The Appalachian Basin is still a puzzle, but there is no lack of enthusiasm for those trying to solve all the value it may hold.
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Industry Brief
Southern Star Central Gas Pipeline Inc. is holding a binding open season through May 7 for incremental firm service from existing/new receipt points to existing/new delivery points to serve markets that include Colorado, Texas, Oklahoma, Kansas, Missouri and Arkansas. The proposed expansion “further offers shippers impacted by this past winter an opportunity to mitigate future capacity shortfalls,” the pipeline said. Southern Star is also interested in receiving nonbinding bids for capacity. Contact Philip Rullman (270) 852-4440; Jim Neukam, (270) 852-4665; or Pat Coomes, (270) 852-4552; or visit the pipeline’s website.
Low-Priced Gas Pushes PECO to More Than 500,000 Customers
Thanks to low natural gas prices, Philadelphia-based PECO said Wednesday its natural gas supply business has ballooned to more than 500,000 customers in southeastern Pennsylvania.
Resurgence in U.S. Methanol Expansions Underway, Says CEO
Fueled by inexpensive, abundant domestic natural gas supplies, the return of methanol production to North America will continue with additional expansions planned on the Gulf Coast, according to the CEO at the world’s biggest methanol producer, Methanex Corp., headquartered in British Columbia.
Cash Market on Balance Steady, but Futures Continue Higher
Physical natural gas for Thursday delivery overall moved little in Wednesday’s trading. Market strength in the Gulf, Rockies and California was easily able to balance out the double-digit losses at New England points, while Mid-Atlantic locations softened and Appalachia was mixed.
Industry Briefs
Outrigger Energy LLC is expanding its midstream capabilities in the Permian Basin of Texas with the addition of a natural gas gathering and processing, and crude oil gathering system. Outrigger plans to construct, own and operate the system, initially located in Howard, Borden and Martin counties, and anchored by long-term acreage dedications from independent producer Tall City Exploration. The system would include more than 120 miles of gas gathering lines, 75 miles of crude oil gathering lines and related wellhead/measurement facilities. It would also include a 30-mile raw gas gathering header feeding a gas processing facility in Martin County and, initially, three field compressor stations. Outrigger would provide customers on the system with access to multiple takeaway pipelines for gas, liquids and crude oil, with the oil system also providing access to local markets. Initial deliveries are expected to begin during the fourth quarter.
Regulators Ponder Individual NatGas Trader Rights in Corporate Settlements
They’ve agreed to work out jurisdictional gray areas in connection with market surveillance and investigations, but there are still differences in FERC and the Commodity Futures Trading Commission’s (CFTC) approaches to enforcement, according to officials from the two agencies and an attorney who has represented defendants in enforcement proceedings.
Gulfport Output Appears in Line with Guidance
Gulfport Energy Corp. reported Wednesday it expects production in 1Q2014 averaged 27,100 boe/d, in line with guidance, and more than half weighted to natural gas.
Futures Off as On-Target EIA Stats Not Enough For The Bulls
Physical gas for Friday delivery plunged at all market points in Thursday’s trading with losses ranging from about a quarter to multiple dollars.
People
Bismarck, ND-based MDU Resources Group Inc. named John Stumpf senior vice president for development and midstream operations at its natural gas pipeline and services unit, WBI Energy Inc., effective April 1. Stumpf has been MDU’s vice president for strategic planning. In his new position, Stumpf will help develop and implement growth opportunities around midstream operations concentrated in the Bakken Formation in North Dakota at the Dakota Prairie Refining and Proghorn gas processing plants in which MDU holds interests. Stumpf joined MDU in its construction materials unit, Knife River Corp., in 1993.