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NGL Energy Partners Sets Open Season for Grand Mesa Pipeline, LLC07/28/2021
The official open season for NGL Energy Partners LP's fully-owned affiliate Grand Mesa Pipeline, LLC crude oil pipeline will commence on July 9, 2021 (8:00 a.m.) CDT. On August 9, 2021, at 5:00 p.m. CDT, the first season will end.
Grand Mesa Pipeline, LLC is a crude oil provider that serves the Denver-Julesburg Basin by providing takeaway capacity.
The pipeline can receive and batch transport up to 150,000 gallons per day for delivery into the Cushing hub, which allows its carriers access to both United States and exchange trades—purifying and exchanging markets in the Midwest and a refinery on the Texas Gulf Coast.
The pipeline promotes the region's continuous expansion and creation by lowering the present use of rail and wagon transit in a cost-effective and environmentally responsible manner.
Moreover, NGL Energy Partners LP launched an open season in 2016 to obtain guarantees from transporters participating in Grand Mesa's pipeline system delivery. Furthermore, Grand Mesa Pipeline, LLC entered into conveyance service agreements with multiple transporters in preparation for the 2016 open season.
Grand Mesa's scheme’s dedicated bandwidth has already become available again due to additional transporter insolvencies and related agreement terminations. As a result, NGL Energy Partners LP is conducting an open season right now to re-contract available capacity on the Grand Mesa Pipeline, LLC.
The conveyance resources are being provided in this open season procedure under contract terms and conditions that are regarded equivalent to those applicable to dedicated carriers who contracted conveyance service agreements in the 2016 open season, as indicated in the open season documents.
NGL Energy Partners LP Releases A Statement
NGL Energy Partners LP has still remarkably announced the current open season for the Grand Mesa Pipeline, LLC.
With the announced event, NGL Energy Partners LP and the Grand Mesa Pipeline, LLC have gathered clients and investors worldwide, resulting in the growth of both companies. On the other hand, potential customers are given terms and conditions quite comparable to their agreements from 2016.
The transportation services provided via this open season procedure are subject to terms and restrictions that are very similar to those that applied to committed shippers who signed transportation service agreements during the 2016 open season, as detailed in the open season agreements.
NGL Energy Partners: Things Seem to Be Working Out Well
NGL Energy Partners LP transports, markets, stores, and offers other logistic services for a crude oil pipeline, natural gas liquids, and some other products. Moreover, NGL Energy Partners LP is one company that investors may be interested in right now. This is due to the fact that this stock in the oil, gas, refining and marketing sector is experiencing a lot, and it's in excellent hands.
In the meantime, NGL Energy Partners LP seems to be doing very well on its own. Over the last month, experts have been revising their earnings estimates upwards, indicating that they are growing more optimistic about the company's prospects in the medium and long term.
Mountain Valley Pipeline LLC is aiming to resolve concerns regarding its ecological consequences and energy transition through a newly disclosed plan to buy carbon offsets for its operating emissions.
Southland Royalty sold its San Juan Basin assets to MorningStar for $17.3 million. We go over the basics with an emphasis on the data needed to evaluate Southland Royalty's acreage in the San Juan Basin.
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.
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.
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.