Two transactions completed late in 2011 have helped Chesapeake Energy Corp. achieve “substantial progress” toward a goal of reducing debt by 25% by the end of this year, the company said Tuesday.
Progress
Articles from Progress
New York Should Get Fracking on Deficit, Some Say
Former New York Gov. George Pataki said Thursday he supports shale gas and hydraulic fracturing (fracking) in the Empire State’s portion of the Marcellus Shale, calling its development “the right thing to do.”
Atlas Pipeline Partners Awaits Expansion Projects
Atlas Pipeline Partners LP (APL) is making progress on several expansion projects but continues to exceed processing capacities and offload production to third-party plants, the Atlas Energy Inc. affiliate said.
Atlas Pipeline Partners Awaits Expansion Projects
Atlas Pipeline Partners LP (APL) is making progress on several expansion projects but continues to exceed processing capacities and offload production to third-party plants, the Atlas Energy Inc. affiliate said Tuesday.
Industry Briefs
Kinder Morgan Energy Partners LP (KMP) has agreed to acquire SouthTex Treaters, a manufacturer, designer and fabricator of natural gas treating plants that remove carbon dioxide and hydrogen sulfide, for about $155 million. The manufactured amine plants range in size from five to 1,200 gallons per minute of treating capacity. Kinder Morgan Treating, a subsidiary of KMP, is a large provider of contract-operated treating and hydrocarbon dew point conditioning plants. “This acquisition will enable us to provide large amine plants for centralized treating facilities, which are often needed in the rapidly developing shale plays,” said Bill Stokes, vice president of Kinder Morgan Treating. “We will also be able to replenish our already large inventory of amine plants and offer our customers even more flexibility for their treating needs.” Closing is expected during the fourth quarter.
Pennsylvania Marcellus Employment Doubles Since 2008
Employment in the core industries that drive Marcellus Shale development in Pennsylvania more than doubled to 20,837 people between 2008 and 2011, while employment in ancillary industries dropped by around 1% to 193,813, according the Center for Workforce Information and Analysis (CWIA) at the Pennsylvania Department of Labor and Industry.
West Virginia Panel Keeps $10K Permit Fee Intact
A committee of West Virginia lawmakers made little progress this week toward settling the remaining obstacles to a Marcellus Shale regulatory reform bill, instead using their time to debate — but ultimately leave unchanged — a steep increase in permitting fees.
Marcellus Commission Report Gets Mixed Reviews
Early reaction to the Marcellus Shale Advisory Commission’s (MSAC) final report is mixed, with environmental groups praising some recommendations while criticizing omissions, industry promising cooperation and lawmakers offering a skeptical shrug.
Enbridge Expanding East Texas System for Haynesville Production
Enbridge Energy Partners LP (EEP) plans to invest $175 million to expand its East Texas system to provide gathering, treating and transmission services for several major gas producers on the Texas side of the Haynesville Shale, the Houston-based partnership said Thursday.
CenterPoint Revs Up Field Services As Projects Advance
CenterPoint Energy Inc. reported Tuesday that progress was being made on several infrastructure projects, with more under consideration in its field services division, and the company could consider a master limited partnership (MLP) for the midstream to help finance future expansion.