Access Midstream Partners

Access Midstream Partners | Chesapeake Energy | Energy Companies | Energy Services | Industrywide Issues | Pipelines

Access Midstream 1Q14: Throughput Up in Marcellus/Utica
May 2, 2014May 2, 2014

Access Midstream, formerly known as Chesapeake Midstream, released their first quarter 2014 update earlier this week. Access has operations around the country, not just the northeast. However, both the Marcellus and Utica Shale is an important part of the Access picture. Among the interesting things in this update: Throughput (the amount of gas flowing through Access pipelines) was up for both the Marcellus and Utica in 1Q14; and, Chesapeake, via their subsidiary Midcon Compression, sold 103 compressor stations to Access located along gathering systems in the Marcellus and Utica region for $160 million (see Chesapeake Fire Sale Continues: Marcellus/Utica Compressor Plants).

Below is an extract from the Access Midstream update–the part most relevant for the Marcellus and Utica:
Read More “Access Midstream 1Q14: Throughput Up in Marcellus/Utica”
Access Midstream Partners | Chesapeake Energy | Energy Companies | Energy Services | Industrywide Issues | Ohio | Pennsylvania | Pipelines | Statewide OH | Statewide PA | Statewide WV | West Virginia

Chesapeake Fire Sale Continues: Marcellus/Utica Compressor Plants
March 5, 2014March 5, 2014

Chesapeake Energy continues to sell off bits and pieces of the company, making corporate raider (and the company’s second largest investor) Carl Icahn happy. The latest ballast to go over the side are 103 “compression units” in the Marcellus/Utica region, purchased by Access Midstream (which used to be Chesapeake Midstream before it was tossed over the side too), and 334 “compression units” scattered throughout the south, southwest and west, sold to Exterran Partners. Total proceeds for Carl Icahn, er Chesapeake? $520 million.

Here’s the announcement from Chesapeake, followed by the announcement from Access Midstream about their “bolt-on” acquisition…
Read More “Chesapeake Fire Sale Continues: Marcellus/Utica Compressor Plants”
Access Midstream Partners | Chemung County | Economic Impact | Energy Services | Industrywide Issues | Jobs | New York | Pipelines | Processing Plants

MDN Plants a Big Fat Kiss on Access Midstream
February 28, 2014February 28, 2014

Because it’s Friday and we’re in a jovial mood, we’ve decided to award an “at-a-boy/girl” award today, to… Access Midstream. A few years ago Chesapeake Midstream was spun off into it’s own company and later renamed Access (see Chesapeake Midstream Changes Name to Access Midstream). Access has a serious presence in the Marcellus and Utica Shale region, among other shale basins across the country.

So why the recognition today? Because even though New York politicians like Gov. Andrew “can’t-make-a-decision” Cuomo have obstinately refused to allow shale drilling in the state, Access is building a new office building in Big Flats, NY, near Corning/Elmira. The location happens to be close to the PA border and of course Access will use the office as a regional HQ for its operations in northeastern PA. Access already has a presence in the Big Flats area and has had for several years. They’ve decided it’s time to build a new regional HQ and consolidate several locations into one. The point is, Access could just as easily have built their new building a few miles away in PA, which is what 99.9999999% of other industry-related companies have done (NY is the BIGGEST loser). However, Access decided to throw us NYers a bone and build their facility, employing 135 people, in our high tax, business-unfriendly and drilling hostile state. And so we say, thank you! And, are you crazy?!…
Read More “MDN Plants a Big Fat Kiss on Access Midstream”
Access Midstream Partners | Energy Services

Access Midstream Execs Tout the Marcellus/Utica on Analyst Call
February 20, 2014February 20, 2014

MDN told you yesterday that Access Midstream had a really good year in 2013, thanks in part to the Marcellus and Utica Shale (see Access Midstream Has a Good Year: Revenue Up 80% for 2013). The executive team for Access held a conference call with analysts yesterday and (no surprise) a lot of the talk revolved around the Marcellus and Utica. We thought it was interesting and thought you might too:
Read More “Access Midstream Execs Tout the Marcellus/Utica on Analyst Call”
Access Midstream Partners | Energy Services

Access Midstream Has a Good Year: Revenue Up 80% for 2013
February 19, 2014February 19, 2014

Access Midstream, a pipeline and processing plant company with operations in the Marcellus and Utica Shale, announced financial results for 2013 yesterday. Access had a very good year with revenue (EBITDA) up over 100% for the fourth quarter of 2013, and up over 80% for the entire year.

Here’s the top level numbers from the Access announcement yesterday:
Read More “Access Midstream Has a Good Year: Revenue Up 80% for 2013”
Access Midstream Partners | Cardinal Gas Services | Economic Impact | Energy Services | Industrywide Issues | Ohio | Pennsylvania | Pipelines | Processing Plants | Statewide OH | Statewide PA | Statewide WV | Utica East Ohio Midstream | West Virginia

Access Midstream Will Invest $3.8B in Marcellus/Utica by End 2015
October 31, 2013October 31, 2013

Access Midstream Partners is heavily involved with the pipeline/processing plant infrastructure buildout happening in both the Marcellus and Utica Shale region. Access is the lead company in the joint venture known as Cardinal Gas Services (the other partners being TOTAL and EnerVest), and an important partner in Utica East Ohio Buckeye (along with M3 Midstream and EnerVest). According to Access CEO Mike Stice on an investors call yesterday, his company’s total investment in the Marcellus Shale by the end of 2015 will be $1.8 billion, and the total investment in the Utica will be $2 billion.

A combined $3.8 billion investment in the northeast spanning 2012-2015–from one company. Simply astonishing! Here’s a few highlights from Stice’s talk yesterday…
Read More “Access Midstream Will Invest $3.8B in Marcellus/Utica by End 2015”
Access Midstream Partners | Energy Companies | Energy Services | EnerVest | Harrison County | Industrywide Issues | M3 Midstream | Ohio | Processing Plants | Utica East Ohio Midstream | Utica Shale

Gov. Kasich “Turns the Valves” at Scio Fractionation Plant
October 30, 2013October 30, 2013

MDN told you that Ohio Gov. John Kasich went foreigner-hunting on Monday and was glad to find no “foreigners” (i.e. out-of-state workers) lurking around the Hickory Bend processing plant in Mahoning County that he was visiting for a dedication ceremony (see OH Gov. Kasich Dedicates Hickory Bend Plant, No Foreigners Found). While he was in the general neighborhood, Gov. Kasich also slipped over to Harrison County on Monday to check out the Scio fractionation plant (now being called the Harrison Hub), to see if there were any foreigners hiding there. Nope! A banner day for Gov. Kasich!

The Scio plant, built by the Utica East Ohio Buckeye joint venture (M3 Midstream, Access Midstream and EnerVest) held a “turn the valves” dedication on Monday to take advantage of Kasich being in the area. Phase 2 of the plant went online in July adding an additional 45,000 barrels per day of NGL processing capacity. Phase 3 is now being build and due to go online in early 2014. Highlights from the Kasich visit and more details about the plant from UEO officials…
Read More “Gov. Kasich “Turns the Valves” at Scio Fractionation Plant”
Access Midstream Partners | Energy Companies | Energy Services | EV Energy Partners | Hilcorp Energy | Industrywide Issues | M3 Midstream | NGLs | NiSource | Pennant Midstream | Pipelines | Processing Plants | Utica East Ohio Midstream

NiSource & M3 Do a Deal to Process/Sell NGLs in Eastern Ohio
October 1, 2013October 1, 2013

An important announcement yesterday for drillers (and landowners) in the northern portion of the Ohio Utica Shale play: Pennant Midstream announced they are building a 38-mile natural gas liquids (NGL) pipeline from the Pennant-owned Hickory Bend cryogenic processing plant (in Mahoning County, OH) to the Utica East Ohio Midstream-owned Kensington cryogenic processing plant (in Columbiana County, OH). Pennant says initially they will ship 90,000 barrels per day through the new pipeline.

Why is Pennant with its own processing plant sending NGLs to another (competitor’s) processing plant? Good question…
Read More “NiSource & M3 Do a Deal to Process/Sell NGLs in Eastern Ohio”
Access Midstream Partners | Chief Oil & Gas | Electrical Generation | Energy Companies | Energy Services | Industrywide Issues | Pennsylvania | PVR Midstream | Statewide PA

Chief Strikes Deal to Provide Marcellus Gas for Electric Plants
August 29, 2013August 29, 2013

Chief Oil & Gas announced yesterday they have crafted a deal to supply some of the Marcellus Shale gas they produce in PA to IMG Midstream. You may think IMG is a pipeline company because of the word “midstream” in its name–but you would be wrong. IMG Midstream (formerly known as Iron Mountain Generation) develops, owns, and operates small-scale electric generation plants powered by natural gas. As part of the new deal, Chief will use pipelines from Access Midstream and PVR Midstream to get the gas from their wells to IMG’s new electric plants (to be built) in northeastern PA.

With that explanation to clear up who the players are, here’s the (somewhat confusing) press release announcing the deal…
Read More “Chief Strikes Deal to Provide Marcellus Gas for Electric Plants”
Access Midstream Partners | Energy Services

Access Midstream 2Q13: Marcellus Throughput Passes 2 Bcf/d Mark
July 31, 2013July 31, 2013

Access Midstream Partners (formerly the midstream division of Chesapeake Energy) released its financial and operating results for the second quarter of 2013. The report shows revenue was up a whopping 70.9% from 2Q12, with natural gas throughput on their pipelines increasing 27.9% from 2Q12. The Marcellus is credited with some of that increase.

Access says their gas throughput recently sailed past 2 billion cubic feet per day in the Marcellus…
Read More “Access Midstream 2Q13: Marcellus Throughput Passes 2 Bcf/d Mark”
Access Midstream Partners | Columbiana County | Energy Companies | Energy Services | EV Energy Partners | Industrywide Issues | M3 Midstream | NGLs | Ohio | Processing Plants | Statewide OH | Utica Shale

M3’s Kensington, OH NGL Plant Now Live & Processing
July 30, 2013July 30, 2013

A new $400 million natural gas liquids (NGL) processing plant in Kensington (near Hanoverton, OH) has went online Sunday. The Utica East Ohio Midstream (UEO) plant, a joint venture owned by M3 Midstream, Access Midstream (formerly Chesapeake Energy) and EV Energy Partners, was originally supposed to be online in May. That date slipped. In June, MDN picked up on a bit of news that indicated the plant would go live “by the end of July” (see M3 Midstream’s Kensington, OH NGL Plant Launch Date Slips). The July rumored date proved correct.

Yesterday, M3 issued the following press release announcing that the UEO plant is now operating and processing NGLs. It is the first plant of its kind to go online in the Utica Shale:
Read More “M3’s Kensington, OH NGL Plant Now Live & Processing”
Access Midstream Partners | Carroll County | Columbiana County | Energy Companies | Energy Services | EV Energy Partners | Harrison County | Industrywide Issues | M3 Midstream | Ohio | Processing Plants | Statewide OH

M3 to Build Heliports at OH Processing Plants “Just in Case”
July 3, 2013July 3, 2013

Utica East Ohio Midstream–a joint venture between M3 Midstream, Access Midstream and EV Energy Partners–is in the process of building three natural gas processing plants in eastern Ohio. Two of the plants–Leesville (in Carroll County) and Kensington (in Columbiana County) will be cryogenic plants used to separate natural gas liquids from methane. MDN recently told you about delays in building the Kensignton plant (see M3 Midstream’s Kensington, OH NGL Plant Launch Date Slips). The third facility, located in Scio (Harrison County), will be a fractionation plant used to further separate NGLs from Kensington and Leesville into their constituent compounds, like ethane, propane and butane. Both Kensington and Scio are scheduled to go online sometime “this summer” (see Scio fractionation plant scheduled to go online this summer).

This story, however, is not about schedules for the launch of Utica East Ohio’s plants. It is about M3’s plans to build heliports at the Kensington and Scio plants…
Read More “M3 to Build Heliports at OH Processing Plants “Just in Case””
Access Midstream Partners | Blue Racer Midstream | Commodity Price | Dominion Energy | Energy Services | Ethane | Industrywide Issues | Ohio | Pipelines | Processing Plants | Statewide OH

Live from Columbus, OH… Utica Shale Confab – Day 1
February 27, 2013February 27, 2013

MDN editor Jim Willis is in Columbus, Ohio attending the 2nd Utica Shale Development & Growth Forum. Jim is moderating a panel today (Wednesday) called “Utica from the Media’s Perspective.” On the panel with me are Bob Downing, staff writer with the Akron Beacon Journal, Rick Stouffer, editor of Platts Gas Business Briefing, and Peter Behr, reporter with EnergyWire. All top notch writers from premier publications. I feel honored to sit on a panel with them!

Yesterday (Tuesday) was the first day of the main program and speakers tackled the Utica Shale from their unique perspectives. We heard from the relatively new Access Midstream (formerly Chesapeake Midstream); a geologist; Blue Racer Midstream; and an economist who is head of the Ohio State University’s Sub Surface Energy Resource Center (“Utica Shale Center” for short). Since most MDN readers couldn’t be here, I took good notes to pass along. Below are highlights and interesting tidbits from Day One…

Read More “Live from Columbus, OH… Utica Shale Confab – Day 1”
Access Midstream Partners | Chesapeake Energy | Energy Companies | Energy Services | Industrywide Issues | Pipelines | Processing Plants | Williams

Access Midstream’s 2012 Numbers: Chesapeake Deal Nets 1 Bcf/d
February 20, 2013February 20, 2013

In December, MDN told you about a complex 3-way deal in which Chesapeake Energy sold off its remaining midstream subsidiary (pipelines, compressor stations and processing plants), including midstream assets in the Marcellus and Utica Shale, to Access Midstream Partners. Access immediately turned around and sold 50% of itself to Williams. In essence, Chesapeake sold its midstream assets to Williams using Access as an intermediary (see Chesapeake, Access & Williams in Complex 3-Way Midstream Deal). No doubt there are certain tax advantages to structuring the deal the way they did. The Chesapeake acquisition netted an additional 1 billion cubic feet of natural gas per day for Access.

Access issued its fourth quarter and full year 2012 report yesterday. They spent $735 million and made $478 million in revenue for 2012. Access predicts capital spending in 2013 will be $1.6-$1.7 billion and they expect to make around $850 million in revenue. They predict the revenue number will grow to over $1 billion by the end of 2014, more than doubling revenue from 2012 (in just two years).

Read More “Access Midstream’s 2012 Numbers: Chesapeake Deal Nets 1 Bcf/d”
Access Midstream Partners | Chesapeake Energy | Energy Companies | Energy Services | Industrywide Issues | NGLs | Pipelines | Processing Plants | Williams

Chesapeake, Access & Williams in Complex 3-Way Midstream Deal
December 12, 2012December 12, 2012

Chesapeake Energy has sold off its remaining midstream operations (pipelines, compressors and processing plants) to Access Midstream Partners for $2.16 billion. The sale includes Chesapeake’s midstream assets in the Marcellus and Utica Shale region, along with assets in the Eagle Ford, Haynesville and Niobrara shale plays.

At the same time (keep your eye on the bouncing ball here), midstream giant Williams paid $2.4 billion to buy a 50% stake in Access Midstream. That is, the two deals are connected—Chesapeake to Access, Access to Williams. On paper, Chesapeake sold its midstream properties to Access, but it practice it seems the sale was actually to Williams via Access Midstream. In addition, Williams announced that Chesapeake is “supporting” their effort to build a natural gas liquids (NGL) pipeline from the Marcellus/Utica area to the Gulf Coast.

Read More “Chesapeake, Access & Williams in Complex 3-Way Midstream Deal”
Access Midstream Partners | Energy Services

Access Midstream 3Q12: 65 New Marcellus Wells Connected
November 8, 2012November 7, 2012

Access Midstream Partners, a pipeline, compressor station and processing plant (infrastructure) company with operations in the Marcellus Shale released their third quarter financial and operational update on Monday. They report a 26.9% increase in the amount of natural gas moving through their pipelines for 3Q12 compared with 3Q11 mostly from their Marcellus operations which they acquired in December 2011. Access hooked up 186 new wells to their gathering system pipelines during 3Q12 across all of the plays they service (65 in the Marcellus alone), an increase of 27.4% over the same period in 2011. In addition, 3Q12 income was plus $2 million. What’s not to like about a good midstream company?!

Here are relevant sections from the Access Midstream 3Q12 update:

Read More “Access Midstream 3Q12: 65 New Marcellus Wells Connected”