Region

Continuing on its property tear in the region, XTO Energy Inc. announced that it has entered into a definitive agreement with Denver-based Markwest Hydrocarbon Inc. to acquire coal bed methane and natural gas producing properties located in the San Juan Basin of New Mexico and Colorado for $60.5 million.

Williams sold a small package of Rocky Mountain region producing properties in the Denver-Julesberg (D-J) basin in northeastern Colorado to Bridgeport, WV-based Petroleum Development Corp. for $28 million. The D-J Basin properties were among those announced for sale earlier this year as part of Williams’ financial-strengthening plan.

The pipeline constrained Rocky Mountain region is less than a month away from getting a major new pipeline expansion, and one other large expansion project is making progress and should be filed with FERC in the next few months, according to company officials.

The pipeline constrained Rocky Mountain region is less than a month away from getting a major new pipeline expansion, and one other large expansion project is making progress and should be filed with FERC in the next few months, according to company officials.

Appalachian gas processing company MarkWest Energy Partners LP (MWE) plans to make a footprint in the Southwest region by purchasing Pinnacle Natural Gas Co. and affiliates from Energy Spectrum Partners LP for about $38 million. The deal gives MarkWest three Texas natural gas pipelines, transporting about 1.1 Bcf/d to several power plants, and 18 gas gathering systems, gathering about 44 MMcf/d. The transaction is expected to close March 28.

Appalachian gas processing company MarkWest Energy Partners LP (MWE) plans to make a footprint in the Southwest region by purchasing Pinnacle Natural Gas Co. and affiliates from Energy Spectrum Partners LP for about $38 million. The deal gives MarkWest three Texas natural gas pipelines, transporting about 1.1 Bcf/d to several power plants, and 18 gas gathering systems, gathering about 44 MMcf/d. The transaction is expected to close March 28.

ISO New England Inc. last Thursday said that its new standard market design (SMD) for the region will become operational on March 1, 2003. The move follows failed pleas by Connecticut’s attorney general that the grid operator delay implementation of the SMD proposal out of concern that it will spike electric rates in the state.

With the Kern River 2003 pipeline expansion set to add 900 MMcf/d of gas transportation capacity out of the Rocky Mountain region this fall, other upstream pipelines are expecting producers to begin searching for ways to bring their growing production to Opal, WY, where Kern begins its 900-mile route to Southern California.

With the Kern River 2003 pipeline expansion set to add 900 MMcf/d of gas transportation capacity out of the Rocky Mountain region this fall, other upstream pipelines are expecting producers to begin searching for ways to bring their growing production to Opal, WY, where Kern begins its 900-mile route to Southern California.