US shale producer Diamondback Energy is taking over Energen in an approximately $9.2 billion all-stock deal including debt that would boost Diamondback's footprint in the Midland and Delaware basins by 85% to 390,000 acres. The company expects the transaction to result in at least $3 billion in cost savings over time.
Energy Transfer Partners is looking to expand the Dakota Access Pipeline's capacity from 500,000 barrels per day up to 570,000 barrels per day, with an official announcement likely to be made soon, says ETP CEO Kelcy Warren.
While the Permian Basin remains plagued by pipeline bottlenecks and labor shortages, many US oil producers focused on other shale plays are lifting their 2018 output projections without raising their capital expenditure budgets. Eagle Ford- and Bakken Shale-focused Marathon Oil increased its full-year production target to 400,000-415,000 barrels of oil equivalent per day, while EOG Resources expects to pump 706,700-728,300 barrels of oil equivalent per day, up from the previous forecast of 685,800-728,500 barrels of oil equivalent per day.
Williams Cos. has received permission from the Federal Energy Regulatory Commission to proceed with the Rivervale South to Market project, a Transco natural gas pipeline expansion. The project will add 190 million cubic feet per day of firm transportation capacity and should enter service before winter 2019-2020.
The US should adopt a national clean-energy standard as a means to curb greenhouse gas emissions and give states flexibility to encourage the use of low-emitting energy sources, write Justin Gillis and Jameson McBride. If Congress can't pass such a standard, they argue, then advocates must turn to states for support as they have more control over the electrical grid anyway.
The Lake Erie Energy Development Corp.'s Icebreaker offshore wind pilot proposed for Lake Erie has the potential to change the way people think about energy production in freshwater lakes, says LEEDCo Vice President of Operations David Karpinski. "People everywhere want cleaner and more reliable and cheaper energy, and this project will show the value of doing that in the Great Lakes," he says.
Mesalands Community College and the Grady Wind project in New Mexico joined in last week's American Wind Week celebration by hosting open houses and tours. The American Wind Energy Association says the state has 17 wind farms with 1,005 turbines under various stages of development.
Seventus has purchased Gaelectric's 235-megawatt Jawbone Wind Projects in Montana. The first phase will feature 38 S111 turbines from Suzlon for a total capacity of 80 MW and will likely break ground in 2019.
Pattern Energy and Canadian pension fund Public Sector Pension Investment Board have purchased the 147-megawatt Mont Sainte-Marguerite Wind project outside Quebec City. Pattern Energy will own a 51% stake in the wind farm.
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