A Targa Resources Corp. unit on Thursday launched an open season to test support for natural gas liquids (NGL) pipeline transportation capacity from southern Oklahoma to the Mont Belvieu hub. Targa NGL Pipeline Co. LLC is gauging interest through Dec. 17 for capacity from a planned interconnection with upstream pipeline facilities in Oklahoma’s Stephens and…
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Montney-Focused Arc Resources Speeding Up Activity as Commodity Prices Recover
Arc Resources Ltd. swiftly accelerated Montney Shale drilling following its C$8.1 billion ($6.5 billion) takeover of Seven Generations Energy Ltd. (7G) last winter, and it’s rewarding shareholders too. The Calgary-based exploration and production (E&P) company holds a Montney-focused portfolio in Alberta and British Columbia (BC) that is weighted 60% to natural gas and 40% to…
Antero Maximizing Natural Gas Price Exposure, Citing Bullish Market Outlook
Appalachian Basin heavyweight Antero Resources Corp. is maximizing its exposure to natural gas prices heading into next year, betting on a continued bullish outlook for natural gas and natural gas liquids (NGL). Antero is “the least hedged in our company history on the natural gas side as we enter 2022,” CEO Paul Rady said during…
Pennsylvania Court Orders Release of Emails by Energy Transfer Regarding ME Pipeline
The Delaware County Court of Common Pleas in Pennsylvania last week ordered the public release of emails between Energy Transfer LP, which is expanding the Mariner East (ME) natural gas liquids (NGL) pipeline system, and officials in a county township. Since 2016 ME has carried increasing NGL volumes from processing facilities in the Marcellus and…
Energy Transfer Says Jump in Gas Prices, Strength in NGL and Refined Products Boost 2Q2021 Results
U.S. midstream giant Energy Transfer LP said its natural gas storage and pipeline operation along with its natural gas liquids (NGL) business helped drive stronger second quarter 2021 earnings. The Dallas-based company also said a newly operational expansion project is boosting its transports of oil in the current quarter. Energy Transfer, whose pipelines held up…
NGL Energy Sees Momentum Building in DJ Basin, Permian Delaware
NGL Energy Partners LP, which transports oil and also treats, recycles and disposes of water generated as part of the energy production process – said it got off to a slow start in calendar 2021 because of Winter Storm Uri and lingering effects of the pandemic. But the Tulsa-based company sees brighter days ahead with…
Crescent Point Sees Duvernay Driving Steady Improvement in 2021
Crescent Point Energy Corp. regained profitability and emerged as an unconventional natural gas producer during the first three months of this year. The Calgary producer predicted steady improvement for the rest of 2021 would result from the C$900 million ( $720 million) purchase in February of 500 square miles of liquids-rich Duvernay formation acreage from…
Enerplus Expects Bakken Production to Grow After Acquisitions
Canadian independent Enerplus Corp. reported lower year/year production for the first quarter but it is poised to resume growing output in the Bakken Shale of North Dakota following a pair of recent acquisitions. Natural gas production for the firm, which also has assets in the Marcellus Shale, dropped to 255.7MMcf/d in the first three months…
Apache Nabs $4-Plus for Permian Natural Gas, Boosted by Prescient Hedging Strategy
After fetching $4.61/Mcf for its Permian Basin natural gas in the first quarter, APA Corp. is stepping up its activity in some prospects and extending its exploration in Texas, executives said Thursday. The gassy Alpine High development in the Permian Delaware sub-basin of West Texas had been the Houston-based explorer’s No. 1 global play. As…
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…