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Copano Energy LLC and Magellan Midstream Partners LP have formed of a joint venture (JV) to deliver Eagle Ford Shale condensate to Corpus Christi, TX. The JV’s project will make use of new and existing pipeline infrastructure.

Elected officials in Cecil Township, PA, voted unanimously on Monday to adopt changes to two of its ordinances governing Marcellus Shale development but are still waiting to hear if Range Resources Corp. will drop a lawsuit it filed against them in October over the changes.

ConocoPhillips, which is readying a spinoff of its refinery operations to reemerge as the largest pure-play explorer in North America, is planning to spend $15.5 billion for its capital program in 2012 and repurchase up to $10 billion more of its common stock.

SemGroup Corp. and Exterran Holdings Inc. are developing a gas processing plant for SemGas LP to service growing midstream services demand in the Mississippi play. SemGas has agreed to buy the new gas processing plant and associated compression equipment. It is expected that the plant will be designed and fabricated by Exterran to handle a throughput of 60 MMcf/d and will feature cryogenic technology for natural gas liquid extraction and enhanced ethane recovery. Exterran offers pre-engineered processing plants in quantities of 60, 150 and 200 MMcf/d nominal capacity.

ConocoPhillips, which is spinning off its refinery assets to create a pure-play explorer, has agreed to sell its interests in two U.S. pipeline companies for a total of $2 billion. An agreement with a subsidiary of Caisse de depot et placement du Quebec is for a 16.55% stake in Colonial Pipeline Co. and Colonial Ventures LLC; the transaction is to close in 1Q2012. Definitive agreements also were reached with Enbridge Holdings (Seaway) LLC for a stake in Seaway Crude Pipeline Co., which is to close in December. Once closed, these transactions, along with sales already closed in 4Q2011, would total close to $10.5 billion by the end of 2012.

ConocoPhillips, which is repositioning itself as a pure-play exploration and production (E&P) company, said its spun-off downstream company is to be named Phillips 66 and will house the refining, marketing, midstream and chemicals businesses. The repositioning is expected to be completed in 2Q2012; ConocoPhillips plans to file preliminary paperwork within the next week (see Daily GPI, Oct. 27). Both companies would be headquartered in Houston but would maintain a “significant” presence in Oklahoma, where the predecessor company was founded. Bartlesville, OK, is to be the global center for Phillips 66 technology, as well as the site of transaction services organizations for both companies. The ConocoPhillips E&P technology organization would remain in Houston.

The shale rocks that are reconfiguring the North American energy landscape eventually will be unearthed around the world, albeit at a much slower pace, but the economic impacts will be gigantic, an ExxonMobil Corp. executive said Tuesday.

EXCO Resources Inc. CEO Doug Miller said the decision by BG Group plc — its joint venture (JV) partner in the Marcellus Shale and the Haynesville/Bossier shale play in Louisiana and Texas — to participate in liquefied natural gas (LNG) exports would have little effect on EXCO’s business.

EXCO Resources Inc. CEO Doug Miller said the decision by BG Group plc — its joint venture (JV) partner in the Marcellus Shale and the Haynesville/Bossier shale play in Louisiana and Texas — to participate in liquefied natural gas (LNG) exports would have little effect on EXCO’s business.