Pogo Producing Co. Wednesday announced plans to sell nonstrategic North American oil and natural gas properties located in the Gulf of Mexico, South and East Texas, South Louisiana, the Permian Basin, Texas Panhandle and Western Canada. The Houston-based independent expects to make $700-800 million from the sales, which would be used for debt reduction.
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Altamira Terminal Receives Second LNG Cargo
Terminal de LNG de Altamira, Mexico’s first operational liquefied natural gas (LNG) import terminal located near Tampico, Tamaulipas, on the country’s northeast coast, received its second LNG cargo (138,000 cubic meters) on Oct. 8 after starting commercial operations at the end of last month.
Helix to Rebuild Rita-Damaged Typhoon Platform Following Purchase
A Helix Energy Solutions subsidiary last week acquired the Typhoon, Boris and Little Burn oil and gas fields located in the Green Canyon blocks of the Gulf of Mexico from Chevron U.S.A. Inc., BHP Billiton and Noble Energy Inc. for an undisclosed amount. The massive Typhoon tension leg platform, which will be rebuilt by Helix subsidiary Energy Resource Technology Inc. (ERT), has been shut-in since before it was turned upside down during Hurricane Rita last September (see NGI, Oct. 3, 2005).
Helix Purchases Typhoon, Boris, Little Burn GOM Fields
A Helix Energy Solutions subsidiary has acquired a 100% working interest in the Typhoon, Boris and Little Burn oil and gas fields located in the Green Canyon blocks of the Gulf of Mexico from Chevron U.S.A. Inc., BHP Billiton and Noble Energy Inc. for an undisclosed amount. The massive Typhoon tension leg platform, which will be rebuilt by Helix subsidiary Energy Resource Technology Inc. (ERT), has been shut-in since before it was turned upside down during Hurricane Rita last September (see Daily GPI, Sept. 27, 2005).
Industry Brief
Calgary-based energy trust PrimeWest Energy has completed its acquisition of producing oil and gas assets located in Montana, North Dakota and Wyoming for US$300 million (C$330 million) from an undisclosed buyer. The acquisition, said PrimeWest, establishes a new operating area within the Williston Basin, “providing considerable water flood and development drilling potential.” The acquisition increases the company’s production by approximately 3,200 boe/d, composed of 94% crude oil and 6% natural gas. Approximately 80% of the crude oil production is light crude oil, produced from the Mississippian and Devonian formations. PrimeWest said it acquired about 47,000 acres in several fields, including Flat Lake, Dwyer, and Goose Lake in Montana; Rival, Grenora, Alexander, Wiley, Glenburn and Sherwood in North Dakota; and Rocky Point in Wyoming. The most prolific field, it said, is Flat Lake, which is geologically similar to the producing fields found immediately north of the Canada/U.S. border in Saskatchewan.
El Paso Brings on Two Gulf Fields, 52 MMcf/d of Gross Production
El Paso Corp. said it placed its West Cameron 75 and 62 new-field discoveries online, adding 52 MMcfe/d (20 MMcfe/d net to El Paso’s interest) to the market. The fields are located about 12 miles offshore of Cameron, LA, in 32 feet of water.
FERC Rejects Motions to Reopen Controversial Weaver’s Cove LNG Case
FERC on Monday rejected requests by New England parties to reopen the case on the proposed Weaver’s Cove liquefied natural gas (LNG) import terminal to be located in Fall River, MA, saying the parties failed to demonstrate that the company’s new plan to use smaller tankers to navigate the Taunton River amounted to “extraordinary circumstances.”
FERC OKs Pre-Filing Bids for Sparrows Point LNG, TransColorado Projects
FERC on Monday approved an AES Corp. affiliate’s request to begin the pre-filing process for a proposed $400 million liquefied natural gas (LNG) import terminal to be located at the old Bethlehem Steel Sparrows Point industrial site on Baltimore Harbor. It also gave a nod to TransColorado Gas Transmission’s request to initiate the pre-filing process under the National Environmental Policy Act for its proposed Blanco-to-Meeker expansion, which would support gas flows to the planned $3 billion Rockies Express Pipeline project.
Dominion Expects 160 MMcf/d of New Deepwater Production This Month
Dominion Exploration and Production said it started gas production from the Rigel and Seventeen Hands deepwater fields, located about 120 miles southeast of New Orleans in Mississippi Canyon Blocks 296 and 299, respectively, and expects production to reach 160 MMcf/d by the end of the month.
Transportation Notes
Northwest declared a Stage II (8% imbalance tolerance) Unauthorized Overrun Entitlement for all Receiving Party customers located north of the Kemmerer (WY) Compressor Station, effective Friday until further notice. Northwest said it declared the entitlement “in an effort to maintain its Jackson Prairie storage balance during the extremely cold weather forecast for the Pacific Northwest over the next few days.” In addition to urging customers to stay in balance, Northwest also asked customers who owe gas to the pipeline north of Kemmerer to arrange paybacks as soon as possible.