Last updated: | Reading Time: 1 minutes

Exxon to buy stake in Enterprise’s new Permian NGL pipeline

ExxonMobil will buy a 40% stake in the new Bahia NGL pipeline from Enterprise Products Partners to boost Permian gas takeaway capacity.

Oil and gas supermajor ExxonMobil will buy a 40% stake in the new Bahia natural gas liquids (NGL) pipeline from Enterprise Products Partners as producers and pipeline operators expand gas takeaway capacity in the Permian basin.

Enterprise Products Partners on Thursday said it had entered into an agreement with ExxonMobil, which will acquire a 40% undivided joint interest in Enterprise’s Bahia NGL pipeline that is currently being commissioned.

The closing of the transaction is subject to regulatory approvals and is expected by early 2026, Enterprise said.

Click here to read the full article
Source: Oil Price

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

You might also like
EU may pool demand to boost US LNG buys, aiming to meet $250B annual energy purchase pledge, says European Commission.EU considers pooling demand from companies to buy more US gas
The EIA estimated that US crude oil production reached “an all-time high in December of more than 13.3 million barrels per day.Record oil and gas production makes America more secure
Leasing oil and gas rights is a complex process that involves various legal, environmental, and economic considerations.Leasing oil and gas in California: State-specific considerations
Discover how Overriding Royalty Interests can provide passive income in oil & gas. Learn benefits & risks for savvy investors. Dive in now!The role of overriding royalty interests in passive income
In 2023, upstream oil and gas saw significant increases in hiring with the job count growing by 15,300 jobs for the year.Oil & gas jobs in Texas continued strong growth to close out 2023
Explore how offshore drilling impacts royalty payments, including factors like oil prices, production rates, and government revenue for landowners and investors.Offshore drilling and royalty payments – Exploring the connection
Chevron's $53 billion acquisition of Hess Corporation expands its assets in Guyana and the U.S. Bakken shale.American Oil Giants Boost Domestic Footprint as Geopolitical Tensions Mount
Explore how combining renewables with oil and gas leases boosts land use, diversifies income, and supports a sustainable energy future.Hybrid Models: Combining Renewable Energy with Oil and Gas Leases
Saudi Aramco to sign US LNG agreements during crown prince’s visit to Washington,...Saudi Aramco wants to become a major liquefied natural gas player, especially in the US as its LNG capacity nearly doubles.