Domestic Oil and Gas News: Week of August 25th, 2025
1. Harvest Midstream Acquires MPLX Gas Assets
Harvest Midstream, led by Jeff Hildebrand, agreed to purchase approximately $1 billion worth of natural gas gathering and processing infrastructure from MPLX.
The assets include 1,500 miles of pipeline infrastructure serving Uinta and Green River shale regions across Utah, Colorado, and Wyoming.
This deal expands Harvest's footprint beyond Alaska and North Dakota, while MPLX focuses increasingly on the Permian Basin via its $3.5 billion in acquisitions, including Northwind Midstream.AOGR+15Reuters+15OilPrice.com+15
2. Oil Prices Climb Following Ukraine Attacks
Brent crude prices rose to $67.76/bbl and WTI to $63.73/bbl, after Ukrainian drone strikes hit major Russian energy facilities—including the Ust-Luga export terminal and Novoshakhtinsk refinery (~100,000 bpd capacity), which heightened supply fears.
Additionally, geopolitical signals from Russian leaders showing willingness to compromise in Ukraine, along with hopes for a U.S. rate cut, bolstered investor sentiment.Reuters
3. Eiger Express Gas Pipeline Breaks Ground
Construction will soon begin on the Eiger Express, a 450-mile natural gas pipeline from the Permian Basin to the Katy area near Houston.
The 42-inch pipeline, led by WhiteWater Midstream and affiliates of ONEOK and MPLX, will transport 2.5 billion cubic feet per day, easing regional gas bottlenecks.
Operational by mid‑2028, pending regulatory approvals.Natural Gas Intelligence+3Chron+3Reuters+3
4. Oil Futures Market Activity Slows
NYMEX Light Sweet Crude futures trading volumes dropped to 415,107 contracts (from 576,782), with open interest down by 23,030 contracts, signaling reduced speculative activity or traders closing positions.AP News+1