Western Gas Partners LP has exercised an option to acquire a 25% interest in a joint venture with Enterprise Products Partners LP to own two fractionation trains (Trains 7 and 8) being constructed in Mont Belvieu, TX. The trains, scheduled to begin service later this year, would be operated by Enterprise. Western, formed by Anadarko Petroleum Corp., also plans to begin constructing a second cryogenic processing train at its Lancaster plant in the Denver-Julesburg Basin this year. Lancaster II is expected to have a capacity of 300 MMcf/d with throughput of 200 MMcf/d guaranteed by an Anadarko subsidiary. The partnership anticipates the project will cost $165 million, with 50% spent in 2013 and the remainder spent by early 2015. The new train is expected to begin operating in early 2015.
Exercised
Articles from Exercised
Energy Transfer Warns Southern Union
The war of words continued on Wednesday between Energy Transfer Equity LP (ETE) and the object of its merger affections, Southern Union Co.
Marcellus Benefits Far Outweigh Environmental Concerns, Says Report
The economic benefits of developing shale natural gas resources in the state of New York are “enormous” and vastly outweigh the “small” environmental costs, according to a new report by the Manhattan Institute’s Center for Energy Policy and The Environment.
Arcapita Takes Over Falcon Gas Storage
Falcon Gas Storage Co. Inc.’s founding management group has exercised a partial equity sale option and will step down at the end of the year, while retaining a “significant” equity ownership position in the company, it said last week.
Falcon’s Founders Bow Out; Arcapita Takes Over Storage Developer
Falcon Gas Storage Co. Inc.’s founding management group has exercised a partial equity sale option and will step down at the end of the year, while retaining a “significant” equity ownership position in the company, it said Monday.
Devon, BP to Share Kaskida Stakes in Deepwater GOM
Devon Energy Corp. and BP plc exercised their rights of first refusal and blocked Anadarko Petroleum Corp.’s plans to sell StatoilHydro a quarter stake in a promising deepwater Gulf of Mexico (GOM) discovery.
FERC Flexes EPAct Muscles to OK Market-Based Rates for Storage Project
FERC has exercised its new authority under the Energy Policy Act of 2005 (EPAct) that allows it to authorize market-based rates for storage services even if an applicant has market power.
FERC Flexes EPAct Muscles to OK Market-Based Rates for Storage Project
FERC Friday exercised its new authority under the Energy Policy Act of 2005 (EPAct) that allows it to authorize market-based rates for storage services even if an applicant has market power.
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.
ConocoPhillips Takes 25% Stake In Rockies Express
ConocoPhillips exercised an option to acquire a 25% stake in the Rockies Express Pipeline Project, Kinder Morgan Energy Partners LP (KMP) and Sempra Pipelines & Storage said Friday. The oil major, whose Lower 48 natural gas output increased substantially with its acquisition of Burlington Resources (see Daily GPI, April 3), said it will move gas production on the pipeline in addition to owning a stake.
