Placing

With non-strategic assets sales behind it, The Woodlands, TX-based Newfield Exploration Co. is focusing on multiple oil and liquids-rich projects and is placing particular emphasis on drilling longer laterals.

Market conditions and technology are on target for U.S. natural gas to compete in world markets, and industry watchers are placing their bets on which natural gas export proposals will actually be built and whether the first liquefied natural gas (LNG) exports will leave U.S. shores by 2015 or 2016.

Market conditions and technology are on target for U.S. natural gas to compete in world markets, and industry watchers are placing their bets on which natural gas export proposals will actually be built and whether the first liquefied natural gas (LNG) exports will leave U.S. shores by 2015 or 2016.

Cheniere Energy Partners LP has struck commitments for $3.4 billion to fund the costs of developing, constructing and placing into service the first two liquefaction trains of the Sabine Pass LNG liquefaction project, it said. Sabine Pass Liquefaction is finalizing definitive loan documents with lenders and is working on commitments of about $200 million with additional institutions. The credit facility is expected to be closed by the end of the month. “Including the recently announced $2 billion of equity commitments [see Daily GPI, May 25], we have now received financial commitments of approximately $5.4 billion for the construction of trains 1 and 2 of our liquefaction project,” said CEO Charif Souki. “Our ability to access a very large credit facility will significantly reduce our costs of financing during construction. We expect to reach a final investment decision and issue notice to proceed to Bechtel upon meeting all conditions precedent under the financial agreements…” Sabine Pass is the only proposed U.S. liquefaction project to have been granted authority to export to non-free trade agreement countries (see Daily GPI, April 17).

Encana Corp. is placing a $600 million bet this year that a transition to more oil and liquids-rich production will help sustain the company until natural gas prices strengthen, CEO Randy Eresman said last week.

Encana Corp. is placing a $600 million bet this year that a transition to more oil and liquids-rich production will help sustain the company until natural gas prices strengthen, CEO Randy Eresman said Thursday.

An online petition calling on Quebec Premier Jean Charest to resign for not placing a moratorium on shale gas development in the province, among other things, had surpassed more than 224,000 signatures as of Monday afternoon.

FERC on Friday granted to Cheniere Energy subsidiary Corpus Christi LNG an extension of time for constructing and placing into interstate service its liquefied natural gas (LNG) terminal and associated pipeline facilities near Corpus Christi, TX.

FERC on Friday granted to Cheniere Energy subsidiary Corpus Christi LNG an extension of time for constructing and placing into interstate service its liquefied natural gas (LNG) terminal and associated pipeline facilities near Corpus Christi, TX.