TransCanada Corp. CEO Hal Kvisle stressed the stability of existing Western Canadian gas production and the promise of new supply from the Mackenzie Delta and Alaska in announcing the completion of its purchase of Gas Transmission Northwest Corp. (GTNC) from National Energy & Gas Transmission Inc. (NEGT) for US$1.7 billion, including US$500 million of assumed debt.
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Pioneer Natural Resources and Dominion Resources announced that production from the Devils Tower field has returned to pre-Hurricane Ivan levels. Three wells are currently producing 28,000 boe/d on a gross basis, and a fourth well is expected to be producing by the end of November. Eight wells have been drilled to develop the field, but damage to the platform rig delayed completion activities related to the four remaining wells. However, the timeframe for resuming completion activities has improved, with potential for continued field development to begin by year end, the companies said. The financial impact of these delays is mitigated by business interruption insurance coverage that is designed to restore the expected cash flow from the project after a waiting period that ended on Nov. 1. Pioneer holds a 25% working interest in Devils Tower. Dominion operates the field with a 75% working interest. The field is located about 140 miles southeast of New Orleans on Mississippi Canyon block 773 in the deepwater Gulf of Mexico.
Industry Briefs
Pioneer Natural Resources and Dominion Resources announced that production from the Devils Tower field has returned to pre-Hurricane Ivan levels. Three wells are currently producing 28,000 boe/d on a gross basis, and a fourth well is expected to be producing by the end of November. Eight wells have been drilled to develop the field, but damage to the platform rig delayed completion activities related to the four remaining wells. However, the timeframe for resuming completion activities has improved, with potential for continued field development to begin by year end, the companies said. The financial impact of these delays is mitigated by business interruption insurance coverage that is designed to restore the expected cash flow from the project after a waiting period that ended on Nov. 1. Pioneer holds a 25% working interest in Devils Tower. Dominion operates the field with a 75% working interest. The field is located about 140 miles southeast of New Orleans on Mississippi Canyon block 773 in the deepwater Gulf of Mexico.
Industry Briefs
Pioneer Natural Resources and Dominion Resources announced that production from the Devils Tower field has returned to pre-Hurricane Ivan levels. Three wells are currently producing 28,000 boe/d on a gross basis, and a fourth well is expected to be producing by the end of November. Eight wells have been drilled to develop the field, but damage to the platform rig delayed completion activities related to the four remaining wells. However, the timeframe for resuming completion activities has improved, with potential for continued field development to begin by year end, the companies said. The financial impact of these delays is mitigated by business interruption insurance coverage that is designed to restore the expected cash flow from the project after a waiting period that ended on Nov. 1. Pioneer holds a 25% working interest in Devils Tower. Dominion operates the field with a 75% working interest. The field is located about 140 miles southeast of New Orleans on Mississippi Canyon block 773 in the deepwater Gulf of Mexico.
TransCanada Adds Two Major U.S. Pipelines to Its Asset Base
TransCanada Corp. CEO Hal Kvisle stressed the stability of existing Western Canadian gas production and the promise of new supply from the Mackenzie Delta and Alaska in announcing the completion of its purchase of Gas Transmission Northwest Corp. (GTNC) from National Energy & Gas Transmission Inc. for US$1.7 billion, including US$500 million of assumed debt.
TransCanada Adds Two Major U.S. Pipelines to Its Asset Base
TransCanada Corp. CEO Hal Kvisle stressed the stability of existing Western Canadian gas production and the promise of new supply from the Mackenzie Delta and Alaska in announcing the completion of its purchase of Gas Transmission Northwest Corp. (GTNC) from National Energy & Gas Transmission Inc. for US$1.7 billion, including US$500 million of assumed debt.
Industry Briefs
MarkWest Hydrocarbon executed agreements with Equitable Production that restructures their processing relationship in Appalachia. The new agreements provide Equitable with additional flexibility in its gathering operations upstream of the MarkWest Energy Partners LP processing facilities, and provide Equitable with assurances of continued processing capacity and operations. The new agreements also protect MarkWest Hydrocarbon during periods of low processing margins. Terms of the deal were not disclosed.
TransColorado Tests Market for 300,000 Dth/d Northbound Expansion
Increasing Piceance Basin production in Colorado and new takeaway capacity out of the Rockies to Midwestern markets have prompted TransColorado Gas Transmission to test market interest in a 300,000 Dth/d expansion of its system.
TransColorado Test Market for 300,000 Dth/d Northbound Expansion
Increasing Piceance Basin production in Colorado and new takeaway capacity out of the Rockies to Midwestern markets have prompted TransColorado Gas Transmission to test market interest in a 300,000 Dth/d expansion of its system.
Energy Consultants Join Forces to Expand Resources
IHS Energy, which specializes in analyzing energy exploration and production (E&P) data around the world, has acquired Cambridge Energy Research Associates (CERA), whose analysis covers energy markets, geopolitics, structure and strategy. The partnership, said the IHS Group subsidiary, will build on the companies’ joint resources to expand their database and operations support. No financial details were disclosed.