Four energy companies signed a letter of intent to jointly develop a natural gas pipeline from the Permian Basin to the Texas Gulf Coast, according to a recently issued press release. The Whistler Pipeline Project is the focus of Houston-based Targa Resources Corp., Florida-based NextEra Energy Pipeline Holdings LLC, Austin-based WhiteWater Midstream LLC, and Ohio-based …
Category: Oil & Gas
ONEOK Executives to Present at NYC’s Tuohy Brothers Energy Conference
Senior executives of Tulsa-based ONEOK, Inc. will participate in the Tuohy Brothers Ninth Annual Energy Conference on Wednesday in New York City. ONEOK’s Walter S. Hulse III, Chief Financial Officer and Executive Vice President, Strategic Planning and Corporate Affairs, and Kevin L. Burdick, Executive Vice President and Chief Operating Officer, will direct several one-on-one meetings with …
Continental Partners with Franco-Nevada for New SCOOP and STACK Mineral Subsidiary
Oklahoma City-based Continental Resources, Inc. announced a new multimillion dollar strategic alliance on Monday with Canada-based Franco-Nevada Corporation. Franco-Nevada agreed to invest $220 million for an interest in the newly-created minerals subsidiary. Both companies committed to spend up to a combined $125 million annually for the next three years to acquire minerals in Oklahoma’s prolific SCOOP and STACK plays, …
Rebound in Oil Prices
Oil prices recovered slightly in Tuesday’s trading as West Texas Intermediate rose 50 cents and settled for the day at $63.51 per barrel on May futures. Brent crude in London’s ICE Futures Europe Exchange settled 48 cents higher at $68.12 per barrel on June futures. Natural gas on the New York Mercantile Exchange was up …
CFO Announces Retirement at Murphy Oil
One of the top executives at Murphy Oil Corporation in El Dorado, Arkansas is retiring after 28 years with the company. John W. Eckart, Executive Vice President and Chief Financial Officer plans to retire later this year. The company has started a search to find a successor. He joined the company in 1990 as Auditing …
Increased Earnings for Tallgrass Energy Partners
Kansas City, Kansas based Tallgrass Energy Partners LP reported an increase in earnings for the 4th quarter of 2017 and for the year itself. Net income for the quarter increased as did income for the year for the oil pipeline company. “Tallgrass Energy delivered another outstanding year in 2017income, meeting the high-end of the Adjusted …
Vapor Leak Forced Evacuation of Rig Near Chickasha
A water vapor leak early Sunday morning resulted in the evacuation of a Chickasha oil rig operated by Continental Resources of Oklahoma City. At last report, there were no injuries according to the Grady County Sheriff’s office and Grady County Emergency Management office. The evacuation happened around 5 a.m. Residents of a nearby mobile …
Expansion of Cushing to Illinois Pipeline System
Operators of a pipeline carrying crude oil from Cushing to Illinois have announced an expansion of their 433-mile line. MPLX LP subsidiaries MPLX Ozark Pipe Line LLC and Marathon Pipe Line LLC announced the start of the open season for two lines, the Ozark 22-inch and the Woodpat 22-inch line. The open season will continue …
Federal Government Announces Study in Eagle Ford
WildHorse Resource Development Corporation (NYSE:WRD) announced today that it has been selected for a Department of Energy study alongside the Texas A&M Engineering Experiment Station (TEES) to develop a new field laboratory in the Eagle Ford formation. The team, which has been awarded an $8 million grant from the Department of Energy (DOE) for research …
Quick Hits in the Industry
NuStar Energy L.P. based in San Antonio announced the start of its Binding Open Season involving an expansion of its NuStar Permian Transportation and Storage LLC’s Permian Crude System. The expansion will provide more transportation capacity capable of reaching several downstream markets through interconnects at Colorado City, Texas. Ring Energy, based in Midland, Texas …