The Perfect Couple: ONEOK, MPLX Partner on Downstream NGL Projects
ONEOK (OKE) and MPLX (MPLX) have partnered to build out the downstream component of their NGL value chain. The arrangement…
Equity
KMI Reports: What to Watch in 4Q Earnings
Kinder Morgan reported 4Q24 results and gave midstream investors the first data points of the earnings season. There were a…
Plains Adds Permian, Eagle Ford Gathering for $670MM
Plains All American Pipeline (PAA) made several bolt-on acquisitions totaling $670MM to expand its crude oil gathering footprint in the…
$844MM Outrigger Deal Kills Two Birds for KMI
Kinder Morgan will buy Outrigger Energy II’s Bakken G&P assets for $644MM. The acquisition can support two other projects KMI…
Canada Conquers Back
President-elect Trump recently suggested Canada could be taken over. Yet ENB is the market alpha in crude oil midstream and…
Winter Blitz Calls Transco Expansions into Action
Winter storms have ignited heating demand and increased flows on new expansions of Williams’ (WMB) Transcontinental pipeline, including the Southside…
EPIC! $2.2B Deal Vaults Phillips 66 to Midstream Elite
Energy Transfer, Enterprise, Equity, Natural Gas Liquids, Oneok, Permian, Phillips 66, Targa, The Daley Note
Phillips 66 (PSX) will buy EPIC Y-Grade’s NGL business for $2.2B in cash, moving PSX into an elite group of…
With FID, KMI Hints at Next Wave of Capital Spending
Kinder Morgan subsidiary Tennessee Gas Pipeline (TGP) is moving forward with the Mississippi Crossing project, securing long-term agreements for the…
Best of 2024: M&A in Permian: A Knife Fight for the NGL Barrel
Energy Transfer, Enterprise, Equity, Kinetik, MPLX LP, Natural Gas Liquids, The Daley Note, Western Midstream Partners
In our annual report Dirty Little Secrets, East Daley previewed how reduced leverage ratios and increased Free Cash Flow (FCF)…
Best of 2024: Data Center Demand Could Send Midstream to the Moon
The energy industry is abuzz about data centers and their potential to juice future natural gas demand. East Daley views…