Didn't get the memo: Kinder Morgan in discussions to build third Permian Basin gas pipeline.
Kinder Morgan Inc has begun internal discussions about building a third natural gas pipeline in the Permian Basin as demand for gas takeaway capacity continues to surge, Chief Executive Officer Steven Kean told investors on Wednesday.
As natural gas production has outpaced pipeline capacity in the Permian Basin, a gas glut has led to plummeting prices in the region, with spot prices at the Waha hub even trading at negative levels.
Kinder Morgan believes demand for gas takeaway capacity could grow by 2 billion cubic feet per day each year over the next few years, equivalent to the Houston pipeline operator's Gulf Coast Express project, Kean said.
North Sea deal: Chrysaor to buy COP's North Sea assets. Link here. Data points:
- buyer: private equity group
- $2.7 billion deal
- will add approx 72,000 boepd to Chrysaor's output
- Chrysaor: ambitious plans to become one of the largest producers in the aging basin since its $3 billion deal two years ago to acquire "a host" of Royal Dutch Shell's old assets.
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Accomplishments of the 115th US Congress, day 106:
Moving on, back to the market:
Holy mackerel -- UNP. We'll talk about this in a stand-alone post.