Joe Fisher

Vancouver-based Terrace Energy Corp. has reached an agreement to acquire and develop acreage in Zavalla and Dimmit counties in South Texas in an area that has seen “highly successful” discovery wells in the emerging Buda Limestone formation. Terrace struck a farm-in agreement for a 75% working interest (WI) in several leases that cover 10,000 gross (6,700 net) acres. The company has the opportunity to drill a series of earning wells to test the Buda formation. Each well will secure a 75% WI and a 56.25% net revenue interest in a 640 acre production unit. The company has the option to secure additional production units by drilling additional earning wells each within 120 days from the completion date of the previous earning well. Each production unit may contain up to seven additional drilling locations. The project acreage is in the core of the Eagle Ford trend and is near a number of prolific horizontal wells drilled into the naturally fractured Buda Limestone, Terrace said. “We believe the Buda Limestone formation, which is also present on our Maverick County Project, is highly prospective and will be a core focus for our company as we implement our growth model in South Texas,” said CEO Dave Gibbs.

What would be the nation’s first floating liquefied natural gas (FLNG) export terminal could be operational in the fourth quarter of 2018, developer Excelerate Energy LP said in conjunction with its FERC filing for the Lavaca Bay LNG Project.

Ground was recently broken for the first phase of a liquefied natural gas (LNG) fueling facility in Port Fourchon, LA, that its developer claims would be the first of its kind in the country, providing LNG to fuel marine operations in the region.

Canada’s National Energy Board (NEB) has green-lighted export of Canadian gas to the United States for liquefaction and further export to global markets via the planned Jordan Cove liquefied natural gas (LNG) export terminal on Coos Bay in Oregon.

What’s good for Tres Palacios Gas Storage LLC (TPGS) is good for the market, the company told FERC in a motion filed last Tuesday in its ongoing bid to abandon a portion of its Gulf Coast capacity that has become uneconomic.

As the mayor of Dallas predicted might happen, Fort Worth-based Trinity East Energy LLC is suing the city for millions of dollars after the city council voted last year to deny the company the permits it needed to drill on leases for which it had paid the city more than $19 million.

Bitter cold, high winds and heavy snows have been gripping much of the country — and the economy — and the same is true in the North Dakota oil patch. Drilling and production statistics for December show that even heavy industrial activities like drilling and well completion have their limits when it comes to extreme weather.

NiSource is investigating a rupture of its Columbia Gulf Transmission LLC pipeline that occurred about 2:05 a.m. EST Thursday on the system’s 30-inch diameter Line 200 in Adair County, KY. Shippers were not being impacted, the pipeline said.

During a week in which unitholders of another midstream master limited partnership (MLP) were rocked by a distribution cut and unit sell-off, management of Enbridge Energy Partners LP (EEP) sought Thursday to assure analysts and investors that their story is different, and “distribution is secure.”