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.

[Read more…]

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…]