Operator

FERC Tuesday gave the go-ahead for UGI LNG Inc., a subsidiary of Pennsylvania midstream operator UGI Energy Services Inc., to place into service the expansion of its Temple liquefied natural gas (LNG) storage facility in Berks County, PA.

IntercontinentalExchange (ICE), an Atlanta-based operator of regulated futures exchanges and over-the-counter (OTC) markets, said Monday that all cleared OTC products listed on its OTC energy market will be transitioned to futures products in January. These products will continue to be traded on the ICE trading platform and cleared at ICE Clear Europe, which in 2010 was approved as a derivatives clearing organization by the Commodity Futures Trading Commission (CFTC).

Ten years ago the Permian Basin, first drilled nearly a century ago, was considered passe for oil and gas exploration. Today, however, a new generation of explorers and midstream operators has made the basin one of the hottest tickets on the reservoir circuit and there are no signs that the lights will be dimming anytime soon.

Williams Partners and Williams said Monday the partnership plans to acquire Williams’ 83.3% interest in an olefins production facility in Geismar, LA. The partnership also would become the operator of the plant.

Just days after a town in western New York adopted a one-year moratorium on oil and natural gas activities, the town’s only operator made a rare move and decided to shut down its wells and pipelines there, halting royalty payments and free natural gas to landowners.

Pennsylvania midstream operator UGI Energy Services Inc. on Wednesday launched plans to replace the diesel now powering its Marcellus Shale drilling fleet with liquefied natural gas (LNG). UGI’s plan mirrors a pilot initiated by EQT Corp. earlier this month to convert its Marcellus diesel rigs (see Shale Daily, July 6).

Just days after a town in western New York adopted a one-year moratorium on oil and natural gas activities, the town’s only operator made a rare move and decided to shut down its wells and pipelines there, halting royalty payments and free natural gas to landowners.

Private hedge fund operator Third Point LLC, which is run by activist investor Daniel Loeb, listed Chesapeake Energy Corp. as one of the fund’s largest new holdings in a June exposure report to investors, according to several market followers.

Global oilfield services operator Tenaris SA plans to invest an estimated $1.5 billion in the United States to expand onshore and offshore services, the company said Thursday.