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Industry Briefs

November 16, 2011
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US Infrastructure Holdings LLC (USI) is buying the Wildcat Sabine Gathering System in the Bossier-Haynesville Shale. The newly constructed 28-mile pipeline runs along the Texas-Louisiana border in the northwest corner of Sabine Parish, LA, and gathers and transports gas for producers including Eagle Oil & Gas Co., which has dedicated acreage from its North Toledo Bend Project. The system has takeaway capacity of 200 MMcf/d and includes treating and compression facilities. USI said it will begin construction of a 20-mile extension at the southern end of the Wildcat system to provide producers with direct access to markets served by Gulf South Pipeline Co. LP and Tennessee Gas Pipeline. The expansion will bring Wildcat's takeaway capacity to 400 MMcf/d and is expected to be complete by mid-2012.

American Standard Energy Corp. (ASEN) reported 3Q2011 revenue of $2.99 million, up from $160,000 in 3Q2010, with production of natural gas (137,985 Mcf in 3Q2011, compared with 6,777 Mcf in 3Q2010) and oil (28,998 bbl in 3Q2011, compared with 1,721 bbl in 3Q2010) up significantly as well. The rapid production growth was driven primarily by the Scottsdale, AZ-based company's "acquisition of a large number of Permian Basin wells, as well as the acquisition of North Dakota leaseholds under development," and the rapid development of existing leaseholds with exposure to the Bakken and Three Forks formations in the Williston Basin, ASEN said. Earlier this year the company acquired more than 10,000 acres in North Dakota's Bakken Shale play from Geronimo Holding Corp. for about $7,418,000 in cash and company stock (see Shale Daily, March 3). ASEN, a nonoperator oil and gas company involved with exploration and production, also owns holdings in Texas, Arkansas, Oklahoma and New Mexico.

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