PLUGGING IN
Crews to begin diesel spill cleanup
DES MOINES, IOWA — Workers were expected to complete cleaning up Thursday about 140,000 gallons of diesel fuel that spewed from a broken pipeline onto an Iowa farm, the largest U.S. diesel spill since 2010, federal authorities said.
Vacuum trucks were sucking up the fuel that spilled onto an acre of grass and tilled farmland after the pipeline broke. The pipeline, owned by Tulsa-based Magellan Midstream Partners, was discovered spewing diesel fuel Wednesday morning.
About 18 percent of the liquid had been removed, and no fuel entered rivers or streams, said Iowa Department of Natural Resources spokesman Jeff Vansteenburg early on Thursday. No farm field drain lines have been severed so fuel can’t flow into waterways, he said.
No injuries were reported and no evacuations were needed. Magellan spokesman Bruce Heine said the cause of the leak is under investigation.
“Although we expect to begin pipeline repairs later today, we do not have an estimate when pipeline operations will resume on the affected segment of our system,” Heine said on Thursday. “We do not expect this incident to disrupt supply of gasoline, diesel and other refined petroleum products in the region.”
BridgeTex expands Permian pipeline
TULSA — BridgeTex Pipeline Co. LLC is expanding its BridgeTex pipeline’s capacity from the west Texas Permian Basin to 400,000 barrels per day, up from 300,000 barrels per day. The expanded capacity is expected available in the second quarter, following enhancements to the existing pumps and related equipment.
The 20-inch BridgeTex pipeline system transports Permian Basin crude oil from Colorado City, Texas, to the Houston Gulf Coast area. Beginning early in the second quarter, a newly-constructed origin point at Bryan, Texas will begin operations to accept shipments from the Eaglebine region for delivery to Houston.
BridgeTexas Pipeline Co. is a joint venture of Tulsa-based Magellan Midstream Partners LP and Houston-based Plains All American Pipeline LP.
Helmerich & Payne reports net loss
TULSA — Helmerich & Payne Inc. on Thursday reported a first-quarter net loss of $35 million or 33 cents a share, compared to a profit of $16 million, or 15 cents a share, in the year-ago quarter.
Operating revenues slipped to $369 million, down from $488 million one year ago.
“The outlook has been improving in the U.S. land drilling market, resulting in a significant increase in the company’s activity levels and market share over the last few months,” CEO John Lindsay said. “The downturn has been a challenging two-year journey, and H&P has been preparing for the opportunity this upturn presents.”
Dividends
SandRidge Permian Trust
SandRidge Permian Trust has announced a quarterly distribution of 12 cents per unit payable Feb. 24 to holders as of Feb. 10.
SandRidge Mississippian Trust I
SandRidge Mississippian Trust I directors have declared a quarterly distribution of 5.44 cents per unit payable Feb. 24 to holders as of Feb. 10.
SandRidge Mississippian Trust II
SandRidge Mississippian Trust II has announced a quarterly distribution of 6.2 cents per unit payable Feb. 24 to holders as of Feb. 10.
Williams Partners LP
TULSA — Williams Partners LP has announced a regular quarterly cash distribution of 85 cents per common unit, payable Feb. 10 to holders as of Feb. 3.
Magellan Midstream Partners LP
TULSA — The directors of Magellan Midstream Partners LP have increased the partnership’s quarterly cash distribution to 85.5 cents per unit, up from 78.5 cents in the previous quarter.
The payout is expected Feb. 14 to holders as of Feb. 3.