The Alaska Department of Natural Resources will hold its annual North Slope, Beaufort Sea and North Slope Foothills areawide oil and gas leasesales on Wednesday, Nov. 19. Bid opening will begin at 9 a.m. local time at the Dena’ina Civic and Convention Center in Anchorage. The total lease area encompasses 14 million acres. Bidding methods, minimum bids and lease terms remain the same as northern Alaska areawide lease sales held from 2011 to 2013 (see Daily GPI,Nov. 7, 2013). The North Slope and Beaufort Sea sale areas continue to include terms and conditions to incentivize exploration of tracts adjacent to federal lands, which include the National Petroleum Reserve-Alaska and the Arctic National Wildlife Refuge. “The results from the past three sales show that investors have continued interest in obtaining new state oil and gas leases for exploration in northern Alaska,” said Bill Barron, director of the Division of Oil and Gas. Bidders must be qualified by Nov. 14 and bids must be received no later than Nov. 17.
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Industry Brief
Navigator Energy Services LLC said that after a successful open season, its Big Spring Gateway (BSG) system is expected to begin service during 2H2015. The company said BGS will include about 125 miles of new crude oil transportation pipelines, truck injection stations located in Texas’s Martin, Howard and Glasscock counties, and about 200,000 bbl of operational storage. BSG will have an initial design capacity of up to 85,000 boe/d and is expected to deliver shipper crude oil into the BridgeTex Pipeline and pipelines operated by Sunoco Logistics near Colorado City, TX. Aggregate pipeline takeaway capacity from BSG’s interconnections will be about 900,000 boe/d. Spot shippers interested in transporting crude on BSG should contact Matt Vining, (214) 880-6001, mvining@navigatorenergyservices.com.
East Weakness Tempered by Steady West; Futures Manage a Gain
Physical natural gas for Friday delivery was mostly lower in Thursday’s trading with losses at eastern points offset by moderate changes within a cent or two of unchanged in the Great Lakes, Rockies and California. New England proved to be the day’s biggest loser, suffering triple-digit losses as temperatures were forecast to return to normal. Overall, the physical market shed 3 cents.
Futures Give Downward Nod Following EIA Storage Report
Natural gas futures dropped following the release of government storage figures that were about what traders had been expecting.
Colorado Task Force to Meet, But One City Balking
With backdrop of a defiant city council in Fort Collins, CO, the governor’s statewide task force will sit down for the first time Thursday in Denver to begin to develop bipartisan legislative proposals to foster cooperation between local governments and the oil and gas industry.
Ohio-Based Sand Proppant Provider Readies IPO
Ohio-based Fairmount Santrol, which provides proppant products, including sand and sand-based services to exploration and production companies, is planning to raise up to $1.07 billion through a public offering, the company said in a filing Monday.
Shale Development in New Brunswick Suffers Setback with Liberal Win
In a setback for shale development in New Brunswick, voters returned the Liberal party to power in the Canadian province and sent the pro-shale Progressive Conservative (PC) party to defeat. The election was marred by problems with vote tabulation machines.
Alberta Seeing Benefits of North American NatGas Competition
Canadian and U.S. pipeliners have won an unexpected ally for their plans to expand the northbound freeway for natural gas from the eastern United States — the Alberta government.
Wyoming NatGas Storage Tank Fire Kills One, Injures Three
EOG Resources Inc. said a flash fire in one of its natural gas storage tanks in western Wyoming during maintenance operations on Tuesday afternoon has resulted in the death of one worker and injuries to three others. The incident, first reported as an explosion, occurred in a desert region about 30 miles northwest of Green River, WY.
NGP-Backed Bravo Buys Arkoma Reserves, Wells
Tulsa-based private Bravo Natural Resources LLC is spending $250 million to buy a batch of natural gas-heavy Arkoma Basin reserves and operating wells in southeastern Oklahoma.
