Delek pays $128M for 33% of Plains’ Red River system

Plains All American Pipeline Tuesday announced it’s formed a joint venture with Delek Logistics Partners in the existing Red River Pipeline system, with Delek paying $128 million for a 33% share in the line. Plains retained a 67% interest in the JV and will continue to operate the Red River crude oil system, Kallanish Energy … Read more

MPLX touting liquids storage project

HOUSTON – There’s a silent battle being waged by no fewer than three groups trying to secure customers and/or funding for underground natural gas liquids storage in the states of Pennsylvania, Ohio and West Virginia. With Shell Chemical pushing hard to have its world scale ethane cracker 30 miles northwest of Pittsburgh operational by the … Read more

Halcon Resources devising new strategic, financial plans

      Halcon Resources reported a first quarter 2019 net loss of $336.6 million, or $2.12 per diluted share, as it develops new strategic and financial plans, Kallanish Energy reports. That compares to a Q1 2018 net loss of $2.6 million, or 2 cents a share. The Denver-based company said it generated total revenue of … Read more

Invictus signs Zimbabwe gas sales pact

      Independent oil and gas company Invictus Energy announced Tuesday a Memorandum of Understanding (MoU) with a Zimbabwe-based manufacturer for 20 years of natural gas, Kallanish Energy learns. The gas will come from the Cabora Bassa project, in the onshore Cabora Bassa Basin in Zimbabwe, a joint venture by Invictus (80% ownership) and … Read more

Executive order could benefit Appalachia

      President Trump’s April 10 Executive Orders are the directives which, as the President said “ends the war on American energy.” One order primarily takes the shackles off energy infrastructure (pipelines) construction, while the second mandates the Environmental Protection Agency to review/modify an “outdated” section of the Clean Water Act that requires applicants … Read more

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