RBN Energy Blogcast

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Can’t Buy Me Love — E&Ps Favor Shareholders as Balance Sheets Strengthen

2026-09-1615:57

After years of relentless balance-sheet repair, the upstream oil and gas industry may be reaching an important turning point in its capital-allocation strategy. Today, we review Q2 2026 cash allocation and analyze a trend that is far from uniform, revealing sharply different priorities among E&Ps.

Pink Pony Club – Enbridge Saddles Up for Expanded Crude Service With Pony Express Acquisition

2026-09-1511:47

Enbridge is buying Tallgrass Energy's crude oil transportation business for $2.55 billion. The deal includes a 75% stake in the 1,050-mile Pony Express Pipeline system, which connects oil production in the Rockies to Cushing and provides access to about 500 Mb/d of refining capacity.

Basket Case – With U.S. Refiners Already Running Hard, Relief on Diesel Remains Elusive

2026-09-1415:16

Today, we look at why high crack spreads don’t necessarily increase a refinery’s output, how market disruptions elsewhere can drain U.S. inventories, and the indicators that will help tell us whether the diesel squeeze is easing (or worsening).

Double Shot – Summit’s Double E Expansion

2026-09-1109:51

Summit Midstream is moving full speed ahead with its 900-MMcf/d expansion of the Double E Pipeline after it secured about 550 MMCf/d of long-term commitments to move natural gas from the Permian Basin’s Delaware Basin toward the Waha Hub.

Slow Your Roll – Higher Cash Flows, Sunnier Outlook Not Yet Reflected in Expanded E&P Investment

2026-09-1013:20

Industry executive surveys in Q2 2026 and observations by oil service firms all reflect an optimism that suggests producers are warming to increasing activity to boost oil and gas output. The key question is whether that has translated into higher investment.

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