During 2012 Goodrich Petroleum will continue to emphasize oil-directed drilling over natural gas with the majority of its focus, and spending, on the Eagle Ford Shale of South Texas, the company said Wednesday.
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Rockies-to-Gulf Coast NGL Capacity Planned
Enterprise Products Partners LP plans to expand the Rocky Mountain segment of its Mid-America Pipeline (MAPL), adding 85,000 b/d of incremental natural gas liquids (NGL) capacity, the partnership said Thursday. This week other parties have announced two separate NGL projects, including two new fractionators.
Cabot Grows Production But Profits Fall
Cabot Oil & Gas Corp. saw profits shrink but production rise in the first quarter compared to the year-ago period, the result of low natural gas prices combined with expansion of operations in the Marcellus and Eagle Ford shales.
Industry Brief
Eagle Rock Energy Partners LP said it plans to expand its cryogenic Phoenix gas processing plant in Hemphill County, TX, by an incremental 30 MMcf/d. Once the expansion is completed, capacity will be 80 MMcf/d. The expansion, coupled with expansions of related gathering systems, will increase Eagle Rock’s processing and gathering capacity and accommodate volume growth from the Granite Wash play. The projects are intended to complement the partnership’s recent acquisition of CenterPoint Energy assets (see Daily GPI, Oct. 5, 2010), which extended its reach into Hemphill and Wheeler Counties on its East Panhandle System. The projects are expected to be completed during the fourth quarter at a cost of about $20 million.
ConocoPhillips Pursues Liquids-Heavy Unconventional Plays
Unconventional plays in North America will be ConocoPhillips’ priority going forward, with the focus on fields rich in liquids and oil, CFO Jeff Sheets said Wednesday.
‘Meaningful’ Well Backlog in Haynesville, Say Analysts
Because an “all-time high level” of uncompleted natural wells in the Haynesville Shale await a tie-in to pipelines, don’t expect an immediate drop-off in incremental supply as the rig count drops, analysts with Raymond James & Associates Inc. said in a note Monday.
McMoRan Sees Potential in GOM Shelf Discoveries
Incremental acquisitions in the Gulf of Mexico (GOM) weren’t enough to lift McMoRan Exploration Co.’s earnings or production in 2010, but there are signs of a turnaround in 2011, the New Orleans-based operator said last week.
Copano Growing Eagle Ford Liquids Capability
Copano Energy LLC plans to increase capacity to handle natural gas liquids (NGL) associated with growing gas production from the Eagle Ford Shale in South Texas, the midstream company said.
McMoRan’s Offshore Drilling Costs Impact Earnings
Incremental acquisitions in the Gulf of Mexico (GOM) weren’t enough to lift McMoRan Exploration Co.’s earnings or production in 2010, but there are signs of a turnaround in 2011, the New Orleans-based operator said Tuesday.
Williams Partners Plan Transco Expansion
Precedent agreements are in place to expand the Transco pipeline and provide 225,000 Dth/d of incremental firm natural gas transportation capacity over the next three years for growing markets in the Southeast, Williams Partners LP said Wednesday.