Launch

San Antonio-based Abraxas Energy Partners LP said Friday it will launch an initial public offering (IPO) to secure funding for its South and West Texas drilling programs. Timing and financial details were not disclosed.

Following a strong launch of the May aftermarket on Monday, things had settled down a lot Tuesday. Price movement was mixed but leaned heavily toward the downside. Growing cooling load across the southern half of the U.S. was starting to flag slightly in some sections, proving to be insufficient at this point to sustain price firmness, while mild weather meant very little weather-based load at all in northern market areas.

PetroLogistics Natural Gas Storage LLC will launch an open season Wednesday for 1 Bcf of firm gas storage service at its proposed 6 Bcf salt dome storage cavern, which will be located at the Choctaw storage facility in Iberville Parish, LA. The open season, which will conclude April 11, will offer contracts for up to 20 years.

Midstream operator Targa Resources Partners LP, backed by equity partners Warburg Pincus and Merrill Lynch Global Private Equity, plans to launch an initial public offering (IPO) to hold some of its natural gas assets. Timing for the IPO has not been announced.

Duncan Energy Partners LP, formed to own interests in some of Enterprise Products Partners LP’s Gulf Coast midstream assets, is set to launch its initial public offering (IPO) this week (see NGI, Nov. 6, 2006). About 13.0-14.95 million common units are expected to be offered, initially priced at $19-21/unit.

Duncan Energy Partners LP, formed to own interests in some of Enterprise Products Partners LP’s Gulf Coast midstream assets, will launch its initial public offering (IPO) next week (see Daily GPI, Nov. 3, 2006). About 13.0-14.95 million common units will be offered, initially priced at $19-21/unit.

Spokane, WA-based Avista Utilities last Thursday announced it plans to launch what it called a “comprehensive and innovative” demand response program for all of its electric and natural gas utility customers in three states, Idaho, Oregon and Washington. The program will take a multi-faceted approach to energy efficiency.

Mexico’s state-owned Petroleos Mexicanos (Pemex) plans to launch three new contracts in the next two months to expand associated natural gas projects in the northeastern Burgos and Sabinas basins, located near the Texas border. The contracts, estimated to be worth $2 billion, would increase Mexico’s gas production by an estimated 200 MMcf/d once they ramp up, according to Pemex CEO Luis Ramirez Corzo.

Mexico’s state-owned Petroleos Mexicanos (Pemex) plans to launch three new contracts in the next two months to expand associated natural gas projects in the northeastern Burgos and Sabinas basins, located near the Texas border. The contracts, estimated to be worth $2 billion, would increase Mexico’s gas production by an estimated 200 MMcf/d once they ramp up, Pemex CEO Luis Ramirez Corzo said in a statement.