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Hess Announces Bakken Midstream Joint Venture Valued at $5.35 Billion
Hess Corporation (NYSE: HES) (the “Company”) announced today that it has agreed to sell a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners, a leading global infrastructure investor with an extensive midstream energy investment track record, for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners. Upon closing, the joint venture will incur $600 million of debt through a 5-year Term Loan A facility with proceeds distributed equally to both partners, resulting in total after-tax cash proceeds, net to Hess, of $3.0 billion. In addition the joint venture will have independent access to capital including a $400 million 5-year Senior Revolving Credit Facility, which is fully committed. The joint venture upon closing plans to continue to pursue a proposed initial public offering (IPO) of Hess Midstream Partners LP common units.

date.png01 Jul 2015 11:13 | comments.png 0 Comments | tags.png bakken hess n-america pipeline usa [ More ]

Phillips 66 Becomes Joint Venture Partner with Energy Transfer to Build Bakken Crude Oil Pipelines
Energy Transfer Equity, L.P. (NYSE:ETE), Energy Transfer Partners, L.P. (NYSE:ETP) (ETE and ETP collectively, “Energy Transfer”) and Phillips 66 (NYSE:PSX) announced that they have formed two joint ventures to develop the previously announced Dakota Access Pipeline (DAPL) and Energy Transfer Crude Oil Pipeline (ETCOP) projects. Energy Transfer holds a 75 percent interest in each joint venture and will operate both pipeline systems. Phillips 66 owns the remaining 25 percent interests and will fund its proportionate share of the construction costs. The DAPL and ETCOP projects are expected to begin commercial operations in the fourth quarter of 2016.

date.png29 Oct 2014 18:08 | comments.png 0 Comments | tags.png bakken energy-transfer n-america phillips-66 pipeline usa [ More ]

Hess Corporation, North Dakota Officials Gather to Celebrate Expansion of Tioga Gas Plant
Hess Corporation (NYSE:HES) was joined today by Governor Jack Dalrymple, Senator John Hoeven and a host of other government officials to commemorate the recently completed expansion of the Tioga Gas Plant, which more than doubles the operational capacity of the facility.

date.png20 May 2014 12:15 | comments.png 0 Comments | tags.png bakken hess n-america usa [ More ]

Dalrymple Announces First Shipment of Bakken Crude Arrives at Delta's Oil Refinery in Pennsylvania
Gov. Jack Dalrymple today announced that Delta Air Lines has received its first shipment of Bakken crude oil at its refinery in Trainer, Pa., becoming the latest U.S. company to capitalize on North Dakota’s growing energy industry. The crude oil will be refined into jet fuel for Delta’s fleet of airplanes. The company is using Bakken crude as a way to improve profits and retain jobs at its refinery. The plant employs more than 400 people.

date.png21 Feb 2013 07:06 | comments.png 0 Comments | tags.png bakken delta-air n-america refinery usa [ More ]

ONEOK Partners Elects Not to Proceed With Bakken Crude Express Pipeline Project
ONEOK Partners, L.P. (NYSE: OKS) today announced that it did not receive sufficient long-term transportation commitments during its recently concluded open season for the Bakken Crude Express Pipeline. As a result, the partnership has elected not to proceed with plans to construct the pipeline.

date.png03 Dec 2012 10:20 | comments.png 0 Comments | tags.png bakken n-america oneok pipeline usa [ More ]

ONEOK Partners Announces Open Season for Bakken NGL Pipeline
ONEOK Partners, L.P. (NYSE: OKS) today announced that it is holding an open season for its previously announced Bakken Natural Gas Liquids (NGL) Pipeline.

date.png14 Nov 2012 20:49 | comments.png 0 Comments | tags.png bakken n-america ngl oneok pipeline usa [ More ]

Black Hills Corp. Closes On Sale Of Williston Basin Oil And Gas Assets And Announces Early Retirement Of $225 Million In Debt
Black Hills Corp. (NYSE: BKH) today said that its oil and gas subsidiary, Black Hills Exploration & Production, Inc., closed its previously announced sale of approximately 85 percent of its Bakken and Three Forks shale assets in the Williston Basin for about $243 million, subject to customary postclosing adjustments. The properties were sold effective July 1, 2012.

date.png30 Sep 2012 08:42 | comments.png 0 Comments | tags.png bakken black-hills n-america upstream usa [ More ]

ONEOK Partners Announces Open Season for Bakken Crude Express Pipeline
ONEOK Partners, L.P. (NYSE: OKS) today announced that it is holding an open season for its previously announced Bakken Crude Express Pipeline.

date.png21 Sep 2012 05:24 | comments.png 0 Comments | tags.png bakken n-america oneok pipeline usa [ More ]

BNSF Expands Bakken Oil Transport Capacity to One Million Barrels per day
BNSF Railway (BNSF) today announced that it has increased capacity in 2012 to enable the railroad to haul one million barrels per day out of the Williston Basin in North Dakota and Montana. This increased capacity will allow the energy industry to continue the record expansion of oil production in the Williston Basin and to ship the new production to markets throughout the U.S. It will also benefit shippers of other commodities, including agricultural products.

date.png05 Sep 2012 05:42 | comments.png 0 Comments | tags.png bakken bnsf n-america railway upstream usa [ More ]

Oil trains rolling
Statoil starts transporting Bakken crude from North Dakota in USA to market at the start of September by rail - significantly increasing the oil’s value.

date.png30 Aug 2012 19:32 | comments.png 0 Comments | tags.png bakken n-america statoil upstream usa [ More ]
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