Investments

Upstream Performance in 2009 Unlikely to Match Early 2008, Says Study

Upstream investments at 232 of the largest global natural gas and oil producers jumped 21% to $492 billion from 2007 to 2008, but with this year’s cash flow and revenues below year-ago levels, many producers face “serious challenges” going forward, according to a study issued Wednesday by IHS Herold Inc. and Harrison Lovegrove & Co. Ltd.

September 24, 2009

Tres Palacios Gets OK to Put Header System in Service

FERC Thursday approved a request of Tres Palacios Gas Storage LLC, a subsidiary of Westport, CT-based NGS Investments LP, to place its entire storage header system in Texas in service.

July 24, 2009

Tres Palacios Seeks to Place Storage Header System in Service

Tres Palacios Gas Storage LLC, a subsidiary of Westport, CT-based NGS Investments LP, Wednesday asked FERC for clearance to place its entire storage header system in Texas in service on July 20.

July 16, 2009

Wholesale Unit Lifts AGL Earnings 12.8%

Stronger performance from its wholesale services, energy investments and corporate segments helped drive AGL Resources Inc.’s 4Q2008 net income to $74 million and earnings of 97 cents/share, compared with net income of $66 million and earnings of 86 cents/share in 4Q2007, the company said Thursday.

February 9, 2009

Wholesale Services Drive AGL Resources Earnings Up 12.8%

Stronger performance from its wholesale services, energy investments and corporate segments helped drive AGL Resources Inc.’s 4Q2008 net income to $74 million and earnings of 97 cents/share, compared with net income of $66 million and earnings of 86 cents/share in 4Q2007, the company said Thursday.

February 6, 2009

ExxonMobil CEO: U.S. Energy Industry Needs Market-Based Policies

Market-based policies that have a long-term focus would enable the energy industry to make investments and support research efforts that would assist in the economic recovery of the United States, ExxonMobil CEO Rex Tillerson said Thursday.

December 15, 2008

ExxonMobil CEO: U.S. Energy Industry Needs Market-Based Policies

Market-based policies that have a long-term focus would enable the energy industry to make investments and support research efforts that would assist in the economic recovery of the United States, ExxonMobil CEO Rex Tillerson said Thursday.

December 15, 2008

Industry Briefs

The developer of the Bobcat Gas Storage facility in St. Landry Parish, LA, Port Barre Investments LLC, asked FERC for permission to leach three new salt dome caverns to hold an additional 24 Bcf of working gas, expand the Bobcat Compressor Station, add four meter stations and loop the North and West Pipeline Corridors. The storage facility currently is certificated for two caverns totaling 15.6 Bcf of working capacity. The expansion would raise the facility’s working capacity to 39.6 Bcf and increase the maximum deliverability to 3 Bcf/d from 1.2 Bcf/d and maximum receipt capacity to 1.6 Bcf/d from 900 MMcf/d. FERC earlier gave Bobcat Gas Storage the green light to place one of the previously certificated caverns in service (see NGI, Nov. 10). The cavern was expected to have 6 Bcf of total storage capacity at start-up, and is expandable to 7.8 Bcf. Helping to develop the facility is Haddington Energy Partners III LLC, a private equity fund. The Bobcat facility is 45 miles from Henry Hub and provides access to gas from offshore in the Gulf of Mexico and onshore in Texas and Louisiana.

November 17, 2008

Cimarex Closer to OK for Wyoming Gas Plant

Despite wildlife concerns voiced by the Wyoming Game and Fish Department, the state’s Office of State Lands and Investments has recommended approval of a special lease to Cimarex Energy Co. to build a natural gas processing and carbon sequestration plant.

August 5, 2008

Raymond James: Oilpatch Demand for New Technology Surging

With oil and natural gas prices soaring, don’t expect oilpatch investments to slow down anytime soon, Raymond James & Associates Inc. said Monday.

May 13, 2008