Appalachia

Chevron U.S.A. Inc. and EQT Corp. marketing unit EQT Energy LLC have stepped up to be anchor shippers on Texas Eastern Transmission LP’s Texas Eastern Appalachia to Market (TEAM) 2014 expansion, Spectra Energy Corp.’s Texas Eastern said Thursday. The project is intended to deliver more Appalachian shale gas to markets in the Northeast, Midwest and southern United States.

Ohio is a “long shot” for a world class ethane cracker planned for Appalachia, but the state would still benefit if the facility lands anywhere in the region, Ohio Gov. John Kasich said Tuesday.

Fort Worth, TX-based Range Resources Corp. plans to focus 75% of its $1.6 billion capital budget for 2012 on liquids-rich plays in Appalachia and the Midcontinent. Range is adding five “enhancements” this year: the “super-rich” Marcellus Shale, the “super-rich” Upper Devonian Shale, the wet Utica Shale, the horizontal Mississippian plays and the Cline Shale in the Permian Basin. In the fourth quarter Range recorded a net loss of $3 million (minus 2 cents/share) versus a net loss of $318 million (minus $2.02) in the year-ago quarter. Range said the increase in quarterly net income from a year ago was driven by a 46% increase in production and lower costs per Mcfe. The company earned $58 million for full-year 2011 (36 cents/share) compared with a net loss of $239 million (minus 52 cents) in 2010. Cash flow from operations increase 28% to $737 million from $577 million in 2010. Although it lost 20% of its production by selling its Barnett Shale assets in 2011, Range posted a 12% increase in production to 554 MMcfe/d. The company expects 30-35% production growth this year.

Enterprise Products Partners LP said Tuesday an open season has shown that enough shippers are interested in taking capacity on its proposed Appalachia to Texas (Atex Express) ethane pipeline to support the 1,230-mile project. The pipeline would deliver ethane from the Marcellus/Utica Shale areas of Pennsylvania, West Virginia and Ohio to the U.S. Gulf Coast.

Chesapeake Midstream Partners LP (CHKM) said Wednesday it agreed to pay $865 million to acquire Appalachia Midstream Services LLP, which it said would create the industry’s largest gathering and processing master limited partnership (MLP) as measured by throughput volume.

A collection of energy players announced plans Wednesday to expand a major interstate pipeline to accommodate emerging shale gas supplies from Ohio.

Anadarko Petroleum Corp. keeps drilling faster all the time, particularly in the Rocky Mountains, the southern and Appalachia regions, according to the company’s latest operations update. Second quarter earnings got a lift from record sales volumes of liquids production.

Cabot Oil & Gas Corp. is backing out of the Rockies to focus on Appalachia and the Midcontinent.

Cabot Oil & Gas Corp. is backing out of the Rockies to focus on Appalachia and the Midcontinent.