Kinder Morgan Energy Partners LP's plans to build the $2 billion Freedom pipeline to support drilling in California have been axed.
The company made the cancellation announcement on May 31, after it failed to gain the necessary support for the project. Mark Kissel, Kinder Morgan's president of west region gas pipelines, cited a "lack of interest" in the project.
Railroads are becoming the primary transportation tool of choice for operators in California, including Valero Energy and Tesoro Corp., who cite flexibility as a key component.
West Coast News

CRC to Acquire Berry in All-Stock Combination, Building a Larger California-Focused Energy Leader
California Resources Corporation (CRC) and Berry Corporation announced a definitive agreement to combine in an all-stock transaction valuing Berry at approximately $717 million (inclusive of Berry net debt).…

Berry Reaffirms FY25 Guidance; Uinta Wells Drive 2H Growth
Berry Corporation delivered a steady second quarter update that reinforced the company’s core message for 2025: production is on plan, guidance is intact, and the hedge book is…

Kosmos Energy Ltd. First Quarter 2023 Results
Kosmos Energy Ltd. announced first quarter 2023 results. Highlights Net Production(2): ~58,800 barrels of oil equivalent per day (boepd), with sales of ~61,100 boepd Revenues: $394 million, or…

California Resources Corporation First Quarter 2023 Results
California Resources Corporation announced first quarter 2023 results. Highlights Named Manuela (Nelly) Molina as the new Executive Vice President and Chief Financial Officer, effective May 8, 2023 (see…

Berry Corporation First Quarter 2023 Results
Berry Corporation announced first quarter 2023 results. Highlights Reported Adjusted EBITDA(1) of $59 million Declared first quarter fixed dividends of $0.12 per share, double the quarterly rate from…
