After completing 27 mergers and acquisitions in 15 years, Devon Energy Corp. always had a surplus of people, but the “new” people masked a problem that began to surface about two years ago, the company’s manager of project support said Wednesday. Ten percent of Devon’s workforce now is eligible for early retirement and nearly 60% will be eligible to leave within 10 years, and the producer now is stepping up its recruitment and retention program.
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March Start-Up Now Eyed for Rest of REX-West
Rockies Express Pipeline LLC’s (REX) projected time frame — early February — for completing the remainder of its western leg known as REX-West has come and gone. The company now expects the remaining 213 miles of the REX-West project, running eastward from an ANR Pipeline interconnect in Brown County, KS, to Panhandle Eastern Pipe Line (PEPL) in Audrain County, MO, to be in service some time in March.
March Start-Up Date Now Eyed for Rest of REX-West
Rockies Express Pipeline LLC’s (REX) projected time frame — early February — for completing the remainder of its western leg known as REX-West has come and gone.
Enterprise’s Pioneer Plant Begins Processing 525 MMcf/d
Completing its long awaited expansion of the Pioneer natural gas processing plant in Sublette County, WY, Enterprise Products Partners LP said last week that production at the state-of-the-art facility is currently ramping up and the plant is expected to be processing approximately 525 MMcf/d of natural gas from the Enterprise-operated Jonah Gas Gathering System and extracting approximately 25,000 b/d of natural gas liquids (NGL).
Enterprise’s Pioneer Plant Begins Processing 525 MMcf/d
Completing its long awaited expansion of the Pioneer natural gas processing plant in Sublette County, WY, Enterprise Products Partners LP said Wednesday that production at the state-of-the-art facility is currently ramping up and the plant is expected to be processing approximately 525 MMcf/d of natural gas from the Enterprise-operated Jonah Gas Gathering System and extracting approximately 25,000 b/d of natural gas liquids (NGL).
BP Prioritizes Thunder Horse, Atlantis GOM Projects
BP plc, the largest acreage holder in the deepwater Gulf of Mexico (GOM), will postpone some of its big projects offshore to concentrate on completing the long-delayed Thunder Horse and Atlantis subsea structures.
BP Said to Prioritize Thunder Horse, Atlantis GOM Projects
BP plc, the largest acreage holder in the deepwater Gulf of Mexico (GOM), will postpone some of its big projects offshore to concentrate on completing the long-delayed Thunder Horse and Atlantis subsea structures, the Financial Times (FT) reported late Wednesday.
Industry Briefs
New Orleans-based McMoRan Exploration Co. expanded its position in the Gulf of Mexico after completing its purchase of the Gulf of Mexico Outer Continental Shelf (OCS) properties of Newfield Exploration Co. for $1.08 billion (see NGI, June 25). The properties include 124 fields on 148 offshore blocks that produced 260 MMcfe/d in 2Q2007. Proved reserves as of July 1 are estimated at 323 Bcfe, which is 70% weighted to natural gas. About 90% of the proved reserves for the acquired properties were based on estimates by Ryder Scott Co. LP. McMoRan acquired 1.3 million gross acres of offshore leases and a 50% interest in Newfield’s nonproducing exploration leases on the OCS. It also acquired some of Newfield’s interests in leases associated with its Treasure Island prospect inventory. McMoRan said it is retaining personnel and contractors who have supported Newfield’s management of the acquired properties. In addition, McMoRan and Newfield plan to jointly pursue exploration activities on nonproducing leases on the OCS held by Newfield.
McMoRan Takes Over Newfield’s OCS Properties
New Orleans-based McMoRan Exploration Co. expanded its position in the Gulf of Mexico after completing its purchase of the Gulf of Mexico Outer Continental Shelf (OCS) properties of Newfield Exploration Co. for $1.08 billion (see Daily GPI, June 22).
Ormat Inks 4 Deals for Power from Pipeline Compressor Waste Heat
Ormat Technologies announced Monday that it has exercised some previously announced options completing four 25-year purchased power agreements with Bismarck, ND-based Basin Electric Power Cooperative for small amounts of electricity that will be generated with some of Ormat’s recovered energy generation equipment on natural gas transmission pipeline compressors. Collectively, the deals amount to 22 MW and will be phased in over the next two years.