As this year draws to a close, Midstream Business completes its first year of publication. And what a year it has been!

From January to December 2011, the midstream sector supporting E&P operators' development of unconventional resources has seen tremendous growth, unprecedented change and surprising reversals (of pipeline flows and merger deals). We've seen the birth of many new private-equity midstream companies. We've seen private companies go public. And, most recently, we've seen proposed mergers of the giants of the industry even as the supermajors split in half.

In some cases, we've expanded editorial coverage from pipelines, processing and storage to include trains and trucking, as those sectors have unexpectedly grown in the newest unconventional plays before the more typical midstream sectors could catch up.

In other cases, we've cancelled coverage when Midwest floods precluded travel for cover stories.

As many of the industries' top executives have documented within these pages—we've never seen the likes of such change. For example, as new oil and gas frontiers are opened, such as the Marcellus, the Bakken, and the soon-to-be Utica development, the demand for take-away and processing has exceeded all expectations. What was a fairly dormant industry has become the wild, wild west (and east, and south). Billions have been spent hooking up wells to markets, and this is only the beginning.

Meanwhile, after the explosion of the PG&E pipeline in San Bruno, California, the pipeline sector has come under intense scrutiny from the public and legislators, driving new pipeline regulations which will continue for years to come. For example, had the San Bruno incident not occurred, the current and highly publicized protests against the proposed Keystone XL likely would not have reached all the way the White House.

On the other hand, the San Bruno outcry is driving pipeline replacements in the utility sector. For example, Vectren Corp. plans to replace more than 1,700 miles of aging bare steel and cast iron pipeline infrastructure with plastic pipes throughout its service territories in Indiana and Ohio. Other industry insiders believe such similar replacements in Texas could cost as much as $500 million.

In this issue, we take a look back at the major opportunities and challenges presented to the midstream in 2011. We name the top natural gas producers and gas liquids processors and consider the future of the gas storage industry. We focus on the Granite Wash play (with map), the Utica shale potential, and present an in-depth analysis of the "shale revolution." We present case studies and stories about pipeline replacement and recycling. And we take a yearend look at new product technologies and, particularly, modular gas-fired field power plants.

Also, we take a look forward into 2012. Going forward, Midstream Business expects to see closer alignment with upstream, midstream and downstream plans, objectives and business processes. Although some of the largest companies will separate their upstream, midstream and downstream units, we predict closer cooperation in solving problems such as infrastructure buildouts without creasting excess capacity, the balance of ethane production and consumption, natural gas liquids processing joint ventures, storage complexes constructed in the right place at the right time, and more. Join us as we continue on this journey.