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Tallgrass Energy's Open Season for the Pony Express Pipeline Project

Tallgrass Energy has started a new open season for the Pony Express Pipeline, and this is the second time they're doing it in 2024. They're looking for companies that want to move their crude oil from the Williston Basin and are offering special rates as an incentive. This 30-day event kicked off on March 11. To get the full details, companies need to sign a confidentiality agreement with Tallgrass.

The Pony Express Pipeline, which Tallgrass operates together with Bridger Pipeline, stretches over 830 miles and can handle 230,000 barrels of oil a day. It runs from Guernsey to Cushing, Oklahoma, and includes a side path that can deliver 90,000 barrels a day from Northeast Colorado to Cushing.

In a separate matter, a former board member of Tallgrass, Roy Cook, and four of his friends were in trouble with the Securities and Exchange Commission (SEC) for insider trading. The SEC claimed that Cook found out about a potential deal with Blackstone Infrastructure Partners to buy Tallgrass and go private, and then he told his friends. They all bought Tallgrass stocks before the deal was announced on August 27, 2019. The deal with Blackstone was worth about $3 billion. Although Cook and his friends didn't admit they did anything wrong, they agreed to pay $2.2 million to settle the charges. The SEC's Mark Cave mentioned that they would act against anyone who uses inside information for their own gain.

About Tallgrass Energy

Tallgrass Energy has recently been involved in several notable initiatives aimed at enhancing its energy infrastructure and contributing to environmental sustainability. One of the key projects is the conversion of its Trailblazer natural gas pipeline into a CO2 transport system. This 400-mile pipeline will run through Nebraska, Colorado, and Wyoming, and is capable of transporting over 10 million tons of CO2 per year. In October 2023, FERC approved the conversion of the Trailblazer Pipeline from a natural gas system to a carbon dioxide (CO2) transportation network.

Tallgrass Energy previously partnered with Equinor to pursue large-scale, low-carbon hydrogen and ammonia production projects in North America. This collaboration explored the production, market potential, and associated distribution infrastructure for hydrogen and ammonia, aiming to facilitate broad decarbonization. The partnership included initial co-development activities and the joint funding of a front-end engineering and design (FEED) study focused on large-scale hydrogen production. This study aimed to incorporate capturing at least 95% of CO2 for permanent sequestration.

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Tight Oil Supply and US Production Downgrades Expected to Drive Prices Up and China Growth Concerns

Crude oil prices are on the verge of a significant rise, as per Helima Croft, a top commodities strategist at RBC Capital Markets. She highlights a looming shift in the oil market's supply-demand dynamics, forecasting a potential slowdown in global crude production. This slowdown might push Brent crude prices to $85 in the latter half of 2024.

The Denver-Julesburg (DJ) Basin, spanning Northern Colorado, Eastern Wyoming, Western Kansas, and parts of Nebraska, stretches from north to south, from north of Cheyenne, Wyoming, down to Colorado Springs. Its primary production field, the Wattenberg gas field, is located in Weld County and Northwestern Adams County in Northeast Colorado. Oil and gas production in the D-J Basin traces back to a discovery in Boulder County, Colorado, in 1901, marking a long history of energy development in the area. The basin is highly productive, primarily due to its stacked plays, similar to those in other regions like the Anadarko Basin (with its SCOOP and STACK plays) and the Permian Basin. This geological feature is a key reason for the high productivity of wells in the DJ Basin.

The rapid growth of natural gas production in the Permian Basin is pushing existing infrastructure to its limits, and additional pipeline projects are on the horizon to meet rising demand, according to East Daley Analytics. Despite ongoing price volatility—marked by repeated declines—demand for expanded energy markets continues to surge.

Dominion Energy has struck a major deal by selling half of its stake in the Coastal Virginia Offshore Wind (CVOW) project to Stonepeak, one of the world’s leading infrastructure investors, for $2.6 billion. While Dominion will retain full control over the project’s development and day-to-day operations, this partnership gives Stonepeak a non-controlling 50% interest.

Landfills are essential to America’s waste management system, yet they face several operational, environmental, and regulatory challenges. With over 2600 active municipal solid waste (MSW) landfills across the country, they occupy an average of more than 600 acres, which is roughly equivalent to 500 football fields. Methane emissions from landfills contribute significantly to global warming, accounting for 15.1% of U.S. methane emissions. As the waste sector is a major contributor to methane emissions, there is a growing emphasis on improved monitoring, reduction technologies, and the integration of renewable natural gas (RNG) solutions to mitigate the impacts of these emissions.

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