Energy Transfer Partners LP’s (ETP) latest acquisition is intended to grow the partnership’s pipeline footprint, not in natural gas but in the far more lucrative crude oil and natural gas liquids (NGL). The focus on oil and liquids is a sign of the times as ETP intends to convert some gas pipelines to crude oil service. It’s not the only midstream player planning to re-purpose gas pipelines, a consultant pointed last week, suggesting that there are more conversions to come.
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Texas Production Prompts Midstream Expansions
As liquids-rich production continues to grow in the Lone Star State, midstream developers sensitive to producer needs last week announced plans for a pipeline expansion, two new processing facilities and a fractionator.
Petsec Buys Into Canadian Shale Oil
Petsec Energy Ltd. has agreed to pay 35% of the costs to drill at least one well and as many as three others in a shale oil project in Alberta in exchange for a 24.5% working interest in shale oil leases covering 17,280 acres, the Sydney, Australia-based independent said. The seller was not disclosed.
Colorado Report: Water for Fracking to Grow 35% by 2015
Water use for hydraulic fracturing (fracking) in Colorado is expected to grow by 35% by 2015, but it will remain a minute portion of the state’s overall water use, according to a report by a trio of state agencies, including the Colorado Oil and Gas Conservation Commission (COGCC).
Apache Deal More than Doubles Liquids Acreage in Anadarko Basin
Apache Corp. is picking up 254,000 net acres in the Granite Wash, Tonkawa, Cleveland and Marmaton plays in Oklahoma and Texas with estimated proved reserves of 71.5 million boe through a $2.85 billion deal to acquire privately held Cordillera Energy Partners III LLC, the Houston-based company said Monday.
E&Ps to Target Unconventionals, Deepwater in 2012
Global exploration and production (E&P) spending is forecast to grow by about 9% this year, with U.S. money targeting unconventional and deepwater plays, according to a survey by the energy team at Dahlman Rose & Co.
E&Ps to Target Unconventionals, Deepwater in 2012
Global exploration and production (E&P) spending is forecast to grow by about 9% this year, with U.S. money targeting unconventional and deepwater plays, according to a survey by the energy team at Dahlman Rose & Co.
California Reports Progress on Renewables
Despite the sluggish economy and low natural gas prices, renewable power generation continued to grow in California this year, according to the latest status report. The progress appears modest, however, compared to the state’s new renewable portfolio standard (RPS) of 33% by 2020.
Chesapeake Eyes JVs for at Least Three More Shale Plays
Chesapeake Energy Corp. plans to sell stakes in at least three more onshore U.S. shale plays, CEO Aubrey McClendon told energy analysts Friday, and at the same time he claimed a leadership position for the company in the new natural gas age.
Shale Gas Drives Kinder’s Move on El Paso
Kinder Morgan Inc. (KMI) and El Paso Corp. have agreed to a friendly, $38 billion buyout of the latter that KMI CEO Richard D. Kinder said is largely predicated on the growing role of natural gas in North America’s energy supply picture, thanks in large part to production from shale gas plays around the continent.