Updated Sep 25, 2024
9/25/24
As negative natural gas prices plague the Permian Basin, one of the play’s largest privately held midstream firms is seeking to alleviate takeaway constraints to generate value for oil producers.
A deal by Enterprise Products Partners LP to snap up a Permian Basin sour gas midstream operator will accelerate the Houston giant’s strategy in the nation’s largest producing region by “at least three or four years,” a top executive said Wednesday.
MPLX LP management said two strategic transactions announced in the first quarter would open the door to growth opportunities in the Marcellus and Utica shales and the Permian Basin.
The exploration and production sector may be feeling the heat from slumping natural gas prices, but they had little impact on Enterprise Products Partners LP’s Permian Basin operations during the first quarter, executives said Tuesday.
Enterprise Product Partners LP has begun service at the Mentone 3 cryogenic natural gas processing plant in West Texas, one of several steps midstream companies are taking this year to add sorely needed takeaway capacity from the Permian Basin.
Midstream giant Williams reported a jump in earnings and, during accompanying investor presentations, touted an expected spike in natural gas demand through this decade and into the next even if new political or regulatory roadblocks emerge.
Calgary-based AltaGas Ltd. has sanctioned the Pipestone Natural Gas Processing Plant Phase II expansion project in the Alberta Montney Shale region.
Williams has asked FERC to authorize an expansion of its MountainWest Overthrust Pipeline LLC system to natural gas customers in the West.
In the face of operational issues across its gathering and processing systems in the third quarter, Targa Resources Corp. is progressing projects in the Permian Basin to meet the infrastructure needs of producers anticipating strengthening export demand.
Clearfork Midstream LLC said Tuesday it culminated a series of expansions across its Holly System in North Louisiana, boosting its gathering and processing (G&P) volumes there above 1.0 Bcf/d as the company responds to strong demand from natural gas producers in the Haynesville Shale.