Archive / Author

Subscribe

Koch Unit Taking Texas Propylene Producer Private in $2.1B Deal

Koch Industries Inc. unit Flint Hills Resources LLC is taking major propylene producer PetroLogistics LP and its general partner (PetroLogistics GP LLC) private in an all-cash deal worth about $2.1 billion.

May 28, 2014
Dominion Weighing Marcellus-to-North Carolina Pipeline

Dominion Weighing Marcellus-to-North Carolina Pipeline

Dominion Resources Inc. has recently begun talking about a preliminary idea to pipe Marcellus/Utica shale gas from West Virginia, through Virginia to southern North Carolina via a pipeline that would be called the Dominion Southeast Reliability Project.

May 28, 2014

Sundance Adds to Eagle Ford Acreage as It Exits DJ Basin

Sundance Energy Australia Ltd. is picking up Texas acreage prospective for the Eagle Ford Shale and for the Georgetown Formation and has sold its acreage in the Denver-Julesburg (DJ) Basin in order to refocus capital on core areas, the company said.

May 27, 2014

Industry Brief

The U.S. Environmental Protection Agency (EPA) issued a final greenhouse gas (GHG) permit to Dow Chemical Co. for an expansion at its plant near Freeport, TX. The facilities will process ethane and propane to produce products such as propylene and hydrogen, and they will include eight steam cracking-furnaces. When finished, the plant will produce 1.5 million tons of ethylene and other products such as propylene, butadiene and hydrogen each year (see Shale Daily,Dec. 13, 2012). The products are used in the chemical industry, as well as in the manufacturing of plastics, detergent and consumer chemicals. A Dow spokesman said, “the project remains on track to commence operations in the first quarter of 2017.” Texas is working to replace a federal GHG implementation plan with its own state program, which would eliminate the need for businesses to seek air permits from EPA. EPA has finalized 38 GHG permits in Texas, proposed an additional 10 permits, and currently has more than 22 additional GHG permit applications under review in Texas.

May 23, 2014

Oklahoma Lawmakers Pass Drilling Tax Incentive

Legislation that provides for a permanent, lowered tax rate for new oil and natural gas wells in Oklahoma is on its way to Gov. Mary Fallin, who is expected to sign it, after passing both houses of the state legislature.

May 23, 2014
Sanchez Doubles Up in Eagle Ford on the Cheap

Sanchez Doubles Up in Eagle Ford on the Cheap

Sanchez Energy Corp. is buying 106,000 net acres in the Eagle Ford Shale and associated production from Royal Dutch Shell plc for $639 million in cash. Sanchez shares zoomed Thursday.

May 22, 2014
Natural Gas- and Pipeline-Rich Louisiana Picked for Fertilizer Plant

Natural Gas- and Pipeline-Rich Louisiana Picked for Fertilizer Plant

St. Charles Parish in southeast Louisiana has been chosen as the site for a potential $1.2 billion fertilizer plant, thanks to its location in the heart of Gulf Coast natural gas country.

May 21, 2014

Louisiana Adopts Lawsuit Relief for Oil/Gas Industry

A bill intended to help Louisiana’s energy industry clear the decks of what it considers to be exploitative lawsuits is on its way to the desk of Gov. Bobby Jindal, who is a supporter of the measure. Meanwhile, industry is watching the progress of legislation to quash lawsuits that could put companies on the hook for billions in past coastal damage.

May 21, 2014

Industry Brief

Growing crude oil production from the Eagle Ford Shale has prompted Koch Pipeline Co. LP to expand its South Texas system by 24 miles in San Patricio County. A new 16-inch diameter pipeline would have initial capacity of 200,000 b/d and is expected to enter service during the second quarter. “…[T]his new pipeline will help us move domestic crude to the U.S. market more efficiently by using a combination of new and existing pipeline infrastructure,” said Executive Vice President Bob O’Hair. The company operates about 540 miles of active crude oil transportation lines in Texas.

May 21, 2014
Gulf Coast Refined Products Export Terminal Comes Online

Gulf Coast Refined Products Export Terminal Comes Online

A Gulf Coast refined products export terminal that was reactivated to take advantage of the shale oil boom has loaded its first cargo, operator Enterprise Products Partners LP said Tuesday.

May 20, 2014