Tulsa-based Midstream Energy Services said it signed agreements to purchase the Keyes, OK, natural gas processing and treating plant, a 155-mile gathering system in Oklahoma and Colorado and a 38-mile helium pipeline in Kearny County, KS, from Nathaniel Energy Corp. and subsidiaries for $16.2 million. The Keyes Plant is a 12 MMcf/d propane refrigeration, cryogenic helium extraction, and amine treating plant that processes gas from several Oklahoma and Colorado gas fields, including the Keyes field in Cimarron and Texas Counties, OK. The Keyes field is one of the premier helium supplies in the country, and the Keyes Plant provides one of only nine liquefaction processes for helium in the United States, a commodity that trades for over $55/Mcf in unrefined form. “In an environment of rising commodity prices, these assets provide more than the traditional services that exist in the midstream sector by handling off-spec, high-nitrogen natural gas, helium extraction as well as traditional gas processing capabilities,” said Midstream President Jim Lind.
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Canadian Agencies Reject First Nation Claims
While the Mackenzie Gas Project struggles to make land access and benefits agreements with aboriginal centers along its pipeline route, regulators are doing their bit to prevent further delays by preventing the native relations sore spot from spreading.
Encore Acquisition Acquires OK, MT and ND Oil and Gas Assets for $123 M
Fort Worth, TX-based Encore Acquisition Co. announced Monday that it has entered into two separate agreements to purchase oil and gas interests and an unnamed oil and gas company from private sellers for approximately $123 million.
TransCanada Tests Market for Converting Part of Mainline to Oil Transport
TransCanada Corp. is planning a binding open season this month to establish precedent agreements for oil transportation capacity on its proposed 1,870 mile Keystone oil pipeline project from Alberta to Illinois, which includes conversion of a 770-mile section of its natural gas mainline from near the Alberta-Saskatchewan border to just west of Winnipeg, MB.
Pioneer Increases Onshore Holdings with $177M Purchase
Dallas-based Pioneer Natural Resources Co. has signed agreements worth $177 million with two undisclosed parties to purchase additional assets in two key U.S. onshore core areas, the Permian Basin and South Texas.
NGI The Weekly Gas Market Report
Nexen Readies for Oilsands Startup, Sells E&P Assets for C$946M
Calgary-based independent Nexen Inc. is finalizing agreements with four undisclosed buyers to sell conventional oil and gas properties in southeast Saskatchewan, northwest Saskatchewan, northeast British Columbia and the Alberta foothills for C$946 million (US$762 million) to pay down debt and get ready for startup of its 50%-owned Long Lake oilsands project late next year.
Nexen to Sell Canadian Properties for C$946M
Calgary-based independent Nexen Inc. is finalizing agreements with four undisclosed buyers to sell conventional oil and gas properties in southeast Saskatchewan, northwest Saskatchewan, northeast British Columbia and the Alberta foothills for C$946 million (US$762 million) to pay down debt and get ready for startup of its 50%-owned Long Lake oilsands project late next year.
Anadarko Secures Capacity Agreements for Proposed LNG Terminal in Nova Scotia
Anadarko Petroleum Corp. has signed agreements for nominated capacity on a planned expansion of the Maritimes & Northeast Pipeline system to deliver volumes into Canadian and U.S. markets from the producer’s planned Bear Head liquefied natural gas (LNG) import terminal, which is scheduled to start up in 2008.
Questar Inks Pact with Ute Tribe for E&P, Gathering in Uinta Basin
Questar Corp. said two of its subsidiaries have reached agreements with the Ute Indian Tribe of the Uintah and Ouray Indian Reservation allowing the company to conduct gas exploration and production (E&P) on tribal lands in the Uinta Basin of northeastern Utah and to construct gas gathering and processing infrastructure to serve the area.
Williams to Step Up Drilling in Piceance Basin; Signs Contract for 10 New Rigs
The Williams Cos. last Wednesday said it signed agreements to operate 10 new rigs as part of its program to step up production in the gas-rich Piceance Basin in western Colorado.
