Citing growing oil production from shale plays, Enterprise Products Partners LP and Enbridge Inc. said Thursday they plan to construct a pipeline to transport crude oil from the oversupplied hub at Cushing, OK, to the Texas Gulf Coast refining complex. Enterprise recently scrapped plans to pursue a similar project with a different partner.
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S&P Downgrades Northern Border to ‘BBB+’ Rating
Standard & Poor’s (S&P) Ratings Services said Tuesday it was downgrading the credit rating of Northern Border Pipeline Co. (NBPL) from “A-” to “BBB+,” citing an oversupply of natural gas in the Midwest and concerns over expiring transportation contracts.
Bentek CEO: Shale Overproduction to Dampen Demand, Prices
With the boom in shale gas production, an oversupply of natural gas is likely to outstrip demand for the fuel and keep prices under the $5 level, Colorado-based Bentek CEO Porter Bennett told the gas committee Monday at the summer meeting of the National Association of Regulatory Utility Commissioners (NARUC) in Los Angeles.
North American Shales Still Driving Acquisitions, Says Report
Driven by North America’s shales, global merger and acquisition (M&A) transactions within the exploration and production (E&P) sector climbed to $45 billion in the first three months of the year, Evaluate Energy said Tuesday.
Slight Uptick in Gas Drilling Raises Concerns
An oversupply of domestic natural gas this year is “nearly a foregone conclusion,” but the uptick in gas drilling rigs earlier this month may signal a new battle on whether U.S. producers can reset the supply/demand balance in 2010, Barclays Capital analysts said in a report Tuesday.
Slight Uptick in Gas Drilling a Concern, Says Barclays
An oversupply of domestic natural gas this year is “nearly a foregone conclusion,” but the uptick in gas drilling rigs last week may begin a new battle on whether U.S. producers can reset the supply/demand balance in 2010, Barclays Capital analysts said in a report Tuesday.
Raymond James: $7/Mcf ‘Easily Breached’ in ’09 Unless Rig Count Cut
Hurricanes Gustav and Ike likely prevented voluntary natural gas production shut-ins as summer wound down, but oversupply concerns should keep gas prices depressed through 2009, and a soft floor of around $7/Mcf “could easily be breached” if the rig count isn’t severely cut, Raymond James & Associates Inc. energy analysts predicted.
Consultant: East Coast LNG Terminals to Go Wanting
The East Coast of North America is faced with a significant oversupply of liquefied natural gas (LNG) import capacity that will persist well into the next decade, according to a consultant’s analysis.
Consultant: East Coast LNG Terminals to Go Wanting
The East Coast of North America is faced with a significant oversupply of liquefied natural gas (LNG) import capacity that will persist well into the next decade, according to a consultant’s analysis.
Transportation Notes
Citing a high rate of unconfirmed transactions at Uinta Lateral delivery points, CIG said it has recently experienced a critical oversupply situation on that portion of its system, resulting in higher than appropriate mainline pressures that “have created problems receiving scheduled quantities of gas from the attached production areas.” In response, CIG declared a Strained Operating Condition for the Uinta and Parachute laterals that took effect Friday until further notice. See the bulletin board for SOC conditions.