Steve Reese’s Post

Here’s a Bravo to Brazos There’s nothing better than winding down the week with a success story still in the making, one that started small like they often do and plump with big ideas. Reese Energy Consulting today is following one of those stories with the latest news from Fort Worth-based Brazos Midstream. What began in 2015 with four guys in a truck on the hunt for a Permian deal and backing from PE firm Old Ironsides Energy, has launched this company and their big ideas into the Permian’s largest, privately held midstream company. Those big ideas initially included building grander gathering and processing systems in the Delaware, starting with the acquisition of a crude oil gathering system Brazos would later describe as “a perfect midstream starter kit.” Two years later, the company acquired Callon Petroleum’s natural gas gathering system in the Delaware. By 2021, Brazos had become one of the sub-basin’s largest privately-owned natural gas and crude oil midstreamers, operating 800 miles of oil and gas gathering pipe, a gas processing complex with 460 MMCF capacity, and 75 MBbls of crude storage. Then a fortuitous opportunity happened along in the form of Diamondback Energy’s Rattler Midstream and a “Hello, lover” with assets for sale in the Midland. Since then, Brazos has plied its craft building grander gathering and processing systems, now reporting completion on a new gas 200 MMCFD gas plant in the Midland’s Martin County set for service in October. Construction is near completion on 175 miles of gas gathering pipe that will give Brazos 260 miles of gathering pipeline and 10 compressor stations in its Midland system. The company also plans to build a second processing plant slated for startup late next year which will expand its Midland capacity to 500 MMCFD. What do you think? Learn more about REC and our natural gas and midstream consulting services at https://lnkd.in/ewhkGFa. For more information about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.     

Here’s a Bravo to Brazos There’s nothing better than winding down the week with a success story still in the making, one that started small like they often do and plump with big ideas. Reese Energy Consulting today is following one of those stories with the latest news from Fort Worth-based Brazos Midstream. What began in 2015 with four guys in a truck on the hunt for a Permian deal and backing from PE firm Old Ironsides Energy, has launched this company and their big ideas into the Permian’s largest, privately held midstream company. Those big ideas initially included building grander gathering and processing systems in the Delaware, starting with the acquisition of a crude oil gathering system Brazos would later describe as “a perfect midstream starter kit.” Two years later, the company acquired Callon Petroleum’s natural gas gathering system in the Delaware. By 2021, Brazos had become one of the sub-basin’s largest privately-owned natural gas and crude oil midstreamers, operating 800 miles of oil and gas gathering pipe, a gas processing complex with 460 MMCF capacity, and 75 MBbls of crude storage. Then a fortuitous opportunity happened along in the form of Diamondback Energy’s Rattler Midstream and a “Hello, lover” with assets for sale in the Midland. Since then, Brazos has plied its craft building grander gathering and processing systems, now reporting completion on a new gas 200 MMCFD gas plant in the Midland’s Martin County set for service in October. Construction is near completion on 175 miles of gas gathering pipe that will give Brazos 260 miles of gathering pipeline and 10 compressor stations in its Midland system. The company also plans to build a second processing plant slated for startup late next year which will expand its Midland capacity to 500 MMCFD. What do you think? Learn more about REC and our natural gas and midstream consulting services at https://lnkd.in/ewhkGFa. For more information about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.     

You Say Goodbye and I Say Hello Reese Energy Consulting today is following the latest from three midstreamers—one exiting a partnership, one diving into a new one, and both with MPLX GP LLC front and center. We start with Houston-based Summit Midstream, which operates natural gas, crude oil, and water gathering systems in Appalachia, the Williston, DJ, Piceance, and Barnett. The company also holds a 36% and 38% interest, respectively, in Ohio Gathering Co. and Ohio Condensate Co. Summit jumped into this JV back in 2014, which provides gas gathering, processing, fractionation, and storage services in the Utica. Fast-forward to last September when Summit announced a Review of Strategic Alternatives (RSA), followed by a 2023 4Q net loss of $15 million reported less than two weeks ago. Summit says it will now sell its Utica interests, along with other assets there to MPLX in an all-cash $625 million deal. The company points the finger at gas prices to focus more on its crude assets. Aside from divesting assets, the RSA also includes a potential sale of the company. Meanwhile, Alberta-based pipeline giant Enbridge, which entered the U.S. power and gas utility biz last year in a $14 billion deal with Dominion, has partnered up with WhiteWater Midstream, I Squared Capital, and MPLX to tag team a three-pipeline project that will usher more Permian gas to the Gulf Coast’s LNG Central. The JV will include the 450-mile Whistler Pipeline near the origination point of Enbridge’s proposed 137-mile Rio Bravo at Agua Dulce, a 50% interest in the Waha gas storage facility, and a 70% stake in the proposed 40-mile ADCC pipeline. Combined, the pipeline platform will deliver gas to Cheniere at Corpus Christi and NextDecade’s Rio Grande LNG facility. What do you think? Learn more about REC and our natural gas and LNG consulting services at https://lnkd.in/ewhkGFa.

You Say Goodbye and I Say Hello Reese Energy Consulting today is following the latest from three midstreamers—one exiting a partnership, one diving into a new one, and both with MPLX GP LLC front and center. We start with Houston-based Summit Midstream, which operates natural gas, crude oil, and water gathering systems in Appalachia, the Williston, DJ, Piceance, and Barnett. The company also holds a 36% and 38% interest, respectively, in Ohio Gathering Co. and Ohio Condensate Co. Summit jumped into this JV back in 2014, which provides gas gathering, processing, fractionation, and storage services in the Utica. Fast-forward to last September when Summit announced a Review of Strategic Alternatives (RSA), followed by a 2023 4Q net loss of $15 million reported less than two weeks ago. Summit says it will now sell its Utica interests, along with other assets there to MPLX in an all-cash $625 million deal. The company points the finger at gas prices to focus more on its crude assets. Aside from divesting assets, the RSA also includes a potential sale of the company. Meanwhile, Alberta-based pipeline giant Enbridge, which entered the U.S. power and gas utility biz last year in a $14 billion deal with Dominion, has partnered up with WhiteWater, I Squared Capital, and MPLX to tag team a three-pipeline project that will usher more Permian gas to the Gulf Coast’s LNG Central. The JV will include the 450-mile Whistler Pipeline near the origination point of Enbridge’s proposed 137-mile Rio Bravo at Agua Dulce, a 50% interest in the Waha gas storage facility, and a 70% stake in the proposed 40-mile ADCC pipeline. Combined, the pipeline platform will deliver gas to Cheniere at Corpus Christi and NextDecade’s Rio Grande LNG facility. What do you think? Learn more about REC and our natural gas and LNG consulting services at https://lnkd.in/ewhkGFa.

Check out this post from REC!

On Your Mark…Get Set, Haynesville Producers in the Haynesville this year have no doubt endured quite the teeter-totter ride. That’s mostly due to low-down-dirty natural gas prices that have taken a whippin’ stick to operators working their assets off in the nation’s third-largest natural gas basin. Early on in 2024, some of the biggest E&Ps here announced decreasing production or shutting in wells altogether in a wait-and-see to move abundant supplies to gas-hungry Gulf Coast LNG facilities. This, while also awaiting more pipeline capacity to get them there. Reese Energy Consulting today is following the latest news from the Haynesville, where East Daley Analytics tells us Haynesville operators are sitting on 1.2 BCFD of unused gas production that’s waiting for love and rescue amid a growing inventory of DUCs. East Daley predicts the winter season’s increased LNG demand will trigger gas prices above $3/MMBtu, which is expected to lead to a resurgence in the Haynesville, starting with that 1.2 BCFD of “ready” production coming online ahead of rig-driven supply. It’s also welcomed news for the basin’s top midstreamers to include Energy Transfer, Williams, and DT Midstream ahead of next year’s startup of Plaquemines LNG, and Cheniere Energy, Inc.’s Corpus Christi stage 3 expansion that will add seven midscale trains. New cross-border pipeline projects between Texas and La., are currently at play, including Kinder Morgan, Inc.’s Texas-Louisiana Expansion slated to go online in 2026. Williams’ Louisiana Energy Gateway, which will feed gas from the Haynesville to the Gulf Coast, looks to start service next year. Meanwhile, rumor bees are all abuzz that Dallas Cowboy’s owner Jerry Jones and his Haynesville-centered, Comstock Resources, could be looking to take his company private. What do you think? Learn more about REC and our natural gas expertise in the Haynesville at https://lnkd.in/ebXT2mS. For more information about our new online natural gas training courses, visit us at https://lnkd.in/g_jDyx_Y. #Energy #naturalgas #reeseenergyconsulting

ONEOK announces closing of controlling interest in EnLink Midstream from global infrastructure partners To view article please click here: https://hubs.ly/Q02TzWdP0 Does your company have news to share with the industry? Please contact: marketing@storageterminalsmag.com and we will be happy to assist. #storageterminalsmagazine #tankstorage #oil #chemicals #gas #tankterminals #bulkliquids #tanks #storagetanks #storageterminals #liquids #storageterminalsmag #news

You Say Goodbye and I Say Hello Reese Energy Consulting today is following the latest from three midstreamers—one exiting a partnership, one diving into a new one, and both with MPLX GP LLC front and center. We start with Houston-based Summit Midstream, which operates natural gas, crude oil, and water gathering systems in Appalachia, the Williston, DJ, Piceance, and Barnett. The company also holds a 36% and 38% interest, respectively, in Ohio Gathering Co. and Ohio Condensate Co. Summit jumped into this JV back in 2014, which provides gas gathering, processing, fractionation, and storage services in the Utica. Fast-forward to last September when Summit announced a Review of Strategic Alternatives (RSA), followed by a 2023 4Q net loss of $15 million reported less than two weeks ago. Summit says it will now sell its Utica interests, along with other assets there to MPLX in an all-cash $625 million deal. The company points the finger at gas prices to focus more on its crude assets. Aside from divesting assets, the RSA also includes a potential sale of the company. Meanwhile, Alberta-based pipeline giant Enbridge, which entered the U.S. power and gas utility biz last year in a $14 billion deal with Dominion Energy, has partnered up with WhiteWater Midstream, I Squared Capital, and MPLX to tag team a three-pipeline project that will usher more Permian gas to the Gulf Coast’s LNG Central. The JV will include the 450-mile Whistler Pipeline near the origination point of Enbridge’s proposed 137-mile Rio Bravo at Agua Dulce, a 50% interest in the Waha gas storage facility, and a 70% stake in the proposed 40-mile ADCC pipeline. Combined, the pipeline platform will deliver gas to Cheniere at Corpus Christi and NextDecade’s Rio Grande LNG facility. What do you think? Learn more about REC and our natural gas and LNG consulting services at https://lnkd.in/ebXT2mS. #Energy #Midstream #naturalgas #lng #reeseenergyconsulting

My post today for Steve Reese and Reese Energy Consulting. New Midstreamers Stake Claims Along the Oil and Gas Coast That Never Sleeps Following its analysis through the end of August, our friends at Rystad Energy today reports U.S. oil and gas M&A this year could surpass the $155 billion chalked up in 2023. With $100 billion already on the books in 2024, and another $46 billion in assets currently up for sale, buyers and sellers still have one-third of a year to make their final selections and bring them to the checkout counter. Within one week bridging the Labor Day holiday, two midstream operators have put their choices on the conveyor belt.   Reese Energy Consulting is following the latest M&A news, starting with Voyager Midstream which just landed its first acquisition—this one, in the Haynesville stretching from Texas to La. The start-up, formed a year ago, set up offices in Houston and Midland where the two principals each call home, then set out shopping with an initial focus on the Permian. Then, a Phillips 66 divestiture plan happened along with the perfect asset up for grabs and an opportunity Voyager couldn’t resist. For an undisclosed price rumored to be ~$200 million, Voyager is now set to sail with 550 miles of gathering pipe, 400 MCFD of cryogenic gas processing capacity, and 12 MBPD of fractionation capacity. But there’s more in this deal to include the Carthage trading and delivery hub that offers a series of intrastate pipelines to multiple markets south and northeast, including Gulf Coast LNG centers in Texas and La. Speaking of firsts and the Gulf Coast, Houston-based Edgewater Midstream has found a diamond girl in the form of Shell’s Sinco refined products pipeline system in the Houston refining corridor for an undisclosed price. The Sinco system is comprised of a series of intrastate refined products pipe and the Colex East and West terminals connecting to the Deer Park Refinery. What do you think? Learn more about REC and our midstream consulting services at https://lnkd.in/eAebAz8. For more information about our online natural gas training courses, visit us at https://lnkd.in/gzcfeQqC.

Storage Terminals Magazine: ONEOK announces closing of controlling interest in EnLink Midstream from global infrastructure partners To view article please click here: https://hubs.ly/Q02TzWdP0 Does your company have news to share with the industry? Please contact: marketing@storageterminalsmag.com and we will be happy to assist. #storageterminalsmagazine #tankstorage #oil #chemicals #tankterminals #bulkliquids #tanks #storagetanks #storageterminals #liquids #storageterminalsmag #news