Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Tallgrass Energy's Open Season for the Pony Express Pipeline Project
03/21/2024
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.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Williston Basin Overview: 2022 vs 2023, Bakken Shale, Operators, Deals, 2024 Update
The Williston Basin is a big area filled with layers of rock that sits next to the Rocky Mountains in western North Dakota, eastern Montana, and the southern part of Saskatchewan in Canada. This area covers roughly 110,000 square miles. Geologically, it's very similar to the Alberta Basin in Canada. People started drilling for oil in the Williston Basin back in 1936, and by 1954, most of the land where oil could likely be found was already claimed for drilling. The Bakken Formation with parts of Montana, North Dakota, Saskatchewan, and Manitoba has become one of only ten oil fields globally to yield over 1 million barrels per day (bpd) since the late 2000s. It is currently the third-largest U.S. shale oilfield, behind the Permian and Eagle Ford. The boom in the Bakken started around September 2008, coinciding with the U.S. housing market crash. The application of new technologies, such as swell packers enabling multiple-stage fracturing, significantly enhanced oil recovery, making the Bakken Formation a key player in the U.S. In 2022, the Bakken oil field saw big improvements in how much oil and gas it could produce. At the start of the year, 27 drilling rigs were working there, more than double the 11 rigs from the start of 2021. Important upgrades included making the Tioga Gas Plant able to process 150 million cubic feet more gas each day, and making the Dakota Access Pipeline bigger, increasing its oil transport capacity from 570,000 to 750,000 barrels every day.
Tenaris Acquires Mattr's Pipe Coating Division for $166 Million
Tenaris has successfully finalized the purchase of Mattr's Pipe Coating Division, previously known as Shawcor, for a total of $182.6 million. This figure includes working capital and $16.9 million in cash. Announced back on August 14, 2023, the acquisition has now received the green light from regulatory bodies in both Mexico and Norway.
The Williston Basin is a big area filled with layers of rock that sits next to the Rocky Mountains in western North Dakota, eastern Montana, and the southern part of Saskatchewan in Canada. This area covers roughly 110,000 square miles. Geologically, it's very similar to the Alberta Basin in Canada. People started drilling for oil in the Williston Basin back in 1936, and by 1954, most of the land where oil could likely be found was already claimed for drilling. The Bakken Formation with parts of Montana, North Dakota, Saskatchewan, and Manitoba has become one of only ten oil fields globally to yield over 1 million barrels per day (bpd) since the late 2000s. It is currently the third-largest U.S. shale oilfield, behind the Permian and Eagle Ford. The boom in the Bakken started around September 2008, coinciding with the U.S. housing market crash. The application of new technologies, such as swell packers enabling multiple-stage fracturing, significantly enhanced oil recovery, making the Bakken Formation a key player in the U.S. In 2022, the Bakken oil field saw big improvements in how much oil and gas it could produce. At the start of the year, 27 drilling rigs were working there, more than double the 11 rigs from the start of 2021. Important upgrades included making the Tioga Gas Plant able to process 150 million cubic feet more gas each day, and making the Dakota Access Pipeline bigger, increasing its oil transport capacity from 570,000 to 750,000 barrels every day.
Continental Resources is expanding its operations in the Midland Basin, including taking over some assets that used to belong to Occidental Petroleum. The company plans to use its expertise in exploration in this area.
Equinor and EQT Corporation have agreed that Equinor will exchange its operated assets in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interests in the Northern Marcellus formation.