Companies

Pioneer Natural Resources Denies Report of Acquisition of Range Resources

Oil and gas explorer Pioneer Natural Resources Co. said on Friday that it was not pursuing any business combinations, after Bloomberg News reported that the oil and gas explorer was considering an acquisition of smaller U.S. rival Range Resources Corp.

Abu Dhabi's ADNOC Looks to Raise Up to $2 Billion from IPO of Gas Unit

State oil giant Abu Dhabi National Oil Co. (ADNOC) said on Thursday it has set a price range for an initial public offering (IPO) of its gas unit that could raise up to $2 billion and give ADNOC Gas an equity valuation of $47 billion to $50.8 billion.

Tokyo Gas Cuts Shareholder Returns to Invest in Decarbonization

Japan's Tokyo Gas will cut shareholder returns from the next financial year and use freed up funds to invest in technology to slash its carbon emissions, the company said on Wednesday. The company will pay out 40% of profits from the current 50% from the next financial year, it said.

CenterPoint Energy Misses Quarterly Profit Estimates on Higher Costs

CenterPoint Energy Inc. narrowly missed the fourth-quarter profit estimates on Friday, as higher costs hit the U.S. electric and gas utility firm.

Canada's Cenovus Names Jon Mckenzie as New CEO, Posts Quarterly Profit

Cenovus Energy named COO Jon McKenzie as its next president and chief executive on Thursday, as Canada's second-largest oil and gas producer swung to a fourth-quarter net profit from a loss last year.

Sources: Abu Dhabi's ADNOC to Float 4% of Gas Business

Sources told Reuters last month that ADNOC was eyeing a valuation of at least $50 billion for its gas business, which would translate to proceeds from the IPO of roughly $2 billion, according to Reuters calculations.

Williams Closes Acquisition of MountainWest Natural Gas Transmission, Storage Business

(P&GJ) — MountainWest comprises roughly 2,000-miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling approximately 8 Bcf/d of transmission capacity. MountainWest also operates 56 Bcf of total storage capacity, including the Clay Basin underground storage reservoir, providing valuable service to western markets.

KÖBERL Group Expands into Pipeline Cleaning Sector with Recent Acquisitions

(P&GJ) — Gimv’s portfolio company KÖBERL Group has strengthened its main location in Munich in the field of pipeline cleaning and wastewater technology by acquiring established specialists Rohrreinigungs-Service RRS GmbH and THG Abwassertechnik GmbH, the company announced on Feb. 9.

Equinor Shares Spike as Gas Bonanza Lands Record Profit

Equinor posted a record $74.9 billion adjusted operating profit on Wednesday, more than doubling its previous high and sending the Norwegian oil and gas producer's shares up more than 7%.

AMPP Appoints Dr. Amir Eliezer as New Board Chairman

(P&GJ) — The Association for Materials Protection and Performance (AMPP), a global nonprofit representing corrosion and coatings professionals and industries in 130 countries, has named Professor Amir Eliezer, Ph.D., as chair of the board of directors. His term began on January 1, 2023.

Companies in the News February 2023

Companies in the News February 2023

CRC Evans Launches Welding and Coating Services Business Following Quadruple Merger

(P&GJ) — The merger sees Pipeline Technique, CRC-Evans Pipeline International, Pipeline Induction Heat and Global Project Services unite under the CRC Evans banner, accelerating the company’s ambition to be the world’s leading provider of welding and coating services for the energy and wider infrastructure sectors, including emerging energies, as the global transition gathers pace.

Companies in the News January 2023

Companies in the News January 2023

Gas Starts Flowing to Freeport LNG Export Plant in Texas

Freeport LNG's long-shut LNG export plant on the Texas Gulf Coast started receiving pipeline natural gas over the long U.S. Martin Luther King Jr holiday weekend, according to Refinitiv data.

Pipeline Operator Kinder Morgan Beats Profit Estimates; CEO to Step Down

U.S. pipeline operator Kinder Morgan on Wednesday announced fourth-quarter earnings of $1.4 billion, topping analysts' estimates, and said long-time CEO Steve Kean will step down after eight years in the role.

Companies in the News December 2022

Companies in the News December 2022

Argentina’s YPF Nearly Triples Q3 Profit on Upped Production, Prices

Argentina's national oil company YPF reported on Wednesday it nearly tripled its third-quarter net profit compared to the same period last year as production and prices rose.

Gas Producer EQT Expected to Buy THQ Appalachia for $5.2 Billion

The deal, expected to close in the fourth quarter, will add an estimated 800 MMcf/d of gas equivalent production for EQT, and includes pipeline infrastructure supporting that production, the company said.

Companies in the News September 2022

Companies in the News September 2022

Retiring EnLink Founder Davis Recounts Decades of Change

(P&GJ) — EnLink Midstream Chairman and CEO Barry E. Davis is stepping away from EnLink, the company he founded and led for more than 25 years. In this exclusive interview with Pipeline & Gas Journal, Davis discusses what it takes to get a pipeline built today, the importance of carbon capture efforts in the coming years, and he also picks a couple of his favorite pipeline projects from his career.

Pipeline Technique Successfully Acquires Stanley’s Oil and Gas Division

Pipeline Technique, a market leader in the onshore and offshore infrastructure welding, coating, and technological engineering sector, has completed its transformational acquisition of a trio of industry-leading energy infrastructure businesses from Stanley Black & Decker.

Companies in the News August 2022

Companies in the News August 2022

Tellurian Completes $126 Million Acquisition of Haynesville Natural Gas Assets

Tellurian Inc. subsidiary Tellurian Production LLC said on Thursday it has closed the previously announced acquisition of certain assets in the Haynesville Basin from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners LLC.

Pipeline Operator DCP Midstream Receives Acquisition Proposal from Phillips 66

U.S. refiner Phillips 66 on Wednesday offered to acquire the public units of DCP Midstream in a deal that would value the pipeline operator at $7.2 billion and bulk up Phillips' natural gas liquids business.

Pipeline Operator Energy Transfer Completes Sale of Stake in Energy Transfer Canada

Energy Transfer LP has completed the sale of its 51% interest in Energy Transfer Canada ULC (Energy Transfer Canada) on Tuesday to a joint venture which includes Pembina Pipeline Corporation and global infrastructure funds managed by KKR.

Shell USA, Shell Midstream Partners to Merge in $1.96 Billion Deal

Shell USA Inc. has agreed to merge with Shell Midstream Partners LP in a deal valued at $1.96 billion, the company said on Monday.

Companies in the News July 2022

Companies in the News July 2022

Marcellus, Utica Operators Post Victories, Recalibrate

To be sure, it has not been an easy road, but of all the projects that have been completed this year, the Mariner East system may be midstream’s most satisfying – it certainly has been for those in the Marcellus and Utica shale plays of Pennsylvania, West Virginia and Ohio.

Enbridge First-Quarter Profit Rises on Higher Shipment Volumes

Canada's Enbridge Inc. reported a 4.34% rise in first-quarter profit on Friday, as a surge in demand for oil and gas boosted the pipeline operator's shipment volumes.

Magellan Midstream Raises Cash Flow, Profit Estimates on Higher Prices

Magellan Midstream Partners LP raised its cash flow and profit forecasts for this year as it expects higher oil and products prices to lead to increased flows in its pipelines, the company said on Thursday.