Adjacent

An oil and natural gas asset exchange between Occidental Petroleum Corp. (Oxy) and BP plc will give Oxy some properties adjacent to its existing Permian Basin operations and give BP 100% control of the deepwater Horn Mountain block in the Gulf of Mexico (GOM).

An oil and natural gas asset exchange between Occidental Petroleum Corp. (Oxy) and BP plc will give Oxy some properties adjacent to its existing Permian Basin operations and give BP 100% control of the deepwater Horn Mountain block in the Gulf of Mexico (GOM).

Calgary-based Progress Energy Trust last week acquired some natural gas-rich assets adjacent to its core properties in northeastern British Columbia and northwestern Alberta from the Canadian unit of BG Group for C$526 million. Subsequent to the transaction, Progress sold a partial interest in the Foothills assets to affiliate ProEx Energy Ltd. for C$134.3 million.

Calypso U.S. Pipeline LLC, a subsidiary of SUEZ Energy North America Inc., has asked FERC to reconsider a January order that denied Calypso’s request to begin construction of the U.S leg of an offshore Florida pipeline before an affiliate has received regulatory approval to build an associated liquefied natural gas (LNG) terminal in the Bahamas and a connecting Bahamian pipeline. Calypso is seeking rehearing so that it can interconnect with affiliate Calypso LNG LLC’s proposed deepwater LNG port.

PAA/Vulcan Gas Storage LLC, a joint venture between Plains All American Pipeline LP and Vulcan Capital, said it purchased an additional 240 acres of land adjacent to the proposed 24 Bcf Pine Prairie Energy Center (PPEC) gas storage project near near Pine Prairie, LA, in order to provide space for future expansions. The company said that along with existing acreage the additional land could provide space for another 11 salt caverns, bringing ultimate working gas capacity to 112 Bcf.

PAA/Vulcan Gas Storage LLC, a joint venture between Plains All American Pipeline LP and Vulcan Capital, said it purchased an additional 240 acres of land adjacent to the proposed 24 Bcf Pine Prairie Energy Center (PPEC) gas storage project near near Pine Prairie, LA, in order to provide space for future expansions. The company said that along with existing acreage the additional land could provide space for another 11 salt caverns, bringing ultimate working gas capacity to 112 Bcf.

Irving Oil and Repsol announced the initial phase of construction on their $445 million Canaport LNG import terminal, which will be located adjacent to Irving’s 250,000 bbl/d Canaport refinery in St. John, New Brunswick about 65 miles from the U.S. border.

Reliant Energy Power Generation Inc. said it is buying the 150MW Sunrise Power Plant in Las Vegas and a 222 MW power purchaseagreement relating to three adjacent gas turbine generation unitsknown as Sun-Peak from Sierra Pacific Resources for $33 million.The deal, which is subject to regulatory approvals, gives Reliantabout 372 MW of generation capacity. In addition, Reliant andSierra Pacific subsidiary Nevada Power entered into a short- termpower supply agreement.

Occidental Petroleum Corp. has purchased from Chevron deepexploration rights on 19,834 acres of land adjacent to its ElkHills holdings. Called the Buena Vista field, the Kern County, CA,property is seen by Oxy and some other producers as having hugepotential oil and gas reserves. Terms of the transaction were notdisclosed.