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.
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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.
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.
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.
Fayetteville Shale Pulls Southwestern’s Wagon
Southwestern Energy Co. CEO Harold Korell said Friday that progress in 2007 in the company’s core Fayetteville Shale program and investments in emerging plays across the country have helped to “set the stage” for 30-35% production growth this year.
Fayetteville Shale Pulls Southwestern’s Wagon
Southwestern Energy Co. CEO Harold Korell said Friday that progress in 2007 in the company’s core Fayetteville Shale program and investments in emerging plays across the country have helped to “set the stage” for 30-35% production growth this year.
Colorado Top Global Spot for Oil/Gas, Canadian Survey Says
Colorado and Thailand are the top two locations in the world for oil and gas exploration and development investments, according to energy industry experts surveyed by The Fraser Institute, a Calgary-based research organization. This was one of the points the institute highlighted in its first global survey of upstream petroleum companies.
Colorado Top Global Spot for Oil/Gas, Canadian Survey Says
Colorado and Thailand are the top two locations in the world for oil and gas exploration and development investments, according to energy industry experts surveyed by The Fraser Institute, a Calgary-based research organization. This was one of the points the institute highlighted in its first global survey of upstream petroleum companies.
Southwestern Energy Selling Arkansas Western Gas LDC
Southwestern Energy Co. has sold its gas distribution business, Arkansas Western Gas Co., to SourceGas LLC, an affiliate of GE Energy Financial Services and Alinda Investments LLC for $224 million plus working capital.
Regency Energy Partners Buys South Texas Midstream Assets
Regency Energy Partners LP has acquired Pueblo Midstream Gas Corp. from Bear Cub Investments LLC for $55 million ($35 million in cash and approximately 750,000 Regency common units), the company said last week.