Oneok completes Elk Creek pipeline
Midstream service provider Oneok Inc. on Dec. 11 said that the Elk Creek pipeline, which extends from the Williston Basin to the company's existing Mid-Continent NGL facilities in Bushton, Kan., has been completed. The pipeline has a transportation capacity of 240,000 barrels per day of unfractionated NGLs which could be expanded to 400,000 bbl/d with additional pump facilities. The company expects total Rocky Mountain NGL volumes transported via the Elk Creek and Bakken NGL pipelines to reach more than 240,000 bbl/d by the end of the first quarter of 2020.
Epic to construct 2nd fractionator at Texas complex
Epic Y-Grade LP plans to build a second 110,000-barrel-per-day greenfield fractionator at its complex located in Robstown, Texas, effectively boosting its fractionation capacity to 270,000 barrels per day. Epic Y-Grade reached a final investment decision on the second fractionator after obtaining fixed-fee multiyear supply contracts with gathering and processing companies in the Permian Basin.
'No silver bullet' for Antero's balance sheet, CFO says
Antero Resources Corp. executives reiterated the Appalachian driller's commitment to slashing debt amid low natural gas and NGL prices, just days after Moody's lowered the company's corporate family rating and changed its outlook to negative due to increased refinancing risks. The $750 million to $1 billion Antero expects to generate through asset sales in 2020 are targeted at reducing "absolute debt" from $3.9 billion to under $3 billion, according to Antero President and CFO Glen Warren.
Norwegian oil, gas output climbs further in November
The production of oil, NGLs and condensate in Norwegian waters averaged 2.0 million barrels per day in November, increasing from 1.8 million bbl/d in October, according to preliminary figures released by the Norwegian Petroleum Directorate on Dec. 12. NGL and condensate production in November averaged 277,000 bbl/d and 28,000 bbl/d, respectively.