Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
The inaugural Midstream Finance conference took place this week in Dallas and almost as if right on cue we lead with a big midstream deal. Oklahoma City-based Enable Midstream Partners agreed to acquire Velocity Midstream, a private crude oil and condensate gathering and transportation company in the Anadarko Basin’s Scoop and Merge plays. The deal is for $442 million. On the same day, Enable also announced a crude oil and water acreage dedication in the Williston Basin. Analysts with Tudor, Pickering, Holt & Co. said the concurrent announcements by Enable doubles down on the company’s strategic pivot to liquids.
Endeavor Energy Resources is exploring a sale that could value the Midland, Texas-based, privately held oil producer at more than $10 billion, a source familiar with the matter told The Wall Street Journal. Endeavor, which holds more than 300,000 net acres in the Permian Basin, has selected JP Morgan Chase and Goldman Sachs to arrange the potential sale, the Journal’s source said.
Hilcorp Energy’s long-awaited oil and gas production facility in federal waters off Alaska received conditional approval from the U.S. Department of the Interior this week. Hilcorp is seeking to build a nine-acre artificial gravel island in shallow waters of the Beaufort Sea.
In Mexico, Pemex is set to begin crude imports in November, for the first time in over a decade. It needs them to feed Mexico’s main refinery, which is working below capacity due to a lack of light oil. But that didn’t stop president-elect Andres Manuel Lopez Obrador from criticizing the plan to import U.S. light crude from Phillips 66, calling it a sign of the country’s failed economic policies. The purchase of 1.4 million barrels of Bakken crude will follow a tender awarded earlier this week to Phillips 66. Up to 100,000 barrels per day of crude imports are planned for the last quarter of 2018.
Finally, Norway’s oil services firm Aker Solutions expects to win a lease offshore California to build a floating wind farm as part of a wider consortium, the company’s CEO said. The consortium of private companies applied for a lease to build a 100- to 150-megawatt floating offshore wind farm off the coast of Humboldt County by 2024.
Recommended Reading
CERAWeek: Tecpetrol CEO Touts Argentina Conventional, Unconventional Potential
2024-03-28 - Tecpetrol CEO Ricardo Markous touted Argentina’s conventional and unconventional potential saying the country’s oil production would nearly double by 2030 while LNG exports would likely evolve over three phases.
DUG GAS+: Chesapeake in Drill-but-don’t-turn-on Mode
2024-03-28 - COO Josh Viets said Chesapeake is cutting costs and ready to take advantage once gas prices rebound.
CERAWeek: Trinidad Energy Minister on LNG Restructuring, Venezuelan Gas Supply
2024-03-28 - Stuart Young, Trinidad and Tobago’s Minister of Energy, discussed with Hart Energy at CERAWeek by S&P Global, the restructuring of Atlantic LNG, the geopolitical noise around inking deals with U.S.-sanctioned Venezuela and plans to source gas from Venezuela and Suriname.
Exclusive: Chevron Balancing Low Carbon Intensity, Global Oil, Gas Needs
2024-03-28 - Colin Parfitt, president of midstream at Chevron, discusses how the company continues to grow its traditional oil and gas business while focusing on growing its new energies production, in this Hart Energy Exclusive interview.
Baltimore Port Closure Could Dent US Coal Export Volumes, EIA Says
2024-03-28 - Baltimore handled exports of 28 million short tons last year, making up 28% of total U.S. coal exports.