The downturn is forcing change—for the better.
Thanks in part to low energy prices, an ongoing expansion could be one of the longest on record, Morgan Stanley’s chief U.S. economist says.
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.
A wave of cheap money chasing deals is taking the pressure to divest midstream assets off of upstream operators, while making deals more challenging.
In an April 20 statement, Huntington Ingalls Industries (NYSE:HII) announced it completed discussions with Kinder Morgan Inc. (NYSE:KMI) regarding redevelopment of HII’s Avondale shipyard in Louisiana.
Exterran Holdings Inc. (NYSE: EXH) and Exterran Partners LP (NYSE: EXLP) announced April 20 that Exterran Partners acquired assets from Exterran Holdings for consideration valued at $102.3 million.
Dan Revers, managing partner and co-founder of ArcLight, said the firm has a long track record of investing in refined products storage and pipeline infrastructure.
The facility with a syndicate of banks matures in September 2019.
The expansion will provide additional financing flexibility and liquidity to fund future growth capex.
The money will support acquisition, development and operations of midstream, downstream petrochemical and fuel assets in U.S. and Canada. Next Wave handles NGL toll processing and manufacturing, among other projects.
Riverstone Global Energy and Power Fund VI committed $67 million, and Riverstone Energy Ltd. committed $33 million. Newly formed Meritage Midstream Services III focuses on western Canadian emerging resource plays.
Midstream service provider Nuevo Dos was formed earlier in 2015. Its management team also founded Nuevo Midstream LLC, the predecessor, which was sold to Western Gas Partners LP.