Dallas-based Energy Transfer said recently it completed the previously announced acquisition of WTG Midstream Holdings for total consideration of $2.275 billion in cash and about 50.8 million newly issued Energy Transfer common units.  The acquired assets add about 6,000 miles of complementary gas gathering pipelines to extend Energy Transfer’s network in Midland Basin. Energy Transfer […]

Calgary-based Enbridge said last week it will expand its Gray Oak long-haul Texas pipeline that transports light crude from Crane in Permian Basin to Corpus Christi.  Capacity of the 850-mile pipeline will be expanded by 120,000 barrels per day to export volumes to global markets from marine docks on the U.S. Gulf Coast.  “There is […]

U.S. Energy Information Administration said last week the nation’s refining capacity increased in 2023 on expansions at existing facilities.  In its annual Refinery Capacity Report, EIA said July 30 U.S. operable atmospheric crude oil distillation capacity totaled 18.4 million barrels per calendar day at the start of 2024 – a 2 percent increase compared to […]

Post Oak Minerals V, affiliate of Houston-based Post Oak Energy Capital, said last week it has completed 10 acquisitions this year primarily in Permian Basin totaling more than $475 million.  The assets include more than 27,400 net royalty acres of mineral and royalty interests in Permian Basin and 24,000 net royalty acres in Midland Basin […]

Baker Hughes continues to report declining counts of active oil and gas drilling rigs in U.S., Texas and Permian Basin.  In its weekly report of Aug. 2, the Houston-based services firm said there were 586 rigs in U.S. (down 3 from previous week, down 73 from year ago), 274 in Texas (down 2 from previous […]

WhiteWater Midstream, MPLX and Enbridge said last week they have partnered with an affiliate of Targa Resources to reach final investment decision on Blackcomb natural gas pipeline.  The 2.5-billion-cfd pipeline will run 365 miles from Permian Basin to Agua Dulce hub in south Texas.  The joint venture secured sufficient firm transportation agreements, and shippers include […]

Boston-based infrastructure investment firm ArcLight Capital Partners said Monday it launched a renewables energy investment group and acquired an operating wind farm of 160 megawatts in Midland Basin.  ArcLight and renewables group SkyVest said they will target operating utility-scale wind and solar assets in North America.  ArcLight said it is providing an initial commitment of […]

Chevron said today it is moving its headquarters from San Ramon, Calif., to Houston.  Chairman and CEO Mike Wirth and vice chairman Mark Nelson will move by yearend 2024.  Chevron will maintain its San Ramon office to manage its California assets.  The company has about 7,000 employees in the Houston area and 2,000 in San […]