Yesterday NGL Energy Partners LP announced its new partnership with E. Osterman Propane, Inc. in a move that could place NLG Energy among the top ten retail propane marketers in the country, according to a MarketWatch report. The agreement states that Osterman Propane will contribute all its assets, including cash and common units, to NLG […]
The plan: Tap into the propane reserves from the far north of Alaska. For the last two years, the Alaska Natural Gas Development Authority (ANGDA) has pitched a project to bring propane production to the far north of the state. The Prudhoe Bay oil fields produce huge quantities of natural gas and byproduct liquids, which […]
AmeriGas, the country’s largest propane retailer, has announced some changes to its leadership, the Philadelphia Business Journal reported last week. The company’s board named Jerry E. Sheridan vice president and chief operating officer. He was previously chief financial officer. In turn, John S. Iannarelli was picked to be Sheridan’s replacement as vice president and CFO. […]
In February, the propane supplier NGL Energy Partners filed paperwork for an initial public offering of $84.5 million in common units. Now the company has put out some more of the details, the Wall Street Journal reported last night. NGL Energy, a recently formed partnership that controls the retailer Silverthorne, estimated the IPO’s size would […]
A piece of the machinery that gets natural gas liquids from the Permian Basin to the processing facilities at the propane hub of Mont Belvieu has changed hands in an $85 million deal. Houston’s Buckeye Partners sold its 20-percent stake in the West Texas LPG Pipeline to Atlas Pipeline Partners, Buckeye announced yesterday. The pipeline […]
. We’ve got to make sure that we’re extracting natural gas safely, without polluting our water supply. That’s why I’ve asked Secretary [Steven] Chu, my energy secretary, to work with other agencies, the natural gas industry, states, and environmental experts to improve the safety of this process. — Pres. Barack Obama, 30 March 2011 Among […]
To celebrate the 15th anniversary of their listing on the New York Stock Exchange, Suburban Propane was in town today to ring the closing bell on the trading session. Michael Dunn, the president and chairman of the board at the New Jersey-based propane retailer, took the honors with the gavel. And fittingly, the market was […]
A large piece of the machinery that gets propane from the ground to the marketplace — including pipeline, natural gas liquids (NGLs) storage and processing plants — changed hands yesterday in a deal worth about $1.93 billion dollars. The buyer is a joint venture between Energy Transfer Partners (which operates Heritage Propane) and Regency Energy […]
Here’s a statistic that is getting tossed around in some energy stories today, illustrating the industry’s interest in the Marcellus shale: The Norwegian oil company, Statoil, with its Chesapeake Energy partners, says it could drill 17,000 natural gas wells along the gas-rich Appalachian formation over the next 20 years. That amounts to 2.33 new wells […]
The business day began with an announcement from Ferrellgas that the Kansas-based propane titan has bought Ram Propane, an independent retailer in Dubois, Wyoming (town slogan: “Where real cowboys work and play”). It is Ferrellgas’ fourth acquisition in the last eight months. The price of the deal was not announced in the company’s press release. The […]