
Pipeline operator ONEOK greenlights new Delaware Basin gas plant
The Big Horn plant will have a capacity to process 300 million cubic feet per day of natural gas and treat high-carbon dioxide gas, the company said on its post-earnings call.
The facility and associated treater are expected to cost about $365 million and begin service in mid-2027.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
26 minutes ago
- Reuters
Trump met Citi, BofA CEOs to discuss plans for Fannie and Freddie, sources say
NEW YORK, Aug 6 (Reuters) - U.S. President Donald Trump met the CEOs of Citigroup (C.N), opens new tab and Bank of America (BAC.N), opens new tab on Wednesday to discuss the administration's plans to privatize U.S. mortgage financing companies Fannie Mae and Freddie Mac, according to two sources familiar with the situation. Citi CEO Jane Fraser met with Trump at the White House, said one of the sources, who declined to be identified discussing a private meeting. Trump also met BofA CEO Brian Moynihan and his team, a second source said. The White House declined to comment on private meetings. The Trump administration plans to take both firms public and is asking for pitches from the largest banks. The president plans to privatize the mortgage companies, potentially with a large share offering. But in social media posts in May, Trump said he intends to keep government mortgage guarantees and oversight. The meetings follow those held in late July with other bank leaders, including Goldman Sachs (GS.N), opens new tab CEO David Solomon, the second source said. Fannie Mae and Freddie Mac have been under federal conservatorship since 2008 following the financial crisis, during which both entities became insolvent amid the subprime mortgage meltdown. Since then, the companies have rebuilt capital reserves, repaid their Treasury loans and returned to consistent profitability. Shares of both firms, currently traded on over-the-counter markets, have surged amid speculation over privatization plans. The pair guarantee over half of the nation's mortgages. Taking the firms public would end a far-reaching government backstop that was intended to be a temporary reprieve, but could also make mortgages pricier and harder to obtain if the entities guaranteeing fully return to the private sector. Analysts noted that while Trump has been willing to risk economic turmoil in his wide-ranging tariff agenda, there may be more sensitivity to drama in mortgage rates, which are highly visible and familiar to many consumers. "Tariffs may have impacted the stock market, but they did not result in immediate price hikes at Walmart or Dollar General," wrote TD Cowen analyst Jaret Seiberg in a May note. "By contrast, the price of mortgages will respond to each recap and release development. That makes the political cost more immediate. It is why we expect a slower and more deliberative process."


Reuters
26 minutes ago
- Reuters
Beyond Meat misses quarterly revenue estimates as plant-based demand weakens
Aug 6 (Reuters) - Beyond Meat (BYND.O), opens new tab missed Wall Street estimates for second-quarter revenue on Wednesday, hurt by weak demand for its plant-based meat products in the U.S. amid ongoing macroeconomic uncertainty. Shares of the company, which also announced a 6% reduction in its global workforce, fell about 4% after the bell. U.S. consumer demand for plant-based meat continued to decline this quarter amid skepticism over taste, processing and price. Macroeconomic uncertainty has pressured consumer spending in the U.S., prompting many to opt for cheaper animal protein. "Consumers' growing concerns about processed foods are severely diminishing the appeal of Beyond Meat's product line, causing retailers and quick service restaurants to pull back sharply on orders," Rachel Wolff, analyst at Emarketer, said. Retail sales of refrigerated plant-based meat alternative products in the U.S. have fallen 17.2% so far this year, and frozen plant-based meat alternatives have fallen 8.1%, according to data from SPINS. The El Segundo-based company said it will lay off 44 North American employees to cut costs, incurring a one-time charge of $0.8–$1.3 million. Revenue for the quarter ended June 28 fell nearly 20% to $75 million, compared with analysts' average estimate of $82 million, according to data compiled by LSEG. It also reported a loss per share of 43 cents, compared with estimates of a 37-cent loss. The company withdrew its annual sales target, citing macroeconomic volatility, earlier in May.


Reuters
28 minutes ago
- Reuters
Top potash producer Nutrien beats second-quarter profit estimates
Aug 6 (Reuters) - Nutrien ( opens new tab beat Wall Street estimates for second-quarter profit on Wednesday, as the world's top potash producer benefited from improved demand in North America amid a robust corn planting season. U.S. farmers expanded corn plantings by 5% this year to the highest since 2013 while cutting soybean acres by 4% to a five-year low, the U.S. Department of Agriculture said in June. The agency expects U.S. farmers will seed 95.203 million acres (38.527 million hectares) of corn this year, up from 90.594 million last year. Potash sales jumped 31% to $991 million in the three months ended June 30, the company said. Total sales rose to $10.44 billion, from $10.16 billion a year. The Saskatoon, Canada-based firm posted an adjusted profit of $2.65 per share, compared with analysts' average estimate of $2.40, according to data compiled by LSEG.