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Energy-Transfer-Pushes-For-Mariner-East-Project-Ahead-Of-The-Stunning-Q3-Results

A market share of almost 20%, double that of 18 months ago, was held by Energy Transfer LP in the third quarter, the most of any country or company in the world in NGL exports. The company, however, has a bit of a slip in the results, compared to the strong showing over the same period a year prior. 

In 2020, consolidated adjusted EBITDA in the third quarter was $2.9 billion, compared to $2.6 billion this time around. In line with this, discounted cash flow (DCF) is also down to $1.31 billion, from $1.69 billion a year ago.

Energy Transfer also reported earnings of $0.20 per unit and revenues of $16.66 billion, which solidly outperformed expectations from the likes of the Zacks Consensus with their estimate of $14.96 billion.

Tom Long, co-CEO of Energy, noted that the company was able to tie itself over the higher volumes in most segments seamlessly this year due to the one-time gain of $103 million in the midstream segment and the success of the former optimizations. Long also noted that the winter storm of 2021 resulted in higher utility bills and other expenditures.

All of these gains and expenses the result of Energy Transfer owning and operating one of the largest and most diversified portfolios of energy assets in the United States, with strategic stakes in all major domestic production basins. All of this is in addition to midstream, intrastate, and interstate natural gas transportation and storage assets, oil and petroleum products transportation and terminal assets, NGL fractionation assets, and acquisition and marketing assets.

In the meantime, though, one of the heaviest things on Energy's plate is the Mariner East project with its myriad of challenges. A new phase in the project has been commissioned, which will increase the project's capacity to 260,000 bbl/d. Yet, even with the uncompleted project, the volumes going through the system and the terminal in Marcus Hook, Pa saw a 12% increase compared to the last year.

However, the project is handicapped at the moment. New permit modifications are required for converting the final directional drill to an open cut. Afterward, Mariner East's last segment could be operational by the end of the first half of 2022. But whether or not this timeline will hold to be true is unknown for now. 

Smart Investments Are The Key To Success: Williams JV Brought Benefits At The End Of The Year

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Williams boasts its Q3 results. With a revenue of $2.48 billion, the company beat the analyst estimate of $2.09 billion and also improved upon its own results over the same period in 2020. Mind you, much of this success was attributed to production in Wyoming's Green River Basin's Wamsutter Field and Williams JV with Crowheart.

No More Gas Flaring: the Permian's Double E Pipeline is brought into service in West Texas

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Permian Basins gas infrastructure boom: Summit Midstream puts into service a new pipeline system, aimed at reducing gas flaring in the area. Besides ecological concerns, the project will also transport almost 1,5 billion cubic feet of gas per day — enough to supply 5 million U.S. homes every day. According to Federal Energy Statistics, the project cost a whopping $450 million.

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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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