Chesapeake Energy Corp. has completed sales of its Permian Basin properties, which allows it to reduce the outstanding balance on existing term loans to $1.2 billion from $4 billion by the end of this month. The company said it plans to fully repay the term loans by the end of the year. The assets sold produced close to 21,000 b/d of liquids and 90 MMcf/d of natural gas in 2Q2012, or about 5.7% of Chesapeake’s production during the period. The multi-sales package was announced in September (see Shale Daily, Sept. 13). SWEPI LP, a subsidiary of Royal Dutch Shell plc, bought the southern Delaware Basin assets, while the northern Delaware Basin portion was sold to Chevron U.S.A. Inc., a subsidiary of Chevron Corp. The producing assets in the Midland Basin were sold to affiliates of Houston-based EnerVest Ltd.
Long
Articles from Long
Spectra’s NJ-NY Expansion Tracking Late ’13 Start-Up
Spectra Energy’s long-under-attack New Jersey-New York Expansion early last week received unanimous approval from FERC, which means firm natural gas transportation service into Manhattan could be operational sometime during the fourth quarter of 2013.
Kennebec Valley Pipeline Battle Moves to Maine Courtroom
A legal battle over a Maine Natural Gas (MNG) proposal to build an 80-mile-long natural gas pipeline to Maine’s state capital and the surrounding Kennebec Valley has taken another turn with a lawsuit filed by MNG, which claims a competitor’s previously successful challenge to the project was filed too late.
Canada Clamping Down on Pipeline Violations
Stiff new fines are in store for sloppy digging or other misbehavior — by any company or person — that causes leaks and spills from Canadian long-distance pipelines under federal regulation,
Canada Clamping Down on Recklessness Around Pipelines
Stiff new fines are in store for sloppy digging or other misbehavior — by any company or person — that causes leaks and spills from Canadian long-distance pipelines under federal regulation,
Big Incentives for Producers to Reduce Water Use, Say Execs
Environmental questions and high costs for water have created a big headache for unconventional oil and gas producers, but it won’t take long before those problems are turned into opportunities for other businesses, according to industry executives.
Industry Briefs
Construction of Millennium Pipeline Co. LLC’s Minisink Compressor project has been approved by FERC “after a long and intensive review,” the company said. The project, which consists of two 6,130 hp compressors in Minisink, NY, would increase deliverability to the eastern end of the pipeline to about 675,000 Dth/d. Millennium filed for the project in July 2011. Southwestern Energy Services Co., an anchor shipper, urged the Federal Energy Regulatory Commission to approve the expansion by Feb. 1 so that it could be in operation by the start of the winter heating season, Nov. 1. However, Commission staff sought consideration of an alternative compressor station site (see Daily GPI, Jan. 9).
Big Incentives for Producers to Reduce Water Use, Say Execs
Environmental questions and high costs for water have created a big headache for unconventional oil and gas producers, but it won’t take long before those problems are turned into opportunities for other businesses, according to industry executives.
California Plans for Long-Term Nuclear Plant Loss
California’s electricity grid operator last week indicated it was making plans for a long-term loss of the 2,200 MW San Onofre Nuclear Generating Station (Songs), which is now in its eighth month out of service with no prospects for a resumption of operations.
Appeals Panel Overturns Selection of Maine Gas Pipeline Proposal
A special state appeal panel has invalidated the selection by Maine’s Bureau of General Services (BGS) of a proposal by Maine Natural Gas (MNG) to build an 80-mile-long natural gas pipeline to the state capital, Augusta, and the surrounding Kennebec Valley.
