Companies

Shell Midstream's Revenue Slides During Active Storm Season

Shell Midstream Partners said third-quarter revenues took a $10 million hit during hurricane season, which is likely to cause more financial damage through the end of the year.

Canada's Cenovus to Buy Husky for $2.9 Billion

Canada's Cenovus Energy has agreed to purchase Husky Energy for nearly $3 billion as the industry is forced to consolidate amid the pandemic continues to suppress demand.

Kleinfelder Completes Acquisition of Gas Transmission Systems

San Diego-based Kleinfelder Group said it has acquired utilities and pipeline services firm Gas Transmission Systems (GTS) for an undisclosed sum.

ConocoPhillips to Buy Concho Resources for $9.7 Billion

ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources Inc for $9.7 billion, as the energy sector continued to consolidate amid lower fuel prices and demand.

North American Energy Bankruptcies Pile Up in Third Quarter — Haynes and Boone

Law firm Haynes and Boone said a perfect storm of weak fuel demand due to the COVID-19 pandemic, a collapse in crude prices, and shrinking amounts of available credit all caused North American energy bankruptcies to pile up in Q3.

Saudi Aramco, Investors Discussing $10 Billion Pipeline Deal — Sources

Sources have reported that Saudi Aramco is in talks with asset firm BlackRock as well as other investors about selling a $10 billion stake in its pipeline assets.

U.S. Energy Companies Begin Restoring Oil and Gas Output After Hurricane

Several U.S. oil and gas companies began the process of restarting production at facilities along the country's Gulf Coast on Sunday, two days after Hurricane Delta hammered the area with 100 mph winds.

TransAlta and Tidewater Midstream Agree to Sell Pioneer Pipeline

TransAlta and Tidewater Midstream have agreed to sell the Pioneer Pipeline to ATCO Gas and Pipelines for CDN $225 million.

Opposition Team Criticizes Enbridge Plans for Line 5 Tunnel

Experts who reviewed project documents on behalf of opposition groups said Enbridge's plans for drilling an oil pipeline tunnel beneath a channel linking two of the Great Lakes do not meet industry standards.

Devon Energy to Buy Shale Peer WPX for $2.56 Billion in Delaware Push

U.S. oil and gas producer Devon Energy Corp said on Monday it will buy Permian basin peer WPX Energy Inc for $2.56 billion as it looks to scale up its presence in the Delaware portion of the prolific shale field.

ConocoPhillips Sees Global Oil Demand Returning, Executive Says

U.S. oil producer ConocoPhillips sees global demand returning to 100 million barrels per day and growing from there, with oil an "important part of the energy mix in any scenario" going forward, a senior executive said.

Atlantic Bridge Gas Compressor Station gets U.S. Approval

U.S. regulators have given Enbridge final approval to put its Weymouth natural gas compressor station in service.

Max Midstream Acquires Seahawk Pipeline and Terminal with Plans to Expand

Max Midstream acquired the Seahawk Pipeline and Terminal at the Port of Calhoun in Texas with ambitious plans for a new pipeline to deliver Eagle Ford and Permian crude to an expanded port.

Ingleside Pipeline Begins Shipping to Moda's Ingleside Energy Center

Harvest Midstream announced the successful commissioning of two connections between Harvest’s Ingleside Pipeline and Moda Midstream.

Companies in the News

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Tellurian Cuts Pipelines to Reduce Phase 1 Costs at U.S. LNG Export Plant

Tellurian has announced it is cutting three pipeline projects to reduce costs for its Driftwood LNG export facility in Louisiana.

Sempra Energy Says Cameron LNG Plant Launches Full Commercial Operations

Sempra Energy has announced that its $10 billion Cameron LNG export facility in Louisiana has entered full commercial operations.

Kinder Morgan Gets OK to Put 9th Unit at Georgia Elba LNG Plant in Service

Kinder Morgan has received approval from U.S. energy regulators to place the 10 liquefaction unit at its Elba Island LNG plant into service.

New Midstream Joint Venture to Provide Permian Basin NGL Takeaway Capacity

Three U.S. midstream companies have formed a new joint venture to provide transport solutions for natural gas liquids in the Permian Basin.

BP Midstream Pipeline Volumes Fall 10% in Q2, Revenues Up

BP Midstream announced that pipeline volumes fell 10% in Q2 due to shrinking demand caused by the coronavirus pandemic while revenues for the company rose over the same period.

Cheniere Energy Accelerates LNG Plant Expansion Amid Q2 Profit Gains

Cheniere Energy is planning to accelerate the planned expansion of two of its LNG export facilities in Texas after being analyst profit estimates in Q2.

U.S. Appeals Court Allows Dakota Access Pipeline to Keep Running

A U.S. appeals court on Wednesday said that the Dakota Access Pipeline does not have to be shut and drained per a lower court order.

Freeport Seeks More Time to Build Train 4 at Texas LNG Facility

Freeport LNG has requested more time to complete its proposed fourth liquefaction train at its LNG facility in Texas.

Equitrans Confirms Early 2021 Startup for Mountain Valley Natural Gas Pipeline

Equitrans Midstream confirmed on Tuesday that the company plans to start up its Mountain Valley natural gas pipeline by early 2021.

National Fuel Completes Acquisition of Shell Pennsylvania Upstream and Midstream Assets

National Fuel announced it has completed the purchase of upstream and midstream assets in Pennsylvania from a subsidiary of Shell.

MPLX Sees $100 Million Earnings Hit if Bakken Oil Pipelines Shut

MPLX, the midstream branch of energy firm Marathon, announced it could begin losing $100 million a year if closures of two North Dakota pipelines were to take effect.

Shell Midstream Cuts Costs as Demand Destruction Hits U.S. Pipeline Flows

Shell Midstream has announced spending cuts as demand fell across many of its U.S. pipeline operations.

Dominion Overhauls Leadership, Announces New CEO

Dominion Energy on Friday announced a reorganized executive leadership team, including a new CEO, as it reported a $2.8 billion second-quarter charge related to the cancellation of the Atlantic Coast natural gas pipeline.

Dominion Takes $2.8 Billion Charge to Exit Atlantic Coast Project

Dominion Energy announced on Friday the company took a nearly $3 billion charge in the second quarter due to the cancellation of its Atlantic Coast natural gas pipeline.

Enbridge Sees Improving Mainline Oil Volumes

Canadian pipeline operator Enbridge on Wednesday posted a quarterly profit slightly higher than analysts' estimates and said it sees volumes growing across the Mainline, North America's biggest oil pipeline network.