Expanded

FERC last Wednesday gave Natural Gas Pipeline Company of America (NGPL) the green light to begin service from most of the expanded facilities at its North Lansing Storage Field in Harrison County, TX.

FERC Wednesday gave Natural Gas Pipeline Company of America (NGPL) the green light to begin service from most of the expanded facilities at its North Lansing Storage Field in Harrison County, TX.

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.

As 2008 looms near, Sempra Energy’s multi-billion-dollar bets on expanded liquefied natural gas (LNG), interstate pipeline and storage capacity are coming closer to their initial payoffs, and CEO Donald Felsinger assured financial analysts Thursday that all the critical projects are on track. Leading the way is the $800 million, 1 Bcf/d capacity Costa Azul LNG terminal along the Pacific Coast of North Baja, about 60 miles south of the U.S. border.

Sempra Energy’s multi-billion-dollar bets on expanded liquefied natural gas (LNG), interstate pipeline and storage capacity are coming closer to payoff, and CEO Donald Felsinger assured financial analysts Thursday that all of the critical projects are on track. Leading the way is the $800 million, 1 Bcf/d capacity Costa Azul LNG terminal along the Pacific Coast of North Baja, about 60 miles south of the U.S. border.

Constellation Energy Partners LLC (CEP) expanded its coalbed methane (CBM) and gas shale holdings in the Cherokee Basin of Oklahoma by closing its previously announced acquisition of AMVEST Osage Inc, a subsidiary of privately held AMVEST Corp., for about $240 million.

FERC last Thursday denied Quoddy Bay LNG LLC’s request for a reciprocity condition that would bar the flow of natural gas through expanded U.S. pipeline facilities from a proposed Canadian liquefied natural gas (LNG) terminal until the Canadian government has withdrawn its threat to block U.S.-bound LNG tankers from traversing its waters.

FERC Thursday denied Quoddy Bay LNG LLC’s request for a reciprocity condition that would bar the flow of natural gas through expanded U.S. pipeline facilities from a proposed Canadian liquefied natural gas (LNG) terminal until the Canadian government has withdrawn its threat to block U.S.-bound LNG tankers from traversing its waters.

Constellation Energy Partners LLC (CEP) expanded its coalbed methane (CBM) and gas shale holdings in the Cherokee Basin of Oklahoma with an agreement to buy AMVEST Osage Inc. from the Osage Indian Nation for $240 million. The sale is expected to close by the end of the month.