Construction of the Stonewall Metering and Regulating Station in Loudoun County, VA, is complete, according to Dominion Transmission Inc. (DTI). The Federal Energy Regulatory Commission authorized placing the station into service by Friday (Dec. 2) [CP15-492]. DTI requested a partial notice to proceed for the Leidy South Project to construct the Stonewall M&R station in October. Leidy South would serve new and existing power generation facilities with natural gas traveling from the Leidy Interconnect in Clinton, PA, to points in Loudoun County. Panda Stonewall LLC, Virginia Power Services Energy Corp. Inc. and Mattawoman Energy LLC have signed binding agreements for all of the project capacity. The estimated cost is $209.66 million. DTI filed its application for the project with the Commission in 2015, received a favorable environmental assessment from staff in March and approval in late August.
Denver-Julesburg Basin pure-play PetroShare Corp. has agreed to pay $5 million for 11,169 net acres in its core operating area of Colorado's Adams and Weld counties in the Wattenberg field. The purchase, set to close by the end of December with an undisclosed party, includes producing vertical wells and associated leases. Partner and lender Providence Energy Operators LLC agreed to purchase half of the wells and leases, with PetroShare as operator. Once the acquisition is completed, PetroShare would have more than 8,164 net acres across its area of interest, including 3,874 net acres in the Niobrara/Codell. The acquisition would add 31 boe/d net from 32 producing wells.
GE Oil & Gas is making a $25 million preferred equity investment in liquefied natural gas (LNG) export terminal developer Tellurian Investments Inc. Tellurian's first project is Driftwood LNG, which is to be sited on the west bank of the Calcasieu River south of Lake Charles in Calcasieu Parish, LA. "This investment represents another step forward in the development of Driftwood LNG, where we are working together with GE to design the lowest-cost liquefaction for the global market," said Tellurian CEO Meg Gentle. Driftwood LNG is in the engineering design and pre-filing phase. The Federal Energy Regulatory Commission approved Driftwood LNG's pre-filing request last June. Tellurian expects construction to begin in 2018 and the project to become operational in 2022. Tellurian entered into a merger agreement with Magellan Petroleum Corp. on Aug. 2 and said it expects the agreement to close by the end of the year.
Dallas-based Endurance Resources Holdings LLC, a portfolio company of Lime Rock Partners, has agreed to sell for an undisclosed sum most of its assets, primarily in the Permian Basin's Delaware formation, to two unnamed buyers. The transactions are expected to be completed by the end of the year. The agreements allow Endurance and Lime Rock "to realize value created in the acquisition and development of Endurance's assets," which primarily are in New Mexico's Lea and Eddy counties and in Reeves County, TX. "The buyers of both assets own complementary assets to the ones we have agreed to sell," Endurance CEO Don Ritter said.