A pipeline to flow oil from Hess Corp.’s deepwater Stampede development in the US Gulf of Mexico will be built, owned and operated by Enbridge Inc.
The line will connect the field to an existing third-party pipeline system, with the new line expected to cost approximately US $130 million and be operational in 2018. Stampede was sanctioned by Hess and its partners late last year (see DI, 24 November 2014, page 7).
Enbridge says the pipeline will be approximately 16 miles long, with a diameter of 18 inches, starting in Green Canyon Block 468 in a water depth of approximately 1,067 m (3,500 ft).
“The Stampede lateral is consistent with Enbridge’s low risk business model and furthers our objective to capture new deepwater Gulf of Mexico crude oil plays,” said Greg Harper, president, gas pipelines & processing at Enbridge.
Enbridge’s offshore pipelines transport approximately 40% of the gas produced in the deepwater GoM and 45% of ultra-deep gas production.
Recommended Reading
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
2024-03-27 - ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
EQT Ups Stake in Appalachia Gas Gathering Assets for $205MM
2024-02-14 - EQT Corp. inked upstream and midstream M&A in the fourth quarter—and the Appalachia gas giant is looking to ink more deals this year.
EQT Deal to ‘Vertically Integrate’ Equitrans Faces Steep Challenges
2024-03-11 - EQT Corp. plans to acquire Equitrans Midstream with $5.5 billion equity, but will assume debt of $7.6 billion or more in the process, while likely facing intense regulatory scrutiny.
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.
OEP Completes Acquisition of TechnipFMC’s Measurement Solutions Business
2024-03-27 - One Equity Partners said TechnipFMC’s measurement solutions business will be rebranded as Guidant and specialize in measurement technology, automation solutions and global systems.