current downturn in commodity prices, they will need to plan and manage their projects for greater capital productivity.
Headlines for Boardwalk this time last year were brutal, but that seems set to change.
Wentworth will be sold to Pentagon Energy LLC. The CNG will be exported to Latin America. Two Morgan Stanley managers involved with Wentworth will become Pentagon principals, sources told Reuters.
Chevron Global Energy Inc. will sell its stake in refiner Caltex Australia Ltd., Business Wire said. Bloomberg said this marks Chevron’s exit from shale gas in Beach Energy’s Nappamerri Trough.
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.
The shares were priced at AU$35 each, and proceeds will be $135,000,035. San Ramon, Calif.-based Chevron will receive the cash proceeds upon settlement on April 2.
Net proceeds are expected to total $793.8 million. They will repay outstanding commercial paper program amounts and support general partnership purposes.
Moda was formed in early 2015 and its four founding partners previously were members of the executive team at Oiltanking North America LLC and Oiltanking Partners LP.
On April 6, the proceeds will redeem US$700 million in long-term debt that matures in 2017 and CA$750 million in long-term debt that matures in 2018.