Lucas Energy Inc. is acquiring a Texas Permian Basin leasehold position from an unnamed Houston-based oil and natural gas holding company. The deal marks the company’s entry into the hot West Texas/New Mexico play.
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November natural gas is set to open 7 cents lower Wednesday morning at $3.89 as the specter of oversupply continues to loom over the market and weather forecasts — which as recently as Friday called for cooler temperatures — have shifted markedly warmer. Overnight oil markets continued to spiral lower.
Many of the responders to an initial notice of inquiry (NOI) on whether to require quarterly reporting of FERC-jurisdictional next-day and next-month transactions contend that the quarterly reporting requirement would not improve natural gas market transparency.
Sunoco Logistics Partners’ Sunoco Pipeline is holding a binding open season for its Granite Wash Extension pipeline to provide crude oil takeaway capacity for growing production from the Granite Wash Shale in the northeastern Texas Panhandle and portions of western Oklahoma. The pipeline would originate in Wheeler County, TX, and terminate in Ringgold, TX, where it would interconnect with an existing Sunoco Logistics pipeline with the ability to provide transportation to Corsicana, TX. From Corsicana, access to multiple Sunoco Logistics and third-party pipelines would provide producers the ability to reach various markets and refineries on the Gulf Coast and in the Midcontinent. The partnership would lay 200 miles of new pipeline and construct pump stations, tankage and truck unloading facilities. The Granite Wash Extension is anticipated to have an initial capacity of 70,000 b/d to Ringgold and is expected to be operational in the fourth quarter of 2014.
A FERC administrative law judge (ALJ) initial decision issued last week has found that the fuel tracking provisions for Rockies Express Pipeline LLC (REX) are not just and reasonable, recommended refunds to shippers of $22.2 million, and endorsed an alternative to the existing tracker, which was found to be overly complex and almost impossible to monitor.
A FERC administrative law judge (ALJ) initial decision has found that the fuel tracking provisions for Rockies Express Pipeline LLC (REX) are not just and reasonable, recommended refunds to shippers of $22.2 million, and endorsed an alternative to the existing tracker, which was found to be overly complex and almost impossible to monitor.
Privately held Antero Resources Corp., which has all of its chips in the Appalachian Basin, plans to raise $1 billion through an initial public offering (IPO) of some of its stock on the New York Stock Exchange, it said in a filing with the Securities and Exchange Commission (SEC). The operator also has increased capital spending plans for the year.