Oil & Gas Storage & Transportation
Case studies in oil & gas storage & transportation.
Excelerate Energy: Payout While Building
On August 5, Excelerate Energy raised its full-year 2026 outlook for committed growth capital to $380–400 million. It separately forecast $85–95 million of maintenance capital expenditure. Read case
Kinder Morgan’s Conditional Capital: When Should Approval Become Commitment?
At 4:29 p.m. Eastern on July 22, Kinder Morgan, Inc. (KMI) had just released second-quarter results. Its 4:30 p.m. earnings webcast had not yet begun. The release reported that the board had given contingent approval to nearly $400 million of projects, which were not yet included in the company’s committed project backlog. Read case
ONEOK — Allocating Cash After a Transformative Deal
On 30 August, ONEOK announced a $4.425 billion cash acquisition of Brazos Midland and a $9 billion minority investment from Apollo. The transaction documents were filed the following day, after the market closed. Read case
Targa Resources: How fast should the next capacity tranche move?
On May 7, 2026, Targa Resources raised its full-year adjusted EBITDA outlook while leaving its expected growth-capital spending unchanged. The company reported record Permian inlet volumes, a 19% year-over-year increase in first-quarter adjusted EBITDA and several projects already announced or underway. Read case
Williams: What should a pipeline proposal have to prove?
Williams had built its strategy around natural-gas infrastructure: gathering gas from producing areas, processing it, and moving it through interstate pipelines to utilities, power generators, industrial users, and export-related markets. At year-end 2023, the company reported nearly 18 Bcf/d of gathering volumes and 32.3 Bcf/d of contracted transmission capacity. Read case