Comprehensive Energy Data Intelligence

Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...

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

$data['article']['post_image_alt']

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

$data['article']['post_image_alt']

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.

$data['article']['post_image_alt']

Shareholder’s payout target was increased by 50% after the largest U.S. independent oil producer surpassed Wall Street’s earnings estimates on growing energy prices, said Houston-based Conoco Phillips Co. on Aug. 4. Due to Western sanctions on major producer Russia throttling energy supply amid a rebound in demand from pandemic lows, oil and gas #prices have soared. Crude has been trading more than 25% higher since the start of the year and results also benefited from high natural gas prices. Meanwhile, shares were down a fraction, to $91.03, in early trading but are up about 26% year to date. Conoco Phillips stated, that the average price obtained for a barrel of oil and gas accelerated 77% from a year earlier to $88.57. The company acknowledges that it has not hedged any of its oil and gas sales to make the most of higher market prices. The capacity of 1.69 million boe/d was in line with Wall Street estimates, however, the company expected the current quarter’s output would be between 1.71 million and 1.76 million boe/d.

$data['article']['post_image_alt']

California oil joint venture, Aera Energy, of Exxon Mobil Corp. and ShellPlc is being sold to German asset manager IKAV, according to the agreement of Sept. 1. Shell noted that the sale of its 51.8% membership interest in Aera Energy is for a total consideration of about $2 billion in cash with additional contingent payments based on future oil prices, subject to regulatory approval. However, the total transaction value was not disclosed. Being one of California’s largest oil and gas producers, Aera Energy accounts for nearly 25% of the state’s production. The sale by Exxon Mobil and Shell ends a 25-year-long partnership in California, meanwhile, it persists a streak of divestments of mature oil and gas properties by the two supermajors. Aera Energy LLC operates about 13,000 wells in the San Joaquin Valley in California, producing oil and associated gas. In 2021, Aera took out about 95,000 boe/d. Exxon Mobil’s interests in the Aera oil-production operation in California contained a 48.2% share of Aera Energy LLC and a 50% share of Aera Energy Services Co. held by Mobil California Exploration & Producing Co. Moreover, Exxon Mobil affiliates have signed a separate agreement for the sale of an associated loading facility and pipeline system. The sale effectively ends Shell’s upstream position in California. The company reported that the divestiture is valued to result in a post-tax impairment of $300 million to $400 million, subject to adjustments.

$data['article']['post_image_alt']

The completion of the merger between Centennial Resource Development Inc. and Colgate Energy Partners II LLC happened on Sept. 1, sealing the debut of Permian Resources Corp., which is considered the largest pure-play E&P company in the Delaware Basin. Permian Resources’ idea was to combine two successful E&P companies, creating a better, stronger, and more strategically compelling company. Centennial and Colgate announced an agreement to merge in May, denying rumors that Colgate, a privately held independent Midland-based company, had been seeking an IPO. The merger estimated Colgate at about $3.9 billion and consists of 269.3 million shares of Centennial stock, $525 million of cash, and the assumption of approximately $1.4 billion of Colgate’s outstanding net debt. Permian Resources, being the combined company, has a deep inventory of “high-quality” drilling locations on around 180,000 net acres the companies anticipate will provide more than $1 billion of free cash flow in 2023 at current strip prices, in accordance with the company release on Sept. 1.

A&D sector ANR Pipelines Abraxas Petroleum Acquisition Acquisitions Admiral Permian Resources Aera Energy Alberta Alternative Fuels Ameredev II Anadarko Basin Analysis Analytics Antitrust Appalachia to Market and Middlesex Extension project Appalachian Appalachian Basin Appalachian basin ArcLight Capital Partners Artesia Natural Gas Gathering and Processing System Asia Assets Acquisition Assets Revenue Assets Sale Assets Value Aviation emissions BOED BP BP Plc BPX Energy Baker Hughes Bakken Bakken Formation Bakken Shale Bakken shale Bankruptcy Bay du Nord Berkshire Hathaway Biodiesel BridgeTex Broom Creek Formation Buyout Firms CCS CO2 reduction Canada Carbon Capture Carbon Footprints Carbon capture and storage Careers in O&G Carl Icahn Cenovus Centennial Resource Development Centennial Resource Development Inc. Cheniere Energy Cheniere Marketing Chesapeake Energy Corporation Chevron Chevron Corp. China Gas Holding LTD. Clean Energy Climate Change Coal Colgate Energy Colgate Energy Partners II LLC Colgate Energy Partners III Colorado Comstock Resources Concho Valley Solar ConocoPhillips Co. Continental Resources Corpus Christi Costa Azul Credit Suisse Group Crescent Energy Crestwood Equity Partners Crowheart Energy Crude Oil Crude Prices D-J Basin DCP DCP Midstream Data Debt Restructuration Decarbonization Technology Decarbonized Fuel Delaware Delaware Basin Delaware basin Denver Devon Energy Diamondback Energy Dividends Dominion Energy Double E Pipeline DoublePoint Energy Downstream Market Driftwood Pipeline LLC Drilling Drilling Inventory E&P EIA EIEC EP Energy ESG ESG performance ESG score Eagle Ford Eagle Ford Shale Earthstone Energy Inc. Emissions EnCap Flatrock Midstream EnCap Investments Enbridge Enbridge Inc Endeavor Gathering Energy Energy Assets Energy Crisis Energy Gas Energy Information Administration Energy Infrastructure Energy M&A deals 2022 Energy M&As Energy Prices Energy Production Energy Projects Energy Transfer Energy Transfer LP Energy Transport Solutions Enterprise Enterprise Product Operating LLC Enterprise Products Partners Environmental Protection Agency Equinor Energy Ireland Equitrans Midstream Corp. Equity Investments Ethanol Conversion Europe Evolution Petroleum Exaro Energy III Export Exxon Mobil Exxon Mobil Corp. ExxonMobil Flowing Gas Forecast Fort McMurray G&P GIS GIS NG data GIS U.S. GIS U.S. NG Data GIS U.S. NG data GIS U.S. data Gas Gas Extraction Gas Flaring Gas Holdings Gas Processing Plants Gas Production Gas Rates Gas processing Gathering Gathering and Processing Gathering and Transportation Network Gemini Carthage Glencore Global Emissions Goldman Sachs Great Western Petroleum Greater Green River Green River Basin Greenhouse Gas Emissions Gulf Coast Gulf Run Pipeline map Gulf of Mexico Haynesville Haynesville Basin Horizontal Well Humble Midstream Hydraulically Stimulated Resources Hydrocarbon Exploration Hydrocarbon Reservoirs Hydrogen IKAV IPO Import Inc. Infrastructure Ironwood Midstream Joint Venture Jonah Field Jordan Cove KKR Kinder Morgan Komipo America LEG project LNG LNG Delivery LNG Demand LNG Terminals LNG delivery LNG exports LNG plant LNG provider LNG-by-rail LaBarge Labrador Lake Charles Project Leasehold Properties Leucrotta Exploration Lime Rock Resources Line 3 project Liquefaction Plant Liquefied Natural Gas Liquefied natural gas Liquids and Natural Gas Pipelines LongHorn Louisiana Lucid Energy Group M&A MPLX LP Magellan Magellan Midstream Partners Mainline Pipeline System Mancos Shale Marathon Petroleum Marcellus Shale Marcellus region Mariner East Project Mariner east expansion Market Acquisition Of Vine Energy Inc. Matador Medallion Pipeline Merge Merger Merit SI Methane Emissions Mexico MiQ Mica Midcontinent Midland Midland Basin Midstream Midstream NG gathering pipelines Midwest Monopoly Montana Montney Shale Motiva Enterprises Mountain Valley NG Pipeline Maps NG U.S. midstream data NG data NG data U.S. NG gathering pipeline systems NG pipeline maps NGL NGL Energy Partners NGL export NGL logistics NGL production NGLs NGO NGP NLG Natural Gas Natural Gas Assets Natural Gas Certification Natural Gas Equivalent Natural Gas Gathering Natural Gas Infrastructure Natural Gas Liquids Infrastructure Natural Gas Prices Natural Gas Production Natural Gas Products Navitas Midstream Net Acres Net-zero Production New Fortress New Jersey New Mexico Newco Newfoundland Non-Operated Assets North Dakota North-East Northern Oil and Gas Nuevo Midstream O&G O&G Production O&G output records O&G production forecasting Oasis Midstream Partners Oasis Petroleum Oasis Petroleum Inc. Offshore Oil Oil Equivalent Oil Prices Oil Sanctions Oil and Gas Oil and Gas Production Oil and Gas Properties Oil and Gas rigs Oil and gas production Oil companies Onshore Operated Wells Orphan Basin Oryx Oxy PAM PDC Energy PHMSA Paradox Basin Pearl Energy Investments Pembina Penn Virginia PennEast Pipeline Pennsylvania Percussion Petroleum Permian Permian Basin Permian Basin 2022 Permian Resources Corp. Permian acreage sale Permian basin Petro-Hunt Petroleum Production Piceance Pine Wave Energy Partners Pinnacle Midstream Pioneer Natural Resources Pipeline Pipeline Maps Pipeline and Hazardous Materials Safety Administration Pipelines Pipelines and Refineries Plains Plains All American Powder River Powder River Basin Power Generation Power Plant Fuel Production Production Forecast Propane Quantum Energy Partners Questar Pipeline RSG Ranger Oil Rattler Midstream Red Trail Energy Reduction of Greenhouse Emissions Renewable Diesel Renewable Energy Group Research Riverstone Rocky Mountains SAF SPA Sabine Pass LNG LP San Mateo Sempra Energy Sequestration Shale Shale Field Shale Formation Shale Gas Shale Industry Shale Oil Producer Shareholder Returns Shares Shell Plc. Sierra Grande Silver Hill Energy Partners III Sinochem Group Sour crude South Carlsbad Natural Gas Gathering System South Haynesville Basin Southcross Energy Southern Access expansion Southern Lights Pipeline Southwest Gas Stock Market Strategic Petroleum Reserve Strategic Resources Summit Midstream Partners Summit’s Lane System Sunrise Oil Sands TC Energy THQ Appalachia Takeaway Targa Resources Texas Titus Oil & Gas Production LLC Trace Midstream TransCanada Transport Permit Transportation Infrastructure Tug Hill Operating U.S. U.S. Gulf Coast U.S. LNG exports U.S. NG data U.S. NG midstream data U.S. crude exports U.S. crude oil data U.S. energy maps U.S. hydrogen production U.S. midstream data U.S. refineries U.S. shale gas assets Uinta Uinta Basin Ukraine Upstream Utah Vermilion Energy Vista Pacifico WCS Waha Hub Wamsutter Field War Warburg Pincus Water Management Water management Webinar Well maps Wells West Texas Western Canada Select Western Canadian Sedimentary Basin White House Whiting Whiting Petroleum Wholesale William Companies Williams Williston Williston Basin Woodland Midstream II XcL Midstream Zacks Consensus Zephyr Energy Acquisition Acreage maps Acreage sale Analytics And Phillips 66 Partners Asset renewal Asset sale Assets merger Atural gas gathering Aviation Aviation fuel Bbl Bioethanol Carbon capture and storage Carbon capture storage (CCS) Carbon footprint Carbon-free Crude export terminals Crude exports to Europe Crude oil Crude oil and natural gas output Crude oil delivery Crude oil production Divestment Drilling activity Drilling permits Electrification Emission reduction Emissions Emissions reduction Energy infrastructure Energy maps Energy market Energy provider Energy services Energy supplies Energy transfer Expansion Exploration & production Financial results Flaring gas Forecast Fuel Gas Gas prices Gas projects Geologic CO2 storage Green energy Greenhouse gas Greenhouse-gas emissions Growth Hydrogen pipeline maps Investment Map of pipelines Merger and acquisition Midstream Midstream footprint Midstream infrastructure Natural gas Natural gas gathering and processing Natural gas maps Natural gas pipelines Natural gas producer Natural gas production Oil Oil and energy Oil and natural gas assets Oil market Oil output Oil prices Onshore Partnership Petroleum infrastructure Pipeline Pipeline maps Produced water Rebranding Renewable energy Renewable energy sources Subsurface CO2 sequestration Subsurface characterization Sustainability The James Lake System The Permian Basin Upstream Water management Well maps Wells Wind energy