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Tivoli Services Acquires Barnett NTX Pipeline from Phillips 66
09/20/2023![Tivoli-Services-Acquires-Barnett-NTX-Pipeline-from-Phillips-66](https://images2.rextag.com/public/blog/183Blog_Phillips 66 Assets NTX Oil Pipeline System Sold as Part of Larger Infrastructure (2).png)
Tivoli Services finalized the purchase of the NTX pipeline system from Phillips 66, backed by a long-term transportation services agreement.
Tivoli Services LLC, a branch of Tivoli Midstream LLC, completed the purchase of the NTX oil pipeline system in the Barnett Shale from Phillips 66 affiliates, according to press release by Tivoli Midstream. The financial terms remain undisclosed.
The acquisition comprises around 140 miles of North Texas Barnett gathering and transportation pipelines that cross multiple counties and is backed by a long-term deal for transportation services with Phillips 66.
Tivoli President Rance Fromme expressed enthusiasm about the ongoing relationship with Phillips 66 and emphasized a commitment to maintaining NTX's high service standards in the official statement.
The acquisition was financed through the proceeds from a recently closed investment fund managed by Intrepid Investment Management LLC, the financial subsidiary of Intrepid Financial Partners LLC.
About Tivoli
Tivoli is a forward-thinking midstream, logistics, and services firm committed to improving both the world and the environment on a daily basis. With a specialized focus on offering tailored solutions for the oil, gas, and petrochemical sectors, Tivoli aims to build lasting trust with its clientele by surpassing industry standards in safety, customer service, and reliability. Drawing from more than seven decades of expertise, the company serves over 20 unique industries and manages a diverse portfolio of over 200 products.
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OneRock Energy Acquires 160,000 Acres in the Powder River Basin
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/178Blog_OneRock Purchased Northwoods Management Co.’s Powder River Assets.png)
OneRock acquired Northwoods Management’s assets in Wyoming's Powder River Basin, average production of approximately 5,000 barrels of oil equivalent per day.
Kinder Morgan Invests $1.8 Billion in South Texas Gas Infrastructure
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/202Blog_Kinder Morgan Gas Pipelines in South Texas (1).png)
Kinder Morgan's strategic acquisition of STX Midstream from NextEra is a significant move to enhance its infrastructure capabilities in South Texas. The area is witnessing an upsurge in natural gas production and demand, particularly towards Mexico and the Gulf Coast markets. The 462-mile pipeline system, which is highly contracted with an average contract length of over eight years, is expected to generate about $181 million in EBITDA for 2023.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/297_Blog_Keystone XL Pipeline Controversy and Wildlife Disaster From Trump's Green Light to Biden's Red Light on the 15 Billion Project.jpg)
The pipeline industry in the USA faced and still faces a range of regulatory challenges, including permitting delays, environmental requirements, and public opposition to pipeline projects. In recent years, pipeline projects like the Keystone XL and Dakota Access pipelines had legal and regulatory obstacles that delayed or canceled their construction. Keystone XL Pipeline, proposed by TransCanada in 2008, aimed to transport crude oil from Canada (around Calgary and Edmonton) to refineries on the Gulf Coast (Port Arthur). The project faced opposition from environmental groups and indigenous communities, who argued that it would contribute to climate change and pose a risk to water resources. In 2015, President Obama rejected the project, citing concerns about its environmental impact. However, in 2017, President Trump revived the project, leading to further legal challenges. In June 2021, U.S. President Joe Biden officially canceled the project on his first day in office.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/282_Blog_Renewable Natural Gas How RNG Changes the Industry.jpg)
The renewable natural gas (RNG) industry in the United States is showing promising signs of growth. As of 2019, the U.S. consumed 261 billion cubic feet (BCF) of RNG, primarily utilized by independent power producers, electric utilities, and various commercial and industrial entities. However, this figure represents only a small fraction of its potential. Research indicates that the U.S. could theoretically produce up to 2,200 BCF of RNG through anaerobic digestion alone, which would equate to about 11% of daily national natural gas consumption.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/295_Blog_Renewable Efforts Lag as Global Oil and Gas Demand Continues to Rise.jpg)
Recently, the progress toward an energy transition is hitting a snag. Sales of electric vehicles are decelerating, and the growth in wind and solar power needs to be keeping pace with expectations. To make matters more challenging, electricity prices are climbing when they were expected to fall. Amidst these setbacks, the oil and gas sectors are proving resilient. According to BP's latest energy outlook, not only are these energy mainstays here to stay, but their demand is expected to remain relatively high even after reaching a peak. Interestingly, BP forecasts that oil demand will reach its zenith next year, marking a critical moment in energy consumption trends. This isn't the first time BP has projected a peak in oil demand. Back in 2019, their review anticipated a decline in demand growth, but the prediction fell flat. Instead, oil demand surged to unprecedented levels following the end of the global pandemic lockdowns, defying previous forecasts and underscoring the enduring dominance of traditional energy sources in the global market.