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Energy-Transfer-LP-Races-to-Carry-Permian-Basin-Gas-to-Gulf-Coast-Hubs

The Permian Basin's abundance of resources — given that it's the largest shale field in North America —, quickly became the driving force behind Energy Transfer LP's plans for a natural gas pipeline from West Texas and eastern New Mexico to export hubs on the Gulf Coast. The project under consideration would combine new and existing pipelines to serve coastal gas hubs.

A 260-mile new build pipeline would extend eastward from the Midland sub-basin along existing rights-of-way, interconnecting with Energy Transfer’s existing 36-inch pipeline near Fort Worth, Texas.

Given the proposed route and Energy’s ability to utilize existing assets, construction could be completed in two years or less once the parties involved have reached FID (final investment decision). The company's Co-CEO Thomas Long also corroborated this timeline.

A race to build pipelines in the Permian Basin has been triggered due to the increasing quantity of natural gas production under the Permian and the ever-increasing demand for natural gas exports from the Gulf Coast. Various companies, including Kinder Morgan Inc. and MPLX LP, are looking at building new pipelines in the region due to the demand spike.

Energy Transfer likely edged past Kinder Morgan and others into the lead for building the next Permian pipeline since the project strikes as the most economical option for the basin outside of capacity expansions on existing pipelines and could essentially add 1.5-2 Bcf/d of transport capacity with just 260 miles of new pipe.

Additionally, Energy Transfer announced that work had started on the Gulf Run Pipeline, which will connect Louisiana to the rest of the nation and international markets for natural gas transmission. To help meet growing global energy demand, existing assets will also be modified to complete the project.

Approximately 135 miles of the pipeline would run between Westdale and Starks. Enhancing and repurposing some underutilized infrastructure in northern Louisiana will be accomplished by modifying Line CP.

QatarEnergy and Exxon Mobil Corporation both have signed a 20-year agreement under which a $10 billion Golden Pass LNG export plant for this project is going to be built in Texas, and will provide 1.65 billion cubic feet of natural gas daily. 

As a result of all those strings being pulled, Gulf Run should be completed by the end of 2022. At least according to Energy Transfer’s Top management statements.

But not all of Energy’s programs have “ongoing” or “underdevelopment” statuses. While management boasted about future prospects, there was also an announcement that the company had finally completed the last phase of its long-delayed Mariner East NGL pipeline expansion in Pennsylvania. A fine boost to the company's trust ratings. After all, actions speak louder than words. 

On that note, If you are interested in learning more about the gas infrastructure and prospects of its development, connect with our Houston sales office to see the intelligence for yourself or SCHEDULE A DEMO with us to learn how Rextag can help you leverage the energy data in your business.

Tel. +1 713-203-3128

Email: treitmeier@hartenergy.com

Evolution Acquires Non-operated Wyoming Natural Gas Interests

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Evolution Petroleum just spend a fortune on Jonah’s Field right after acquiring Hamilton Dome Field in Wyoming. The price of the transaction is $29.4 million. The Houston-based company aims to diversify into natural gas assets, providing access to the western markets through the Opal market hub, with the optionality to flow to the east. That transaction took effect on February 1. We anticipate closing on or about April 1.

Colgate Energy's owners are planning to go public

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Colgate Energy is planning to float its shale oil producer in the Permian's Delaware Basin on the stock market. If successful, this IPO would be the first major U.S. oil producer offering since Jagged Peak Energy's IPO in January 2017. Looks like investors’ confidence in the sector is returning as U.S. crude prices hit their highest in seven years late last year S&P energy index delivered roughly twice the return of the S&P 500 in 2021.

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In order to sell its part of the sprawling Eagle Ford Shale acreage, Chesapeake Energy Corp. on January 18 concluded an agreement to trade its Brazos Valley region assets to WildFire Energy I LLC for $1.425 billion.

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On January 6, Phillips 66 announced that it plans to acquire more than 43% of DCP Midstream LP for $3.8 billion, expanding the business in the oil & gas business.

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On January 5 Northern Oil & Gas (NOG) concluded a deal to acquire working interests in Midland-Petro D.C. Partners LLC (MPDC)'s Mascot Project in the Midland Basin, according to a January 9 press release. Firstly estimated at $330 million in cash, the deal was signed with an additional 3.25% working interest added to the 36.7% agreed upon when the transaction was announced on October 19. NOG paid $29 million more for the additional interests, which now totalled 39.958%. Finally, the deal closed for $320 million in cash and $43 million in debt at signing in October with the finance of Minnetonka, Minn.-based NOG with cash on hand, operating free cash flow, and assistance from its revolving credit facility.

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