Driven

The venerable Permian Basin in West Texas is in the “early innings” of an oil/gas renaissance that promises to be technology driven, riding the wave of horizontal drilling, which still represents only a quarter of Permian rig activity, according to a report released Monday by Houston-based financial services company U.S. Capital Advisors.

Following 30 years of declining oil output in the Lower 48 states, the United States now is well on its way to becoming energy independent — a structural supply shift that promises to reach well beyond oil and natural gas stocks, analysts with Raymond James & Associates Inc. said in a note Monday.

Driven by natural gas liquids (NGL) production out of the Rockies and the Eagle Ford Shale of South Texas, Enterprise Products Partners LP plans to construct two more NGL fractionators at its Mont Belvieu, TX, facility. These would provide 150,000 b/d of incremental capacity.

The buildout of infrastructure to serve growing liquids-rich natural gas production from shale plays is continuing. Driven by natural gas liquids (NGL) production out of the Rockies and the Eagle Ford Shale of South Texas, Enterprise Products Partners LP plans to construct two more NGL fractionators at its Mont Belvieu, TX, facility. These would provide 150,000 b/d of incremental capacity. Pipeline construction also is under way.

Driven by natural gas liquids (NGL) production out of the Rockies and the Eagle Ford Shale of South Texas, Enterprise Products Partners LP plans to construct two more NGL fractionators at its Mont Belvieu, TX, facility. These would provide 150,000 b/d of incremental capacity.

Officials with the Department of Energy’s (DOE) Energy Information Administration (EIA) said they plan to publish their annual report on proved reserves in the Marcellus Shale by spring. However, budget cuts last year temporarily forced the agency to cut the report.

Driven mostly by North America, the world market for oilfield specialty chemicals climbed to almost $16 billion in 2010, with the United States and Canada accounting for more than half (52%), according to a global market study by IHS Chemical.

FERC Wednesday issued a favorable environmental assessment (EA) of National Fuel Gas Supply Corp.’s Line N 2012 expansion project that would increase the takeaway capacity from the Marcellus Shale basin to serve Northeast markets.

SM Energy Co. and Mitsui & Co. Ltd. unit Mitsui E&P Texas LP have closed their acquisition and development agreement (ADA), giving Mitsui E&P a 12.5% working interest in SM Energy’s nonoperated Eagle Ford Shale acreage.