Oil-price volatility is creating a nightmare for petrochemical companies planning investments, according to Don Bari, vice president of technology and analytics for IHS Chemical and author of the report.
‘We think capital’s really interested in midstream assets and infrastructure,' says energy consultant Arthur Gelber.
After a comment during a recent Plains All American earnings call, analysts reevaluate the outlook for U.S. midstream infrastructure needs.
Green Plains Partners LP seeks ownership, operatorship and expansion of downstream logistics assets supporting Green Plains’ 1.2 billion gallon per year ethanol marketing and distribution business, an SEC filing said.
Enbridge Pipelines Inc. and Enbridge Pipelines Athabasca Inc. comprised the business. An indirect subsidiary of the fund acquired the business for CA$30.4 billion and incentive/performance rights.
About 1,000 miles of low- and high-pressure natural gas gathering pipelines and a cryogenic processing plant will serve Martin, Midland and Glasscock counties, Texas. Private-equity firm Warburg Pincus financed transaction.
Canexus Corp.’s North American Terminal Operations crude-by-rail transloading facility has connections to Cold Lake and Access crude oil pipeline systems, and links to Canadian Pacific and Canadian National rail lines.
The Tulsa, Okla.-based company is working to quickly reduce debt just two weeks after closing its $2.75 billion acquisition of privately held RKI Exploration & Production LLC.
Barclays Plc hired Zach Jordan as a managing director in its natural resources group, based in Houston. Jordan was previously a managing director at Citigroup's global energy group, Reuters said.
Average yield on U.S. junk-rated energy companies rose to more than 12% Aug. 24, Bank of America Merrill Lynch data said- the highest level since the financial crisis, Reuters said.
Almost all of the weakness was from the U.S. market, where BMO, Canada's fourth-largest bank, has a significant presence. U.S. energy companies tend to have more debt, Reuters said.
Denver-based Evolution was launched in July and provides greenfield and strategic acquisition solutions to operators in the Rockies, Bakken Shale, Permian Basin, Midcontinent and Appalachia.