Already

While repercussions such as the bankruptcy filing of Seahawk Drilling Inc. are already being felt from the months-long de facto moratorium on Gulf of Mexico oil and natural gas drilling, the shockwaves from the U.S. government action are likely to reverberate for many years to come, even after the permitting flowrate gets back up to speed, according to a panel of drilling and well service veterans speaking at CERAWeek 2011 in Houston.

Enterprise Products Partners LP (EPD) has offered to buy Duncan Energy Partners LP (DEP), of which it already owns a majority, through a unit-for-unit exchange. The deal — long expected by at least one analyst — values Duncan units at $42 each, a premium of about 30% based on the pre-deal closing price.

Enterprise Products Partners LP (EPD) has offered to buy Duncan Energy Partners LP (DEP), of which it already owns a majority, through a unit-for-unit exchange in a deal worth about $2.42 billion.

The partners behind Kitimat LNG plan to acquire the 50% interest in Pacific Trail Pipelines LP they don’t already own from Pacific Northern Gas Ltd. (PNG) for $50 million. The deal is intended to support export of gas from the Horn River Basin and other Western Canada plays as liquefied natural gas (LNG) to Asian markets. Apache Canada Ltd. and EOG Resources Canada Inc. said they will pay PNG $30 million on closing, which is expected by the end of February, and make a second payment of $20 million when the partners decide to proceed with construction of the Kitimat LNG export facility at Bish Cove, BC (see NGI, Jan. 3).

The partners behind Kitimat LNG plan to acquire the 50% interest in Pacific Trail Pipelines LP they don’t already own from Pacific Northern Gas Ltd. (PNG) for $50 million. The deal is intended to support export of gas from the Horn River Basin and other Western Canada plays as liquefied natural gas (LNG) to Asian markets.

On the verge of Tuesday’s official start of winter, it seemed like the season had already gotten off to a strong start last week but was tending to recede a bit. However, except for some fairly big slides from last week’s $10-plus heights in the Northeast, most points registered moderate increases Monday.

America’s Natural Gas Alliance (ANGA), the Independent Petroleum Association of America and the American Exploration & Production Council said Thursday they support a recently announced effort to disseminate information on chemicals used in hydraulic fracturing (fracking).

A two-year-old study that detailed the potential of unconventional natural gas supplies already needs to be updated because remarkable advancements in drilling technology are driving recoverable gas reserves ever higher, a Navigant Consulting Inc. director said last week.

Baker Hughes Inc.’s management team reported Monday that the purchase of pressure pumping specialist BJ Services Inc. already is paying off, helping to boost quarterly profits both year/year and sequentially, with most of the uptick coming from work in North America’s unconventional basins.