Company News

Apache Corp Creating New Holding Company

Apache Corp plans to create a holding company structure, which typically allows a firm to lower its tax bill, protect patents and diversify its unit's businesses efficiently.

Phillips 66 Budget Down 43% From 2020’s Forecast

Phillips 66 said its 2021 budget includes capital expenditures of $776 million on the refining segment and $610 million on midstream as the energy industry struggles to recover from the blow of the COVID-19 pandemic.

Hilcorp Unit Completes BP Alaska Acquisition

Privately held Hilcorp Energy's unit completed a $5.6 billion acquisition of BP's business in Alaska, taking over the region the British oil major had operated in for 60 years.

Court Approves Williams' Deal with Bankrupt Chesapeake

A bankruptcy court has approved Williams' agreement to take ownership of some Chesapeake Energy assets in exchange for accepting lower gas gathering fees.

Eni Lifts Force Majeure on Nigeria's Brass River Crude Exports

taly's oil major Eni said it was lifting force majeure on Nigeria's Brass River crude oil exports on Wednesday after pipelines had been repaired following sabotage.

Phillips 66 Lowers 2021 Spending Budget

U.S. oil refiner Phillips 66 on Monday set its 2021 capital budget at $1.7 billion, around 43% lower than forecast for the previous year, as the energy industry struggles to recover from the blow of the COVID-19 pandemic.

Pinnacle Midstream II Plans Gathering, Compression System in Midland Basin

Pinnacle Midstream II on Tuesday said it has signed a 15-year gas gathering, processing and purchase agreement with DoublePoint Energy that anchors Pinnacle’s greenfield build of a new natural gas gathering and compression system in the Midland Basin.

Husky Energy Shareholders Approve Sale to Cenovus

Husky Energy Inc said on Tuesday its shareholders approved the company's merger with rival Cenovus Energy Inc to create Canada's No. 3 oil and gas producer,

TC Energy to Acquire TC PipeLines in $1.68B Deal

TC Energy Corp said on Tuesday it would acquire all outstanding shares of TC PipeLines LP in a deal that values the natural gas pipelines operator at about $1.68 billion.

Eni Looking to Sell Assets in Pakistan - Sources

Italian energy group Eni is looking to sell assets in Pakistan as part of moves to refocus its oil and gas portfolio following a strategic re-shake this year, sources close to the matter said.

Kinder Morgan Sees Higher Income in 2021, Raises Dividend

Kinder Morgan Inc said on Tuesday it expects to generate higher income in 2021 and raised its annual dividend, as the pipeline operator cost cuts this year in the face of oil demand destruction.

Enbridge Expects Higher Pipeline Volumes, Rates in 2021

Canadian pipeline operator Enbridge Inc on Tuesday forecast higher core earnings in 2021 and raised its annual dividend, saying it expects to see volume on its Liquids Mainline System improve next year.

Magellan Midstream Tank Explosion Injures 7 in Corpus Christi

Seven Magellan Midstream Partners employees were injured, four critically, when a storage tank at a Magellan plant in Corpus Christi exploded after catching fire Saturday morning, according to deputy Fire Chief Richie Quintero.

Chevron Tightens Belt Again with Billions in Spending Cuts

Chevron has cut billions off its long-term capital and exploratory budget, even after a major restructuring of its operations, but plans more Permian and GOM spending in 2022.

Magellan Midstream to Boost Loading capacity at Cheyenne Terminal

Magellan Midstream Partners said it will invest $4.65 million to increase truck loading capacity at its refined oil products terminal in Cheyenne, Wyo., by more than 50%.

Enbridge Starts Construction on Line 3 Pipeline in Minnesota

Enbridge began construction on its Line 3 crude oil pipeline replacement in Minnesota on Tuesday, a day after state regulators approved the final permit for the $2.6 billion project amid legal challenges from lactivist and Indigenous groups.

Fire Shuts Equinor Gas Processing Terminal, Methanol Plant

A fire at Norway's Tjeldbergodden industrial facility on Wednesday triggered an evacuation of staff and the shutdown of Europe's largest methanol plant and a gas processing terminal, state-controlled oil firm Equinor said.

Tellurian Withdraws Application for Permian Global Access Pipeline

LNG developer Tellurian Inc told federal energy regulators it wants to withdraw its application to build the Permian Global Access natural gas pipeline in Texas and Louisiana.

Simoes Succeeds Gentle as Tellurian CEO

U.S. LNG developer Tellurian said its president and chief executive, Meg Gentle, is leaving the company and will be succeeded by Octavio Simoes, previously executive vice president of LNG Marketing and Business Development.

Minnesota Tribes File to Halt Line 3 Pipeline Approval Due to Virus

Two Native American tribes in northern Minnesota are asking state regulators to stop the imminent construction of Enbridge Energy's Line 3 crude oil pipeline replacement, saying it would increase the risk of coronavirus infections spreading.

ExxonMobil to Cut up to 300 Jobs in Canada

ExxonMobil said Wednesday that it plans to eliminate up to 300 jobs in Canada by the end of 2021 as part of its ongoing efforts to lower costs. It said the global pandemic has increased the urgency of its cutbacks.

Enbridge Sues Michigan Over Oil Pipeline Shutdown Order

Enbridge filed a legal challenge to Michigan Gov. Gretchen Whitmer's recent demand that the company shut down its Line 5 oil pipeline that crosses the waterway connecting Lake Huron and Lake Michigan.

Corps of Engineers Grants Final Federal Permit for Enbridge Line 3

The U.S. Army Corps of Engineers approved the final federal permit for Enbridge Energy's planned Line 3 crude oil pipeline replacement across northern Minnesota, bringing the project a step closer to construction.

Max Midstream Announces Binding Open Season

Max Midstream Texas announced it is launching an open season to solicit shipper commitments for services in the Eagle Ford region on its Seahawk crude oil pipeline.

Companies

Artera Services Acquires Otis Eastern (photo: Otis Eastern/Artera) Artera Services, a natural gas and electric infrastructure services company, has completed the previously announced acquisition of Otis Eastern Service.  Founded in 1936 and acquired by c..

Minnesota Approves Enbridge Line 3 Pipeline Project

Minnesota regulators approved Enbridge's $2.6 billion Line 3 pipeline replacement project, clearing one of the last remaining hurdles for U.S. construction to begin.

Callahan Pipeline Completed in Northeast Florida

Affiliates of Chesapeake Utilities and TECO Peoples Gas have completed the 27-mile Callahan Intrastate pipeline, underpinning natural gas service expansion in two Florida counties.

WhiteWater, MPLX Substantially Complete Agua Blanca Expansion

WhiteWater Midstream and MPLX announced the substantial completion of their Agua Blanca pipeline system expansion, which is expected to be in full service in early 2021.

Energy Transfer Sues North Dakota for Return of Documents

Dakota Access Pipeline developer Energy Transfer is suing for the return of thousands of documents held by North Dakota, saying the disclosure of those records could present a security risk.

Enbridge Aims to Drastically Cut Carbon Footprint

Canada's largest pipeline operator, Enbridge, set emissions reduction targets, hoping to be a net zero emitter of greenhouse gases by 2050.