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The Daley Note 1/22/2021

The Daley Note 1/22/2021

  •  Satellite Now in Orbit: Energy Transfer (ET) announced it loaded the first Very Large Ethane Carrier (VLEC) from its recently completed Orbit ethane export terminal in Nederland, TX, which East Daley estimates will generate an annual $100 million of EBITDA. This VLEC announcement highlights the first-mover advantage ET has in this space. (ET), (VLEC)
  • Biden’s Freeze on Federal Leasing Sends Chill Through Midstream: Day Two of the Biden administration brought new stress to the oil patch as the newly elected president followed through on plans to halt new drilling on federal lands, sending many oil and gas shares lower.
  • Wells Ranch Crude Needs Higher WTI: Noble Midstream (NBLX) announced a new dedication agreement with Chevron (CVX) on Jan. 8 to provide oil transportation services from its Wells Ranch development area in the DJ Basin. Crude produced on the dedicated acreage will be gathered by NBLX’s existing Wells Ranch infrastructure on a fee-for-service basis. (NBLX), (CVX)
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