Penn Virginia Corp. has acquired about 4,100 net Eagle Ford Shale acres in Gonzales and Lavaca counties, TX, for about $10 million. Under existing joint venture agreements, other nonoperated working interest owners are expected to acquire 17% of the net acreage in Gonzales County and 46% of the net acreage in Lavaca County, increasing Penn Virginia’s Eagle Ford acreage position by about 3,000 net acres to a total of 30,000 net acres (40,100 gross). The acquired 3,200 net acres of leasehold in Gonzales County is adjacent to Penn Virginia’s development area and is estimated to contain 20 horizontal well locations, excluding any down-spaced drilling opportunities. The acquired 895 net acres of leasehold in Lavaca County is complementary to existing leasehold in nine units, with an estimated addition of 10 horizontal well locations, the company said.
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Wind Industry Looks Over Shoulder at Gas
Normally viewed as complementary, the natural gas and wind industries found themselves more at odds last week as the American Wind Energy Association (AWEA) kicked off its annual meeting in Anaheim, CA. Windpower 2011 was less bullish than in recent years in announcing growth in megawatts and jobs, and more adversarial on regional and national debates.
Wind Industry Looks Over Shoulder at Gas
Normally viewed as complementary, the natural gas and wind industries found themselves more at odds Monday as the American Wind Energy Association (AWEA) kicked off its annual meeting in Anaheim, CA. Windpower 2011 was less bullish than in recent years in announcing growth in megawatts and jobs.
EXCO Credits Haynesville for Production Gains
EXCO Resources Inc. grew oil and natural gas production by 70% in the fourth quarter compared to the year-ago period, the company said. In 4Q2010 EXCO produced 32.2 Bcfe, or 350 MMcfe/d. Expectations are that 2011 production will average 520-580 MMcfe/d.
Biomass Partners Get $23M DOE Grant in Colorado
Two western firms with some complementary biomass power producing technology announced Monday they have received a $23 million U.S. Department of Energy (DOE) grant for a demonstration project in Colorado. Los Angeles-based Rentech Inc. and Hawaii-based ClearFuels Technology Inc. will jointly build a biomass gasifier at Rentech’s Energy Technology Center in Denver. The grant is subject to final negotiations with DOE, the companies said in a joint announcement.
Gulf South Proposes Two Expansions Supporting Growing Texas Production
East and North Texas gas production growth has prompted Gulf South Pipeline to propose two complementary pipeline expansion projects to relieve existing capacity constraints. Gulf South is holding simultaneous open seasons on the two projects, which could be stand-alone projects or could be developed jointly. Both would create additional west-to-east firm transportation capacity and provide Gulf South additional flexibility in operating its system both now and in the future.
