The initial buildout of the Nautilus gas gathering system in the Permian’s Delaware sub-basin is complete and the system has begun flowing gas, Crestwood Equity Partners LP said. The system includes 20 receipt point meters, 60 miles of pipeline, a 24-mile high-pressure header system, 10,800 hp of compression and a high-pressure delivery point. It is owned by Crestwood Permian Basin Holdings LLC, a joint venture of Crestwood and private equity firm First Reserve. Last September, Crestwood made a long-term agreement with SWEPI LP, a unit of Royal Dutch Shell plc, to construct, own and operate a gathering system in Shell’s operating position in the Delaware. Nautilus is designed to serve a dedication area of about 100,000 acres across Loving, Reeves and Ward counties, TX. It is expected to ultimately include 194 miles of low-pressure gathering lines, 36 miles of high-pressure trunklines and centralized compression facilities, which would be expandable as production increases, providing gathering capacity of at least 250 MMcf/d.
Rex Energy Corp. has regained full compliance with the continued listing requirements of the Nasdaq Capital Market. Rex said it received notice from Nasdaq in late May that because the company’s closing bid price has been at or above $1/share for 10 consecutive days, it has regained compliance with the minimum bid price requirement. Rex received notice in 2016 that it was not in compliance with the standard. In December, it was granted an extension to regain compliance by June 12.
Enbridge Inc. affiliate Spectra Energy Partners LP has closed its purchase of PSEG Power LLC’s 10% interest in the $1 billion PennEast Pipeline project. Completion of the deal boosts Spectra’s interest in the pipeline to 20% from 10%. PSEG remains committed to the 125,000 Dth/d it has contracted on PennEast, which is expected to enter service in late 2018. The 120-mile greenfield project would transport 1.11 million Dth/d of Marcellus Shale natural gas to markets in Pennsylvania and New Jersey. PSEG disclosed in March that it wanted to sell its interest in the project to focus on the construction of three new combined cycle power plants and the rest of its generation fleet.
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