Worthington Industries Acquires Tank Storage Division of Steffes Corporation in North Dakota

Steffes Corporation Generated 25 Million in Revenue in 2013
Bakken Oilfield StorageTanks

Bakken Oilfield Storage Tanks | Click to Enlarge

Worthington Industries expands its reach in the Bakken, purchasing the tank storage manufacturing division of Steffes Corporation for an undisclosed amount in late March 2014. Steffes Corporation manufactures oilfield and salt water storage tanks for clients in the Bakken Shale and Williston Basin, and generated $25-million in revenue in 2013. Worthington will acquire Steffes Corporation’s Dickinson, N.D. plant in the deal, which currently employs 35 people.

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Koch Cancels Proposed Bakken Pipeline – Dakota Express Pipeline

Without Adequate Pipeline Infrastructure, Rail is Here to Stay
Bakken Pipeline Map

Bakken Pipeline Map | Click to Enlarge

The “Dakota Express Pipeline”, proposed in June 2013 by Koch Pipeline, will not be built according to a Bloomberg report. The project included a 250,000 b/d pipeline to transport oil out of the Bakken in Western North Dakota to receipt points in Illinois.

Read more: Koch Plans Open Season for Bakken Crude Pipeline to Illinois [Read more...]

Enable Midstream Is Planning an IPO – Bakken Gathering Assets Included

The Bakken System's Capacity of 19,500 b/d Is Fully Contracted Through 2028
Enable Midstream's Gathering and Processing Assets

Enable Midstream’s Gathering and Processing Asset Map | Click to Enlarge

Enable Midstream (ENBL) has filed for an initial public offering and expects to raise net proceeds of $500 million to be used in expansion projects. The company will trade as a master limited partnership (MLP).

The deal includes Bakken gathering assets that were contributed by CenterPoint Energy.

The gathering system commenced operations in November 2013 and is expected to be in full operation in the third quarter of 2014. Enable Midstream estimates it could spend as much as $110 million on the Bakken system.

Read more: CenterPoint – XTO Sign Long-Term Bakken Gathering Agreement [Read more...]

Oneok Investing More In Bakken Midstream Infrastructure

Company's North Dakota Processing Capacity To Grow To ~800 mmcfd
Oneok North Dakota Bakken Asset Map

Oneok North Dakota Bakken Asset Map | Click to Enlarge

Oneok is planning another $650-780 million in infrastructure investments in the Bakken.

The company will expand its Bakken NGL Pipeline, expand gathering & compression in the area, and build a seventh NGL processing plant in McKenzie County, ND.

Oneok will spend $100 million to expand the Bakken NGL pipeline that came online in April of 2013. The pipeline was originally planned with capacity of 60,000 b/d and is currently being expanded to 135,000 b/d. This will mark the second expansion and grow capacity to 160,000 b/d. [Read more...]

Crestwood Midstream Acquires Arrow Midstream for $750 Million – Expanding Bakken Footprint

The Deal Follows the Acquisition of Inergy Midstream

Crestwood Midstream is acquiring Arrow Midstream for $750 million. The deal will make Crestwood Midstream one of the largest Bakken midstream companies.

The deal builds on the recent acquisition of Inergy Midstream that closed on Monday, October 7th. [Read more...]

Bakken Oil & Gas Might Follow Allete’s Transmission Line Right-of-Way

Energy Corridor Will Connect Western North Dakota to Duluth Minnesota
Allete Bakken Right of Way

Allete Bakken Right of Way | Click to Enlarge

Allete announced plans to turn a 465-mile DC transmission line right-of-way into a shared right-of-way that could be used for pipelines.

Pipelines moving oil, natural gas, petroleum products, water, or carbon were mentioned as possibilities. [Read more...]

Magnum Hunter Resources Provides Second Quarter Bakken Update

Wet Weather Delays Oneok Gas Gathering System
Magnum Hunter Bakken Shale Map

Magnum Hunter Resources Bakken Shale Map | Click to Enlarge

Mangnum Hunter Resources participated in bringing on 19 gross (5.5 net) Bakken wells in the second quarter of 2013. At the end of the quarter 20.4 gross (11.4 net) wells were in some stage of drilling or being completed.

Magnum Hunter also noted midstream delays brought on by wet weather. A Oneok gathering system expected to be online in April did not accept gas until the last week of June. The gas gathering system is being built in an effort to conserve natural gas production in the area. In total, the project will connect ~300 wells in the area over the next year. [Read more...]

Bakken Ethane Pipeline Gets State Department Approval

Vantage Pipeline Will Run 430 Miles To Alberta Canada
Vantage Ethane Pipeline Map

Vantage Pipeline Map | Click to Enlarge

A pipeline that will move ethane from a Hess processing plant in Tioga, North Dakota, to Canada has been approved by the U.S. State Department.

The Vantage Pipeline will stretch 430 miles from Tioga, North Dakota, to Alberta, Canada, where it will deliver ethane to petrochemical plants. Approximately 80 miles of the pipeline will be located in North Dakota.

The pipeline will take several hundred thousand man hours and more than $300 million to build. Capacity is expected to be 40,000-60,000 b/d. [Read more...]

Summit Midstream Expanding Bakken System In Williams & Divide

Spending $60 Million To Add 45,000 b/d Of Bakken Oil Gathering Capacity

Summit Midstream plans to spend $60 million to expand its Divide crude oil and water gathering system in Williams and Divide counties.

The system includes 90 miles of crude oil gathering pipe already and an additional 145 miles of pipe is being added. The expansion will be able to handled 45,000 b/d of crude oil and 45,000 b/d of water. [Read more...]

Koch Plans Open Season For Bakken Crude Pipeline To Illinois

Dakota Express Pipeline Will Have Capacity of 250,000 b/d

Koch Pipeline is conducting phase I of an open season for Dakota Express Pipeline (250,000 b/d) starting July 1, 2013. The open season will last 45 days and is non-binding.

The proposed pipeline will move crude from western North Dakota to receipt points in Illinois. A portion of the pipeline will be new build and a portion will include reversing Koch’s Wood River Pipeline. The Wood River Pipeline moves crude from Hartford, Illinois, to Saint Paul, Minnesota, currently. [Read more...]

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