Kinder Morgan Energy Partners LP’s (KMP) Crude/Condensate pipeline (KMCC) has entered service, carrying crude oil and condensate from the Eagle Ford Shale of South Texas to the Houston Ship Channel.
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Strategic cooperation agreements inked with ExxonMobil Corp. on Monday will give Russian state-owned OAO Rosneft its first investments in North American oil and gas fields.
Wyoming’s Office of State Lands and Investments garnered $11.6 million for first-year rental and application fees on state trust land parcels offered at a quarterly oil/natural gas lease sale last Wednesday in Cheyenne. The state lands office sold all 199 parcels it offered covering approximately 83,609 acres of state trust lands. Bids ranged from $1 to $5,500/acre, the state unit said. Revenue generated from the state trust lands oil/gas lease auction is distributed to public education, the University of Wyoming and the Veteran’s Home of Wyoming. The “real revenue” from the auction comes later when there is production from the leases, according to Ryan Lance, director of the lands/investment office. The office will hold its next oil/gas lease auction Aug. 8.
In an effort to expand its production of olefins, Chevron Phillips Chemical Company LP plans to build a massive 1-hexene plant at its Cedar Bayou Chemical Complex in Baytown, TX.
While its investments with Chesapeake Energy Corp. in Barnett and Utica shale gas and oil plays have been widely publicized, Paris-based Total SA also is quietly investing in a major research and development (R&D) project looking at in-ground ways to develop oil shale, an unrealized dream of energy independence that the industry and some policymakers have flirted with for decades.
As Appalachian Basin operators cut back dry gas investments to focus on liquids, MarkWest Energy Partners LP is accommodating with a major expansion of its Marcellus, Utica and Huron shale operations.
Southwestern Energy Services Co. (SESC), an anchor shipper on a Millennium Pipeline expansion project that will transport Marcellus Shale gas, has urged FERC to approve the mostly compression expansion of Millennium by Feb. 1 so that it can be in operation by Nov. 1, delivering additional supplies to Northeast and New England markets.
Exploration and production (E&P) companies are in the early stages of a “multi-year, double-digit growth spending upcycle” around the globe that is characterized by increased drilling in complex geologies on land, as well as deepwater development, according to a new survey by Barclays Capital analysts.
Seeking to coordinate more closely with other state stakeholders, Wyoming’s Office of State Lands and Investments decided to delay action on the state’s draft policy on natural gas flaring until January. That would put off action until the State Board of Lands Commissioners, which includes Gov. Matt Mead, meets next year.