Iroquois Gas Transmission System said it will pursue development of the Wright Interconnect Project (WIP), an expansion of its existing compression and metering facilities in Wright, NY. Last week Constitution Pipeline Co. said that a finalized route it will propose for a Marcellus pipeline included an agreement with Iroquois to expand the compressor station, which would eliminate the need for Constitution to build a 32,0000-hp compressor facility in Schoharie County, NY (see Shale Daily, Jan. 22). The WIP project will enable delivery of up to 650,000 Dth/d of natural gas from the terminus of the proposed Constitution Pipeline in Schoharie County into both Iroquois and the Tennessee Gas Pipeline under a 15 year capacity lease agreement with Constitution, Iroquois said. WIP is targeted for an in-service date of March 2015 to coincide with the startup of the Constitution Pipeline.
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Piedmont Natural Gas, a major natural gas distributor based in Charlotte, NC, has signed a 15-year contract with Cabot Oil & Gas Corp. to purchase a “meaningful portion” of its natural gas supplies from the Marcellus Shale beginning in December 2015.
Talisman Energy Inc.’s North American production from ongoing operations experienced a healthy increase in 3Q2012, but weak natural gas prices have the company and its new CEO, Hal N. Kvisle, trimming capital expenses (capex) as part of a plan to run a more streamlined operation in 2013.
By 2021, the Eagle Ford Shale could produce nearly $62.1 billion in output, support about 82,600 full-time jobs, add nearly $34 billion in gross regional product and about $888 million to local government revenues and $1.6 billion to state revenues, according to a new studies of 14 South Texas counties comprising the Eagle Ford area.
ExxonMobil Corp. has offered US$3.14 billion in a cash and debt deal to buy Celtic Exploration Ltd., a Calgary producer with a rich array of unconventional acreage spread across the Montney and Duvernay shales, as well as leaseholds in other formations in Alberta (AB) and British Columbia (BC). The offer that was announced on Wednesday has a cash value of about $2.6 billion, excluding debt.
Three energy groups have called on the Commodity Futures Trading Commission (CFTC) to postpone the Oct. 12 date for nonswap dealers and nonmajor swap participants to comply with Title VII of Dodd-Frank Wall Street Reform Act by a minimum of a year (see NGI, Sept. 17).
Three energy groups have called on the Commodity Futures Trading Commission (CFTC) to postpone the Oct. 12 date for nonswap dealers and nonmajor swap participants to comply with Title VII of Dodd-Frank Wall Street Reform Act by a minimum of a year (see Daily GPI, Sept. 11a; July 3).
Natural gas and oil transactions to date are down about 20% this year from the same period of 2011 “in both the number and the transaction volume,” but a lot of money remains on the table for dealmaking as the market strengthens, according to the CEO of Tudor, Pickering, Holt & Co. (TPH).