Gas Processors Report

Spectra Energy Footprint to Continue to Change and Expand

Spectra Energy’s CFO Pat Reddy highlights the company’s asset base as enabling the company to continue to grow relatively inexpensively compared to the growth rate in the coming years. Speaking at this week’s Bank of America Merrill Lynch Investment Conference in San Francisco, Calif., Reddy said that the company’s asset base forms the company’s foundation for the future and would be impossible to duplicate today.

EPA Requests Disclosure of Hydraulic Fracturing Fluid Ingredients

The U.S. Environmental Protection Agency (EPA) issued voluntary information requests to nine natural gas service companies regarding the process known as hydraulic fracturing. The data requested is integral to a broad scientific study now underway by EPA, which Congress in 2009 directed the agency to conduct to determine whether hydraulic fracturing has an impact on drinking water and the public health of Americans living in the vicinity of hydraulic fracturing wells.

Your Time Is Up! Bakken, Barnett Likely to Give Up Expiring Acres

If you’re short on position in a popular unconventional resource play, the best opportunities to pick up expiring acreage during the next year will be in the Bakken and Barnett shales, according to DrillingInfo Senior Vice President of products and services Ramona Hovey.

Atlas Energy's Begley: We Can Hold Our Breath the Longest at US$4 Gas

Who can hold their breath the longest in any U.S. dry-gas play at US$4 per thousand cubic feet (Mcf) gas? Atlas Energy Inc. expects it will. Its F&D (finding and development) costs in the Marcellus play may fall to 20¢ per thousand cubic feet equivalent or less, net of the drilling carry within its joint venture with India’s Reliance Industries Ltd. that was signed in April. It expects year-end 2011 net Marcellus production of some 155 million cubic feet per day (MMcf/d), and some 500 MMcf/d by year-end 2014.

Cheniere Receives DOE Approval to Export LNG

The U.S. Department of Energy (DOE) approved Cheniere Energy Partners’ plan to convert its Sabine Pass liquefied natural gas (LNG) receiving and gasification terminal in Cameron Parish, Louisiana into a liquefaction terminal in order to export up to 16 million metric tons per year of LNG produced in the United States to foreign countries for a 30-year period.

Targa to Launch US$300M IPO

Targa Resources Investments Inc. plans to raise as much as US$300 million in an initial public offering, according to a September 9, 2010 SEC filing. Barclays Capital is underwriter. Shareholders Warburg Pincus and Merrill Lynch Ventures are also involved in the IPO. The number of shares and price per share were not disclosed.

Hess to Expand ND Processing Plant by US$500M

The North Dakota Public Service Commission granted Hess Corp. permission to expand its Tioga, ND natural gas processing plant’s capacity from 120 million cubic feet per day (MMcf/d) to 250 MMcf/d.

Frac Spread Margins Improve on Higher NGL Prices

Frac spread margins for natural gas liquids, improved in all but two cases this week as NGL prices outpaced improvements in natural gas feedstock prices. The exceptions to the rule were Conway iso-butane and Mont Belvieu ethane.

Approaching Winter Season Helps Drive NGL Prices Up

Natural gas liquid (NGL) prices improved for the third straight week as NGL prices continue to more closely approach crude prices and the winter heating season gets closer.

Williams Acquires 49% Interest in Overland Pass Pipeline

ONEOK Partners LP sold a 49% interest in Overland Pass Pipeline Company LLC to Williams Partners LP for US$424 million, making ONEOK and Williams 50/50 partners in the company. Previously, ONEOK owned 99% of the company with the remaining 1% being held by Williams.

Natural Gas Pipeline Leak Causes Fire in San Bruno, Calif.

A gas transmission line, confirmed by local utility company Pacific Gas and Electric to have ruptured, caused a massive fire in a suburb of San Bruno, Calif., on September 9, killing four people and destroying 50 homes. In addition, there are still four people still reported as missing.

World Energy Congress Montréal 2010: Meeting the Challenges

September 13’s keynote speakers highlight industry opportunities for technological advancement and greater energy efficiency.