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Shell Midstream To Buy Pipelines In $630 Million Dropdown.
05/18/2017
Shell Midstream To Buy Pipelines In $630 Million Dropdown. See One of Them (Delta) on a Rextag Map.
The acquisition of 100% interest in the:
Refinery Gas Pipelines - ca. 100 miles of gas pipeline connecting objects operated along the Gulf Coast to Shell Chemical sites. (The pipelines transport a mix of methane, NGL and olefins.
Delta Pipeline - a roughly 130-mile onshore pipeline taking volumes from five offshore pipelines including Shell Midstream Partners’ Odyssey Pipeline and the Na Kika Pipeline. Connects offshore oil production to key onshore markets. See image above.
Na Kika Pipeline - approx. 80-mile offshore pipeline anchored by the Na Kika platform serving as a host to eight subsea fields. It connects to the Delta Pipeline at Main Pass 69.
Source: oliandgasinvestor.com
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Shell Midstream To Buy Pipelines In $630 Million Dropdown (Continued)
Another pipeline purchased by Shell on the featured map today.
Kinetik Holdings recently announced a series of transactions in the energy sector. They struck a deal to buy Durango Permian infrastructure for $765 million. At the same time, they're selling their 16% share in the Gulf Coast Express Pipeline to ArcLight Capital Partners for $540 million. The total purchase cost includes $510 million in cash paid immediately and an additional $30 million that will be paid later, depending on whether they decide to expand further.
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EOG Resources is pushing boundaries in Ohio's Utica oil play and now drilling on the Sable pad, also located in Noble County. This site features the 3.7-mile lateral currently under construction. The company's first multi-well pads in the area Timberwolf and Xavier have each produced over 200,000 barrels of oil since their inception—Timberwolf in August and Xavier in October. A third site, the four-well White Rhino pad in Noble County, is also showing promising early results, according to Keith Trasko, EOG’s Senior Vice President of Exploration and Production, who noted the wells are performing as expected in their initial weeks.