MarkWest marks more territory in Marcellus, Utica & Texas

Quantum Energy Partners made an equity commitment alongside management in a funding round worth over $400 million for new midstream company Ryno Energy Partners, LLC, the companies announced April 24. Tyler, Texas-based Ryno will focus on large-scale development, acquisition and joint ventures with US E&P and midstream companies. Capital commitments could increase to support strategic joint ventures with customers, the companies said. Ryno, with additional offices in Denver, Houston,...

Private equity firm Quantum Energy Partners will back startup Ryno Energy Partners, which is led by a management team experienced in the design, construction and operation of gas and NGL transportation and facilities. Quantum and members of the Ryno management team have collectively made initial capital commitments of more than $400 million. The startup will focus on large-scale development, acquisition and JV opportunities with E&P and midstream companies across the US. Ryno...

WhiteWater Midstream, which operates a gas pipeline in the Delaware Basin, is exploring a $2 billion sale, including debt, according to media reports. WWM was founded in 2016 and is backed by a $200 million commitment from private equity firms Denham Capital Management and Ridgemont Equity Partners. Unnamed sources cited in a Reuters report did not disclose a possible buyer and cautioned a transaction might not happen. WWM’s key asset is the 160-mile Aqua Blanca pipeline, which can...

MPLX LP issued $2.25 billion in unsecured senior notes in an underwritten public offering to redeem $750 million in other senior notes and repay the $725 million owed under its revolving credit facility. The 2023 notes being redeemed include $40 million from MarkWest Energy Partners, which MPLX acquired in 2015 in an $18.8 billion deal. The issue consists of $750 million of 4.80% senior notes due in 2029 and $1.5 billion of 5.50% senior notes due in 2049. The 2029 senior notes were...

MPLX LP launched a dual-tranche offering of $2.25 billion aggregate principal amount of notes on Nov. 7 that closes Nov. 15 through a syndicate led by JP Morgan, RBC and Wells Fargo. The partnership offered $750 million principal amount of 4.8% senior notes due 2029 and $1.5 billion principal amount of 5.5% senior unsubordinated unsecured notes due 2049. Part of the proceeds will redeem $750 million in 5.5% senior notes that are due in 2023 and include about $40 million...

The Williams Companies board appointed Newmont Mining CFO Nancy Buese as an independent director starting immediately. Buese has served as CFO for MPLX and MarkWest Energy Partners. She fills the vacancy on the board created by the retirement of Janice Stoney. Rick Turner resigned from the board of LE GP, the general partner of Energy Transfer Equity, on June 1, effective immediately. Steven R. Anderson was appointed to the board on June 4. Steelhead LNG appointed...

CNX Midstream added 16,100 dedicated Utica acres from a strategic transaction between sponsor CNX Resources and West Virginia-based E&P HG Energy. The deal also will bring 52 minimum well commitments within five years, allowing CNXM to extend 15% distribution growth target to 2023 from 2022. The company formerly known as CONE Midstream also will receive $2.0 million and a 20-in. high-pressure pipeline to MPLX subsidiary MarkWest Energy Partners’ Majorsville processing facility. In...

Darrell Hollek resigned from Western Gas Holdings, LLC board of directors effective Dec. 31, 2017. His resignation is in connection with his retirement from Anadarko, where he has worked since 1980. Tyler, TX-based KP Engineering hired James Fitzgerald, an expert in midstream process engineering, to be its SVP of process technology. Most recently director of process engineering at MarkWest Energy Partners, Fitzgerald will be based in KPE’s Tulsa office. Global Partners promoted...

Joe Kim will become CEO of Dallas-based Sunoco LP, effective Jan 1. Kim has been serving as president and COO since June after current CEO Bob Owens announced he would retire on Dec. 31. Owens will continue to serve as a consultant to through 2019. Kim has been EVP and chief development officer for Sunoco from October 2015 to this June, was formerly COO at Pizza Hut and worked at Valero Energy for 15 years. Transcanada appointed a new independent director, Thierry Vandal. He has more...

John B. Frank was elected to Chevron’s board of directors effective Nov. 2 and will serve on the audit committee. Frank, who fills the vacancy left by the resignation of Jon Huntsman on Sept. 28, is vice-chairman of Oaktree Capital Management and was previously a partner with the law firm of Munger, Tolles & Olson LLP. Delek US Holdings, Inc. and Delek Logistics Partners LP announced that Melissa Buhrig joined the companies as EVP, general counsel and secretary. She was most...

EQT Corp. named Jeremiah Ashcroft as SVP and president, midstream of EQT. Ashcroft was also appointed SVP and COO for EQT Midstream Partners and will join the EQM board of directors. His most recent position was CEO of Gulf Oil LP, a distributor of fuel products and lubricants. Ashcroft replaces Lisa Hyland, who has been with EQT since 2000 and whose intent to retire was announced in March. Hyland will remain SVP, special projects for EQT through March 2018.MPLX EVP and General Counsel...

Dave Duckett has retired as CEO of Plains Midstream Canada (PMC), a wholly owned subsidiary of Plains All American Pipeline. Duckett joined PAA in 2001 as EVP of PMC, was president from 2003-2015 and become CEO in 2015. Jason Balasch was promoted to president. Balasch most recently was EVP of NGL commercial and facilities. Phil Kramer has also retired as EVP. Other retirements were Jim Fryfogle as VP, bulk supply and logistics; Rick Jensen as PMC EVP, operations; and David Craig as PMC SVP,...

Antero Midstream Partners and MarkWest Energy Partners have formed a joint venture to build out processing facilities in Doddridge County, West Virginia, that will support development of Antero Resources’ Marcellus gas. The 50:50 JV allows Antero Midstream to diversify its portfolio and gives MarkWest access to Antero Midstream’s West Virginia acreage.Antero Midstream will release its 195,000 gross-acre processing dedication from parent Antero to MarkWest, increasing the latter’s...

Antero Midstream Partners has priced a public offering of 6.0 million common units at $33.00 per unit for gross proceeds of $198 million. The underwriters will have a 30-day greenshoe for another 900,000 common units. The company plans to use the proceeds for general purposes including paying down its revolving credit facility, which it used to fund the new JV with MarkWest Energy Partners. Barclays and Wells Fargo Securities are acting as...

Summit Midstream Partners is extending its binding open season on the Double E gas pipeline from the northern Delaware basin to the Waha Hub by two weeks to Sept. 28. The extension is to accommodate the needs of certain prospective shippers. The pipeline will have various receipt points in Eddy and Lea counties in New Mexico and Loving, Ward, Reeves and Pecos counties in Texas. ExxonMobil subsidiary XTO Energy earlier said it would send up to 500 MMcf/d on the Double E in a 10-year take-or-pay...