Marcellus

TC Energy Shareholders Approve Spin-Off of North American Oil Pipeline Business

TC Energy shareholders voted in favor of spinning off the Canadian company's liquids pipeline business on Tuesday, creating a new energy infrastructure firm known as South Bow Corp. whose assets include the Keystone oil pipeline.

Enbridge Adds 21,000 Miles of Gas Pipelines to Network with Questar Gas Company Acquisition

Questar Gas's asset portfolio includes over 21,000 miles of natural gas distribution and transmission pipelines, a liquefied natural gas storage facility that enhances system reliability, and interconnections to multiple interstate natural gas pipelines.

Challenges to Growth Remain Key Story in Appalachian Basin

The Marcellus Shale and Point Pleasant-Utica Shale formations of the Appalachian Basin contain an estimated mean of 214 Tcf of undiscovered, technically recoverable continuous resources of natural gas, according to the United States Geological Survey.

Spotlight on Marcellus: Prolific Gas Play Keeps Rolling as Caution Persists

At the end of the first quarter of 2024, with natural gas prices depressed, the prolific Marcellus Shale gas play rolled along, albeit at a slower pace than usual with some producers cutting back production in March with a wait-and-see attitude toward prices.

EIA: U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June

Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said.

ONEOK Agrees to $280 Million Acquisition of Gulf Coast NGL Pipelines

ONEOK Inc. has agreed to acquire a system of natural gas liquids (NGL) pipelines from Easton Energy, a Houston-based midstream company, for approximately $280 million.

U.S. Gas Surplus Forecasted to Vanish by End of Winter 2024/25

U.S. gas inventories are nearing record highs for this time of year, propelled by exceptionally mild temperatures during the winter of 2023/24, attributed to the El Nino weather phenomenon.

Williams Scraps Northeast Pipeline Project While Pennsylvania Gas Transport Plan Advances

Williams ambitious natural gas pipeline project, aimed at crossing New Jersey and extending under two bays to New York, has met its demise. Concurrently, another initiative involving the transportation of LNG from Pennsylvania via tanker truck is progressing.

Antero Midstream Acquires Summit Midstream's Marcellus Assets for $70 Million

Antero Midstream Corp. has made a strategic move with the acquisition of gathering and compression assets in the Marcellus Shale region for $70 million from Summit Midstream Partners.

Oil Prices Rise on Prospect of U.S. Replenishing Strategic Reserve

Oil prices rose on Thursday on the prospect the U.S. may start buying crude for its petroleum reserve, after prices sank to a seven-week low on hopes for an Israel-Gaza ceasefire, doubts about U.S. interest rate cuts and swelling oil inventories.

Texas Oil Operators Increase Flaring Amid Weak Gas Prices

Operators drilling for oil in Texas are scrambling to dispose of their excess natural gas amid a supply glut and weak prices, prompting an uptick in flaring requests.

Report: Global Upstream Sector Eyes $150 Billion in Deals for Rest of 2024

The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts said.

U.S. Shale Oil Sector Sees Revival Through Advanced Technology Adoption, Financial Obstacles Remain

Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so.

U.S. Oil and Gas M&A Hits Quarterly Record After Strong 2023

U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year's fierce merger pace centered in the top U.S. shale field, data provider Enverus said on Tuesday.

EQT and Equinor Strike Mega Deal: Swapping Onshore Assets in Pennsylvania

EQT will sell 40% interest in its non-operated natural gas assets in northeast Pennsylvania to Equinor USA in exchange for Equinor's onshore asset in the Appalachian basin and $500 million in cash, the companies said on Monday.

Phillips 66 Explores Sale of Stake in 1,700-Mile REX Pipeline, Sources Say

U.S. oil refiner Phillips 66 is exploring a sale of its 25% stake in the Rockies Express Pipeline that it hopes could be worth more than $1 billion, including debt, people familiar with the matter said on Tuesday.

U.S. Pipeline Firms Looking to Follow Biggest Customers into M&A Wave

U.S. energy pipeline and storage operators have spent two years watching the consolidation of oil and gas producers, and now they are gearing up for the merger wave to hit their sector, executives, investors, and analysts said.

Gas Pipeline Expansion Trends Shift: Intrastate Capacity Surpasses Interstate in 2023

In a significant shift, natural gas intrastate pipeline capacity outpaced interstate additions in the United States in 2023, according to data from the U.S. Energy Information Administration (EIA).

EIA Projects U.S. Oil Output Surge from Top Shale Regions in March

U.S. oil output from top shale-producing regions will rise in March to its highest in four months, the U.S. Energy Information Administration (EIA) said on Monday in its monthly Drilling Productivity Report.

MPLX Exceeds Q4 2023 Expectations with Surge in Pipeline Volumes

Midstream energy company MPLX on Tuesday reported higher fourth-quarter earnings, beating expectations, as its pipelines transported an increased volume of energy products.

Deep Freeze Hits U.S. Oil Industry from North Dakota to Texas

A severe winter storm shut a U.S. Gulf Coast refinery in Texas on Tuesday, triggered malfunctions at others, and halved North Dakota oil production as it dumped snow and rain across a broad swath of the nation.

EOG President: U.S. Oil and Gas Production Growth to Slow in 2024

U.S. oil and gas production will not continue to grow this year at the pace that it did in 2023, U.S. shale producer EOG Resources President Lloyd Helms said on Thursday.

Gas Producer EQT Explores $3 Billion Sale of Marcellus Shale Well Stakes

The stakes EQT is planning to sell are in assets spread across Northeast Pennsylvania with current production of around 700 million cubic feet per day, the sources said.

Howard Energy Partners Completes $800 Million in 2023 Growth Projects, Achieves Record Volumes

(P&GJ) — Howard Energy Partners completed $800 million in 2023 growth projects, including new pipelines and facilities in key U.S. oil and gas basins, along with storage and logistics for renewable diesel on the Texas Gulf Coast.

Energy Transfer to Buy Crestwood in $7.1 Billion Pipeline Deal

The $7.1 billion deal will see Energy Transfer add about 2 billion cubic feet per day (Bcf/d) of gas-gathering capacity, 1.4 Bcf/d of gas-processing capacity and 340,000 barrels per day (bpd) of crude-gathering capacity.

Natural Gas Producer Chesapeake to Complete Eagle Ford Basin Exit with Silverbow Deal

Chesapeake said last year it viewed the Eagle Ford acreage as no longer core to its strategy and would focus on the gas-rich Marcellus and Haynesville shale formations.

Haynesville Riding LNG Wave to Gulf Coast

(P&GJ) — With the primary driver of U.S. natural gas demand growth continuing to be LNG exports, the bottlenecked pipeline takeaway capacity in the gas-rich Marcellus Shale has left the Haynesville shale, along with the Permian Basin, as the two regions with the most consistent midstream growth.

U.S. Oil M&A Jumps as Private Equity Unloads Shale Assets

U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals.

NextEra Partners to Sell Texas, Pennsylvania Gas Pipeline Assets in Renewables Shift

(P&GJ) — Capitalizing on the affordability and demand for significant investments in decarbonizing the U.S. economy, NextEra Energy Partners LP is refocusing on renewable energy. As part of this strategy, the business intends to sell its STX Midstream in the Eagle Ford shale play and Pennsylvania’s Meade natural gas pipeline assets, positioning itself as a fully renewables-based company.

Marcellus Bottlenecks Continue to Muddy the Picture

(P&GJ) — It has gotten to be a familiar yet no less frustrating story for midstream operators in the Marcellus-Utica region: pipeline takeaway capacity remains bottlenecked and production from the gas-rich region continues to stagnate.