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Targa Resources Partners LP has made an anchor commitment to DCP Midstream LLC’s Sandhills Pipeline, DCP said Monday. The long-term agreements provide for an interconnection of Sandhills to a new delivery point with Targa’s Cedar Bayou Fractionators LP facility at Mont Belvieu, TX.

Range Resources Corp. and a shale-rich township in southwestern Pennsylvania will enter mediation to resolve their difficulties.

The first well drilled by Magnum Hunter Resources Corp. into the northwestern West Virginia portion of the Marcellus Shale tested at an initial production (IP) rate of 7.0 MMcfe/d and was producing as of Dec. 22 into the recently completed Eureka Hunter Pipeline system, the company said.

Magnum Hunter Resources Corp. said Friday it plans to fund construction of a 200 MMcf/d capacity cryogenic natural gas processing plant to serve shale gas producers in the West Virginia portion of the Marcellus Shale.

EXCO Resources Inc. CEO Douglas Miller has proposed a buyout of the company at $20.50/share cash, the Dallas-based natural gas-focused exploration and production company said Monday. Oilman T. Boone Pickens as well as two investment firms are said to be in on the offer, which is worth $4.36 billion.

The good news is that the outlook for the industrial sector has turned to “gradual recovery;” however, natural gas will likely be late to the party as any rebound in the top four gas-consuming sectors will not be as brisk, according to analysts at Barclays Capital.

The good news is that the outlook for the industrial sector has turned to “gradual recovery;” however, natural gas will likely be late to the party as any rebound in the top four gas-consuming sectors will not be as brisk, according to analysts at Barclays Capital.

Berry Petroleum Co. agreed to sell its East Texas gas gathering system to a private party for $18.5 million in cash. As part of the transaction, which is expected to close in June, Berry plans to enter into a concurrent long-term gas gathering agreement for its East Texas production. In addition, the board of directors has authorized a $32 million increase to its 2009 capital budget to $132 million.

Two weeks after an explosion and fire on a third-party pipeline shut in their natural gas processing complex in East Texas, DCP Midstream LLC and its master limited partnership DCP Midstream Partners LP said that they have partially restarted operations.