Reporting more than a billion dollars in profits last year, Sempra Energy senior executives last Friday forecast continued growth in the company’s utility and non-utility operations in California and Mexico while minimizing the potential for financial fallout from a recently sealed natural gas storage well leak in Southern California.
Articles from Reed
San Diego-based Sempra Energy senior officials said Tuesday they are moving ahead on plans for expanding liquefied natural gas (LNG) exports from the Gulf Coast and building more infrastructure in Mexico. But previous plans for creating a master limited partnership (MLP) around some of the company’s profitable assets (see Daily GPI,June 17) have been put on hold due to unfavorable market conditions.
The global oil price crash has not diminished Mexico’s thirst for investment in energy infrastructure, particularly natural gas projects, according to San Diego-based Sempra Energy’s top executives, who are all-in south of the border through a Mexican-based subsidiary.
Sempra Energy plans to continue to seek a variety of energy development projects in Mexico, given the federal government reforms now unfolding there (see Daily GPI, Aug. 7). The San Diego, CA-based holding company has a well-established foothold south of the border, CEO Debra Reed told financial analysts Thursday.
With its 25% interest and upcoming expansions, the Rockies Express (REX) pipeline could make sweet music for Sempra Energy senior executives who are hoping to transform the pipeline’s expanding assets into value added for their U.S. midstream gas infrastructure and liquefied natural gas (LNG) export projects.
Liquefied natural gas (LNG) export projects from the Gulf of Mexico (GOM) region could lead to a resurgence in gas storage, and Sempra Energy executives see some signs that it’s starting to happen.
Tengasco, Inc. announced Friday it has completed drilling on the Paul Reed No. 9 well in the Swan Creek field in Hancock County, TN. Completed as a natural gas well, Tengasco said the 4,860-foot well has been connected to the company’s pipeline and is currently producing 400 Mcf/d.