The recent surge in natural gas prices may have provoked some optimism in the energy sector, but it’s not enough to encourage more drilling, according to Barclays Capital, which expects the rig count to not surpass 450 this year.
Liquids
Articles from Liquids
GTL Facility Planned for Blair County, PA
Privately-held Marcellus GTL LLC plans to build a natural gas-to-liquids (GTL) processing plant in Blair County, PA, in the heart of the Marcellus Shale.
Dow Expands Shale-Focused Project Slate
Continuing its strategy to take advantage of cheap U.S. natural gas and natural gas liquids, The Dow Chemical Co. plans to build several specialty material production units for its performance plastics franchise on the U.S. Gulf Coast, the company said last week. The plan further connects Dow’s U.S. manufacturing operations with cost-advantaged feedstocks available from shale gas.
Dow Continuing Projects to Capitalize on Cheap U.S. Gas
Continuing its strategy to take advantage of cheap U.S. natural gas and natural gas liquids, The Dow Chemical Co. plans to build several specialty material production units for its performance plastics franchise on the U.S. Gulf Coast, the company said Monday.
Matador an Eagle Ford Oil Bull
Matador Resources Co., which is focused on the liquids-rich portion of the Eagle Ford Shale, grew its oil production almost eight-fold last year to just over 1.2 million bbl from 154,000 bbl in 2011 and 33,000 bbl in 2010. The company will stay focused on the Eagle Ford and growing its Permian Basin position as gas prices aren’t high enough to support more Haynesville Shale activity, CEO Joe Foran said Thursday.
Industry Brief
NuStar Energy LP’s planned acquisition of natural gas liquids (NGL) pipeline and fractionation assets could be in jeopardy as seller TexStar Midstream Services LP told the company in mid-February that it was terminating the sale. NuStar disclosed during a midstream conference presentation in early March that it was evaluating its legal options in the matter. “If NuStar does not complete this acquisition, we do not expect a material adverse impact on our results of operations,” the company said in a presentation to a Morgan Stanley midstream conference. Last November, NuStar said it was buying the Eagle Ford Shale NGL assets, as well as Eagle Ford crude oil pipeline, gathering and storage assets (see Shale Daily, Nov. 9, 2012). The crude oil asset transaction, worth about $325 million, has closed. The pending NGL asset transaction is worth about $100 million.
Pembina Mounting C$1B Post Merger Buildout
Calgary-based Pembina Pipeline Corp. said it will proceed with a C$1 billion expansion of its natural gas liquids (NGL) infrastructure, with at least some of the development intended to build upon its acquisition of Provident Energy Ltd., which was completed last year.
Pembina Mounting C$1B Post Merger Buildout
Calgary-based Pembina Pipeline Corp. said it will proceed with a C$1 billion expansion of its natural gas liquids (NGL) infrastructure, with at least some of the development intended to build upon its acquisition of Provident Energy Ltd., which was completed last year.
EV Energy Partners Stock Down as Sale of Utica Assets Proves Elusive
Shares of EV Energy Partners LP (EVEP) took a hit Friday after the company announced net losses for the fourth quarter and full-year 2012, and said it could take anywhere from one month to the rest of the year to sell most of its acreage in the eastern Ohio portion of the Utica Shale.
Oneok Reports 90,000 B/d of Ethane Rejection
Oneok Inc. and its pipeline partnership currently are experiencing more than 90,000 b/d of ethane rejection across the natural gas liquids (NGL) pipeline systems, a level expected to be in place “for much of the year,” a top executive said last week.