BOE Report

Phillips 66 to grow Permian midstream business with EPIC NGL acquisition

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE:PSX) announced today that it has entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids pipelines, fractionation facilities and distribution systems (“EPIC NGL”) for total cash consideration of $2.2 billion, subject to customary purchase price adjustments. Upon closing, this transaction is expected to be immediately accretive to earnings per share. “This [Read more]

Pembina Pipeline Corporation Announces Closing of PGI’s Acquisition of Working Interests From Whitecap Resources and Provides Karr and Gold Creek Update

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce the closing of Pembina Gas Infrastructure Inc.’s ("PGI") acquisition of a 50 percent working interest in Whitecap Resources Inc.’s ("Whitecap") 15-07 Kaybob Complex (the "Kaybob Complex"), effective December 31, 2024. As part of the transaction, Whitecap has entered into a long-term take-or-pay agreement for PGI’s capacity in the Kaybob Complex and committed [Read more]

Cheniere Achieves First LNG at the Corpus Christi Stage 3 Project

HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE: LNG) today announced that liquefied natural gas (“LNG”) was produced for the first time from the first train (“Train 1”) of the Company’s Corpus Christi Stage 3 Liquefaction Project (“CCL Stage 3”). The commissioning process continues, and Cheniere expects substantial completion of Train 1 to be achieved at the end of the first quarter of 2025, over six months ahead of the guaranteed completion date. Upon [Read more]

STEP Energy Services Ltd. Announces Agreement to Mutually Terminate Arrangement

CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP") (TSX: STEP) announces that effective December 19, 2024, STEP, 2659160 Alberta Ltd. and the limited partnerships comprising ARC Energy Fund 8 (a private equity fund advised by ARC Financial Corp.) have entered into a termination agreement that mutually terminates the arrangement agreement originally entered into on November 3, 2024 (the "Agreement"). The termination is without liability or cost to any party. The decision to [Read more]

Energy Transfer Signs Agreement to Supply Chevron 2.0 Million Tonnes of LNG Per Annum From Its Lake Charles LNG Export Facility

DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) today announced its subsidiary, Energy Transfer LNG Export, LLC (Energy Transfer LNG), has entered into a 20-year LNG Sale and Purchase Agreement (SPA) with Chevron U.S.A. Inc. (Chevron) related to its Lake Charles LNG project. Under the SPA, Energy Transfer LNG will supply 2.0 million tonnes of LNG per annum (mtpa) to Chevron. The LNG will be supplied on a free-on-board (FOB) basis and the purchase price will consist of a fixed liquefaction [Read more]

Tennessee Gas Pipeline Announces Final Investment Decision on Mississippi Crossing Project

Project designed to transport up to 1.5 Bcf/d of natural gas benefiting Southeast U.S. markets HOUSTON--(BUSINESS WIRE)--Tennessee Gas Pipeline, L.L.C. (TGP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI), today announced its decision to proceed with its Mississippi Crossing Project (MSX Project) after securing long-term, binding transportation agreements with customers for all the capacity. “This transformative project will benefit the Southeast region as it will provide incremental [Read more]

STEP Energy Services Ltd. Announces That Special Meeting Will Commence at 5:00 P.M. (Mountain Time) Today

CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP" or the "Company") today announced that it has postponed the start of its special meeting (the "Meeting") of shareholders that was scheduled to commence at 10:00 a.m. (Mountain time) to 5:00 p.m. (Mountain Time) today (December 19, 2024). While a number of shareholders have switched or withdrawn their votes, based on current tabulations, the previously announced Arrangement would be defeated. Shareholders who have given a [Read more]

STEP Energy Services Ltd. Announces Both Leading Independent Proxy Advisors Recommend STEP Shareholders Vote for the Arrangement With ARC

ISS cites "significant premium" and "certain and immediate value" in endorsing the Arrangement Basis for Glass Lewis endorsement includes recognition of "considerable" negotiation process STEP Shareholders are encouraged to vote in advance of the proxy deadline of December 17, 2024 at 10:00 a.m. (Mountain time) The Canada Post service disruption may cause Canadian STEP Shareholders not to receive physical Meeting materials. STEP Shareholders who have questions or need assistance in [Read more]

Pembina Pipeline Corporation Announces 2025 Guidance and Provides Business Update

All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to certain financial measures that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles ("GAAP"), including adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"). For more information see "Non-GAAP and Other Financial Measures" herein. CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation [Read more]

Imperial provides 2025 corporate guidance outlook

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) today provided an update on its corporate guidance outlook for 2025. The company’s strategy remains focused on maximizing the value of its existing assets and progressing advantaged high-value growth opportunities while delivering industry-leading returns to shareholders. “Our 2025 plan builds on our momentum and positions the company to achieve even stronger operating performance with higher volumes and lower unit [Read more]