- Inside Look at Processing Trends
- Regency Energy on Track for Investment Grade Metrics by End of 2011
- ONEOK Won’t Focus on Acquisitions for Growth
- New Doubts Raised on ‘Clean’ Shale Gas to Replace Coal
- Crosstex Anticipates Growth With Leaner, More Efficient Business Model
- Midstream News
- Murphy Oil Begins Operations at BC Processing Plant
- Norse Energy to Sell Select Midstream Assets for US$20.7 Million
- Kitimat LNG Partners to Purchase Pacific Trail Pipelines Interest
- Gastar Adds Acreage in Liquids-Rich Portion of Marcellus
- GPA Annual Convention Highlights New Role, Bright Future
- Fractionation Spread
- Propane, C5+ Margins Increase on Higher Prices
- Pipeline News
- GE Oil & Gas Selected for US$120-Million TENP Upgrade
- International News
- ConocoPhillips, Marathon Announce Nikiski LNG Plant Closing
Inside Look at Processing Trends
While 2010 was a year of change for Regency Energy Partners – the company’s general partner was acquired by Energy Transfer Equity and introduced a new leadership team guided by president and CEO Mike Bradley – the company’s overall goals of reaching investment grade status by the end of 2011 and increasing cash distributions remained the focal point of its activities.
ONEOK Partners is planning between US$1.8 billion and $2.1 billion in new growth projects based on the successful completion of its $2 billion capital program that ended in 2009. This program resulted in higher volumes of natural gas and natural gas liquids (NGL) moving through the system, resulting in more fees collected, greater earnings and has created additional opportunities, John Gibson, president and CEO of ONEOK Inc., said during a conference call to discuss fourth-quarter 2010 results.
U.S. Rep. Ed Markey (D-Massachusetts) on February 26 unveiled a letter to U.S. Environmental Protection Agency (EPA) demanding an investigation into radioactive materials in water produced by shale-gas “fracking.”
Barry Davis, president and CEO of Crosstex Energy, announced that the company had successfully achieved its goal of recapitalization, improving its balance sheet and restoring distributions and dividends in fiscal year 2010.
Murphy Oil Co. Ltd., a subsidiary of Murphy Oil Corp., began operations at the 180 million cubic feet per day (MMcf/d) Tupper West natural gas processing plant in Dawson Creek, British Columbia, Canada.
Norse Energy Corp. ASA announced that – through its subsidiary Norse Energy Holdings, Inc. – it has executed purchase and sale agreements to sell certain of its midstream assets to Appalachian Transportation and Marketing LLC for a total consideration of US$20.7 million.
Kitimat LNG partners Apache Canada Ltd. (Apache Canada) and EOG Resources Canada, Inc. (EOG Canada) have agreed to purchase the 50% interest in the Pacific Trail Pipelines Ltd. Partnership (PTPLP) they do not already own from Pacific Northern Gas Ltd. (PNG) for C$50 million (US$51.4 million).
Joint venture partners Gastar Exploration Ltd. and Atinum Marcellus I LLC have leased an additional 3,300 gross acres in Marshall County, West Virginia, a liquids-rich portion of the Marcellus.
The 90th Annual Gas Processors Association (GPA) Convention, which will be held in San Antonio, Texas, from April 3-6, is fast approaching. This year’s theme is “High Definition at 90: Advancing the Midstream Vision” and will focus on the association’s new role as a midstream association along with its bright and clear future.
The large gains posted for C5+ and propane prices coupled with the modest gains for natural gas feedstock prices at both Conway and Mont Belvieu resulted in sizable frac spread margin improvements for both NGLs (natural gas liquids) this week.
Although it hasn’t yet reached its full production potential, the Eagle Ford shale is already having a large economic impact on the surrounding regions as well as the State of Texas. In just three years, the play has grown to account for about 6% of the gross regional product (GRP) for the 24-county area it inhabits and added nearly US$1.3 billion to Texas’ gross state product (GSP), according to a recent study by the America’s Natural Gas Alliance (ANGA). The study was prepared for ANGA by the University of Texas at San Antonio Institute for Economic Development’s Center for Community and Business Research.
The continued price increases for crude oil caused a price spike in C5+ prices at both Mont Belvieu and Conway, although isobutane prices unexpectedly dropped at both hubs this week.
GE Oil & Gas has been awarded a contract of more than US$120 million (€90 million) to overhaul nine gas turbines located at four compression stations along the Trans Europa Naturgas Pipeline (TENP), which runs from the German-Netherlands border to the German-Swiss border.
ConocoPhillips and Marathon Oil Corp. plan to shut down the Nikiski liquefied natural gas (LNG) plant in Alaska after more than 40 years in operation due to deterioration in the LNG market.