Costar Midstream LLC has acquired more than 80 miles of natural gas gathering pipelines, associated compression and treating assets in Gregg County in northeast TX. Costar operates 75,000 Mcf/d of gas processing capacity, 8,000 b/d of natural gas liquids (NGL) fractionation capacity, 20,000 hp of compression, and 30,000 Mcf/d of gas treating capacity in the area. As a result of the acquisition, Costar will construct 10 miles of 12-inch diameter pipeline to connect the NGL-rich gas supply to Costar’s existing processing plant and 600 miles of gathering pipelines. Costar is a portfolio company of Energy Spectrum Capital and was formed in April 2011 to acquire and develop midstream infrastructure.
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Industry Briefs
SandRidge Energy Inc. has agreed to sell its East Texas natural gas properties in Gregg, Harrison, Rusk and Panola counties to NFR Energy LLC for $231 million. The properties include about 25,000 net acres with average 2011 production of approximately 25 MMcfe/d. Proceeds from the deal, which is expected to close in November, will be used to fund a portion of SandRidge’s oil-focused drilling program, the Oklahoma City, OK-based company said. As a result of the sale, SandRidge expects production to be 23.9 MMBoe in 2011 and 27.7 MMBoe in 2012. SandRidge recently increased its 2011 production guidance to 24.1 MMboe from the previously announced 23.3 MMboe.
September 28, 2011
Storage Business Sputters for NW Natural
So far its effort to reach outside the regulated utility structure with a new natural gas storage field in Northern California is not paying off for Portland, OR-based NW Natural, but CEO Gregg Kantor expressed confidence that things will turn around during a conference call Wednesday announcing second quarter earnings that were down quarter over quarter.
August 4, 2011
Panhandle Eyes 500 MMcf/d Ohio Capacity Expansion/Extension Project
Panhandle Eastern Pipe Line is planning to add 500 MMcf/d of firm transportation capacity on its Muncie Lateral in Ohio and will extend the line with a 124-mile, 30-inch diameter pipe, designed to carry western and southwestern supplies eastward.
April 26, 2004
Panhandle Eyes 500 MMcf/d Ohio Capacity Expansion/Extension Project
Panhandle Eastern Pipe Line is planning to add 500 MMcf/d of firm transportation capacity on its Muncie Lateral in Ohio and will extend the line with a 124-mile, 30-inch diameter pipe, designed to carry western and southwestern supplies eastward.
April 21, 2004
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