Haynesville

Shale gas plays gained 14 active rigs to 964 rigs in the week ended April 29 over the previous week’s 950 rigs for a 1% increase, but the total was a 2% decrease from the 981 rigs active a month ago for the week ending April 1, according to NGI’s Shale Daily Unconventional Rig Count.

With the onshore oil rig count “on fire,” Raymond James & Associates Inc. on Monday raised its U.S. onshore rig forecast for 2011 by 3% and initiated a 2012 forecast that is 9% higher year/year (y/y).

Philadelphia officials on Tuesday directed the city-owned natural gas utility not to buy Marcellus Shale gas until more is known about the safety of hydraulic fracturing (hydrofracking).

Shale giant Chesapeake Energy Corp. “has one of the industry’s best collections of natural gas assets,” but “continuing concerns about the company’s profligate spending” and accounting methods led veteran analyst Philip H. Weiss of Argus Research to trim his recommendation to “sell” last week.

Midcontinent Express Pipeline’s (MEP) access to high-growth gas shale basins, such as the Barnett, Bossier, Woodford and Haynesville, plus long-term, fixed-fee capacity reservation contracts give the 505-mile pipeline a “stable outlook,” according to Fitch Ratings.

Midcontinent Express Pipeline’s (MEP) access to high-growth gas shale basins, such as the Barnett, Bossier, Woodford and Haynesville, plus long-term, fixed-fee capacity reservation contracts give the 505-mile pipeline a “stable outlook,” according to Fitch Ratings.

North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but it’s particularly strong in the Marcellus, Haynesville and Bakken shale plays, the company’s management team said Thursday.

North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but it’s particularly strong in the Marcellus, Haynesville and Bakken shale plays, the company’s management team said Thursday.

CenterPoint Energy Gas Transmission Co. (CEGT) has entered into two separate firm transportation agreements to transport Chesapeake Energy Corp.’s Haynesville Shale natural gas. CEGT, the interstate pipeline subsidiary of CenterPoint Energy Inc., owns and operates Line CP, a 1.55 Bcf/d pipeline that extends from Carthage, TX, to the Perryville Hub in Louisiana. Under the agreements with Chesapeake Energy Marketing Inc., CEGT will transport gas on both a forward-haul basis to CEGT’s Perryville Hub and on a backhaul basis to Carthage. The 27-month backhaul agreement provides for firm transportation volumes to ramp up to 500 MMcf/d. The long-term firm forward-haul agreement provides for 230 MMcf/d of capacity, effective when CEGT’s Phase IV Line CP compression expansion goes into service, currently projected for April 2010. CEGT said its application for the Phase IV expansion has been filed with the Federal Energy Regulatory Commission (FERC). To fulfill the forward-haul requirements of the agreement, CEGT said it would add a compressor to each of Line CP’s Westdale Compressor Station in Red River Parish, LA, and Vernon Compressor Station in Jackson Parish, LA. The expansion would add 274 MMcf/d of capacity to CEGT’s Line CP, bringing the total year-round capacity to more than 1.8 Bcf/d. CEGT previously held an open season for expansion of Line CP’s capacity (see NGI, June 30, 2008). It also is evaluating proposals for the remaining 44 MMcf/d capacity in the Phase IV expansion and said it plans to execute definitive service agreements before the project is placed in service in 2010.