01222019Tue
Last updateTue, 22 Jan 2019 8pm

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Confidence High in Oil & Gas Industry, M&A Activity May Follow

According to a survey from KPMG, oil & gas (O&G) industry confidence is up and CEOs are setting their sights on growth opportunities, with 85% very confident or confident on industry growth, and 88% very confident or confident on company growth prospects.

As part of their growth strategies, 83% of O&G CEOs anticipate a moderate to high appetite for M&A activity over the next three years, largely driven by the need to reduce costs through synergies/economies of scale; a speedy transformation of business models; increased market share; and low interest rates. 


Bipartisan Water Infrastructure Bill Signed into Law

President Trump signed America’s Water Infrastructure Act of 2018 into law this week, the most sweeping infrastructure legislation to be considered this Congress. The law will accomplish a number of tasks including authorizing federal funding for water infrastructure projects, which leverages billions in water infrastructure spending. It will also assist local communities in complying with the Safe Drinking Water Act and Clean Water Act by upgrading aging drinking water, wastewater and irrigation systems. 

Atlantic Pipeline Receives State Approval

The Virginia Department of Environmental Quality approved the Atlantic Coast Pipeline’s erosion and sediment control plans and stormwater management plan. The agency’s approval allows the state’s water quality certification to take effect and is the final state approval needed to begin pipeline construction in Virginia.

The 600-mile underground Atlantic Coast Pipeline will originate in West Virginia, travel through Virginia with a lateral extending to Chesapeake, VA, and then continue south into eastern North Carolina, ending in Robeson County. 

JupiterMLP to Build Permian-to-Gulf Pipeline

JupiterMLP, LLC has secured a funding commitment to build the 1,000,000 barrel per day capacity Jupiter Pipeline from the Permian Basin to the Port of Brownsville, TX.

Expected to be operational in late third quarter of 2020 with origination points near Midland, Pecos and Crane, TX and offtake points near Three Rivers, Tx, Jupiter has completed engineering, design and right-of-way planning for the pipeline. As designed, it will be the only pipeline out of the Permian Basin that can access all three deep water ports in Texas (Houston, Corpus Christi and Brownsville) and will have direct access to a fully capable VLCC loading facility. 

Canada to Impose Protective Measures on Steel Imports

The Canadian government announced steps to prevent diversion of foreign steel products into Canada, and provide relief to steel and aluminum users in specific circumstances that are paying for countermeasures on certain products imported from the U.S. The measure is intended to offer a response that will support Canadian producers and manufacturers, while their government continues to work toward the complete repeal of all U.S. tariffs of Canadian steel and aluminum. 

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