Reading the 4Q25 Tea Leaves: Bahia, Northwind Set Table for Next Earnings; KMI Opens With Gas-Driven Strength
Kinder Morgan (KMI) opened the 4Q25 earnings season with a bang, reporting record earnings from its natural gas business. Enterprise…
Fundamentally Speaking
Permian M&A: Consolidating the Edge to Fortify the Core
Midstream companies in 2025 accelerated efforts to vertically integrate amid rising industry concentration. This trend has driven a rotation of…
Gassier Permian Wells Prompt Investor Consternation, Midstream Opportunities
Hydrocarbon production in the Permian Basin is growing gassier. Depending on where you sit in the industry, the trend is…
ET May Convert NGL Line to Ride Permian Gas Pipe Boom
Energy Transfer (ET) is evaluating whether to convert a Permian NGL trunkline to natural gas service, a move that would…
Antero Boosts Appalachian Portfolio, Adds Liquids in Pair of Deals
Antero Resources (AR) announced a pair of transactions that reshape its Appalachian portfolio. The producer will acquire HG Energy II’s…
Targa Acquires Stakeholder for $1.25B, Adding Processing, NGL Barrels in Delaware
Targa Resources (TRGP) is doubling down on the northern Delaware Basin. On Dec. 1, the company announced it will acquire…
Exxon Takes 40% Stake in Bahia Pipeline, Binding its Permian Strategy to Enterprise
ExxonMobil (XOM) has agreed to acquire a 40% joint interest in Enterprise Products’ (EPD) Bahia NGL pipeline, sealing a deal…
Non-Core Asset of the Week: Fayetteville Express Pipeline
Energy Transfer (ET) and Kinder Morgan (KMI) each own 50% of the 2.0 Bcf/d Fayetteville Express Pipeline (FEP), a 185-mile,…
Non-Core Asset of the Week: Fayetteville Express Pipeline
Energy Transfer (ET) and Kinder Morgan (KMI) each own 50% of the 2.0 Bcf/d Fayetteville Express Pipeline (FEP), a 185-mile,…
ET May Upsize Desert Southwest Project After Strong Open Season
Energy Transfer (ET) is looking to upsize its Desert Southwest pipeline after selling out the initial 1.5 Bcf/d of capacity in a recent open season. The…