Columbia Gulf said a heating value limit of 1,050 Btus per cubic foot on gas tendered to its system, initiated in January, will remain in effect at least until the end of September.
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Transportation Notes
Gulf South said unscheduled maintenance that began Monday on unit #3 at Bistineau (LA) Station, originally expected to be wrapped up Wednesday afternoon, has been extended through Friday. The work is reducing injection capacity at the pipeline’s Bistineau Storage Facility by 75 MMcf/d.
Construction Starts on Gulfstream
Gulfstream Natural Gas System, LLC broke ground last Thursday on its $1.6 billion, 753-mile pipeline under the Gulf of Mexico from Mississippi and Alabama to Florida. The target for completion is June, 2002.
Construction Starts on Gulfstream
Gulfstream Natural Gas System, LLC broke ground Thursday on its $1.6 billion, 753-mile pipeline under the Gulf of Mexico from Mississippi and Alabama to Florida. The target for completion is June, 2002.
Central GOM Bidding Attracts $505.4M
The annual Central Gulf of Mexico lease sale, considered aleading barometer of the energy industry’s exploration andproduction efforts, drew a healthy response Wednesday in NewOrleans, with the Minerals Management Service receiving bidstotaling $505,468,501. The 547 blocks, located off the coasts ofLouisiana, Mississippi and Alabama, drew bids from 90 companies – a60% higher response than last year.
Aquila Secures Rights to Houston Salt Cavern
Aquila is beefing up is high deliverability gas storage holdingsin the Gulf Coast region in preparation for serving growinggas-fired power generation demand. The company bought rights to theproposed Houston Energy Center, a greenfield, natural gas saltcavern storage project being developed by SG Resources of Houston,Inc. The sale price was not disclosed.
Transportation Notes
Gulf South (formerly Koch Gateway) is performing unscheduledmaintenance on one unit at the Bistineau Compressor Station innorthwest Louisiana until further notice. Withdrawals from theBistineau storage facility could be reduced as much as 100 MMcf/duntil repairs are completed.
GOM Drilling Up 58.2% in 2000
The 20% boost to exploration and production budgets this yearshould result in record results for offshore drilling, especiallythe Gulf of Mexico, according to drilling contractor Global MarineInc.’s annual Summary of Current Offshore Rig Economics — SCORE.In November and December 2000, GOM drilling increased 3.5%, andsoared 58.2% from a year ago. Worldwide, drilling was up 49.7% from1999.
Blackout-Impacted CA Only Market Not Still Sliding
“The market is tanking. That pretty well sums it all up in anutshell,” was how a Gulf Coast marketer characterized the pricesituation Wednesday. Only California, where a series of rollingblackouts began in the northern part of the state (see related story), failed to participate infurther price declines that were mostly between about a quarter and 50cents.
Ocean Energy’s Reserve Replacements Up 269%
Exploration successes in its deepwater Gulf of Mexico drillingprogram helped to triple reserve replacement to 269% last year forHouston-based Ocean Energy Inc., a positive sign that otherindependents hope to mimic as fourth quarter results are announcedin the next few weeks. Ocean Energy’s over-the-top numbers may notbe matched, but analysts believe independents’ reserve replacementswill be up, averaging around 3%.