Lured by liquids-rich natural gas and growth prospects, Topaz Energy Corp. has snagged a share in Tourmaline Oil Corp.’s production from the Montney Shale in northeastern British Columbia (BC) for C$145 million ($116 million). The deal announced Thursday gives Topaz 4% royalty interests in gas and 2.5% in liquids tapped by larger player Tourmaline Oil…
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Williams, Crowheart JV Eyes Increased Natural Gas Production in Wyoming’s Green River Basin
With an eye on increased development activity in Wyoming’s Wamsutter field, Williams is teaming with Denver-based Crowheart Energy in a joint venture (JV) that consolidates more than 1.2 million net acres across the tight natural gas reservoir. The tie-up combines the legacy Crowheart, BP plc and Southland Royalty Co. LLC upstream assets into one contiguous…
Antero Warns of Winter Propane Shortages Without Adequate Stock Builds
Executives at Appalachian pure-play Antero Resources Corp., the nation’s second largest natural gas liquids (NGL) producer, are warning that without an adequate build in propane inventories through the fall, the world would be undersupplied this winter. “U.S. domestic propane buyers will need to outbid export markets this summer to build sufficient inventories for this upcoming…
Whitecap Returns to Profitability on Canada Oil, Gas Acquisitions and Higher Prices
Improved prices for increased oil, natural gas and liquids volumes, achieved in part on corporate takeovers, fueled a return to profitability by Canadian producer Whitecap Resources Inc. in the first three months of this year. Whitecap oil production volumes grew year/year to 64,795 b/d from 56,631 b/d, with natural gas volumes hitting 129 MMcf/d from…
Increased Ethane Supply Said Crucial to Mexico’s Petchem Sector
Mexico’s petrochemicals sector has suffered from underinvestment and the prioritization of crude oil production by state oil company Petróleos Mexicanos (Pemex), according to a new issue brief published by Rice University’s Baker Institute for Public Policy. These factors have led to a steady decrease over the last decade in Pemex’s production of ethane and ethane…
Phillips 66 Completes NGL Upgrades at Sweeny Hub Serving Permian, Eagle Ford Operators
Phillips 66 has completed a $1.4 billion infrastructure upgrade near its Houston Ship Channel facilities to serve the Permian Shale and Eagle Ford Shale. Houston-based Phillips 66 management said operations have begun on two natural gas liquids (NGL) fractionation plants at its Sweeny Hub in Old Ocean, TX, south of Houston. With a combined capacity…
Enterprise Exports Lower 48’s First Co-Loaded NGL Cargoes from Houston Ship Channel
In a first for the U.S. midstream industry, Enterprise Products Partners LP (EPD) this month loaded combination cargoes of natural gas liquids (NGL) and olefins on the same vessel. The Houston-based operator said it completed the simultaneous loading of propane and polymer grade propylene into separate compartments on a very large gas carrier at its…
U.S. Said Trending to Produce More Oil, Liquids than Saudis and Russia Combined by 2025
The United States is set to produce more oil and liquids than Russia and Saudi Arabia combined by 2025, according to an analysis by Rystad Energy.
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Enterprise Converting Portion of Natural Gas Line to Y-Grade to Boost Gulf Coast Capacity
Given persistently tight fractionation capacity along the Gulf Coast, Enterprise Products Partners LP plans to optimize the Shoup fractionator in Nueces County by expanding and repurposing a portion of its South Texas natural gas pipeline system, the company said Tuesday.
West Virginia Joins International Energy Coalition
West Virginia has been accepted as the 14th member of the Energy Council, an international nonpartisan legislative organization whose members are focused on a wide variety of energy-related issues.