Daily on Energy: A potential pipeline merger, oil ticks up, and an Independence Day heatwave

Daily on Energy tracks several U.S. energy developments, including reported interest in a major natural gas pipeline acquisition and shifting petroleum reserve levels. The newsletter says Oklahoma-based Williams Cos. is reportedly in talks to buy Momentum Midstream in a deal estimated at $5.5 billion, potentially announced in the next few weeks, according to Bloomberg. Williams, which operates more than 30,000 miles of pipeline, would add Momentum’s roughly 4,000 miles across the Haynesville Shale in East Texas and northern Louisiana. The potential transaction comes as U.S. liquefied natural gas exports are forecast to keep rising through 2027, with the Energy Information Administration projecting net gas exports to increase 18% this year and another 10% in 2027. Separately, the Strategic Petroleum Reserve fell further to 325.7 million barrels, its lowest since April 1983, after a weekly draw of 5.5 million barrels.