River

The backer of a liquefied natural gas (LNG) receiving terminal on Oregon’s Columbia River said it will cost $4/MMBtu to land LNG on the West Coast. The gas supply will be more than welcomed by the market, according to speakers at an industry conference.

Ultra Petroleum, one of the star producers of natural gas in the Green River Basin, reported a record 63% increase in its Wyoming gas production for 2Q2007. Combined gas and crude oil production volume was up 57%, totaling 30.5 Bcfe, from 19.5 Bcfe in 2Q2006, and output in the first six months jumped to 59 Bcfe, up 49% from the first half of 2006. The gains led the Houston-based producer to increase its full-year 2007 production outlook.

Ultra Petroleum, one of the star producers of natural gas in the Green River Basin, reported a record 63% increase in its Wyoming gas production for 2Q2007. Combined gas and crude oil production volume was up 57%, totaling 30.5 Bcfe, from 19.5 Bcfe in 2Q2006, and output in the first six months jumped to 59 Bcfe, up 49% from the first half of 2006. The gains led the Houston-based producer to increase its full-year 2007 production outlook.

Kern River and CIG were left out of lower prices that pervaded the rest of the April-ending cash market Friday. Weak weather fundamentals, the 18.1-cent expiration-day fall by May futures and the hiatus of industrial load over a weekend caused all other points to record declines ranging from 2-3 cents to about 45 cents.

With the Green River Basin of southwestern Wyoming providing the fuel, Ultra Petroleum Corp. Friday reported its largest three-month production numbers in history, with 1Q2007 output soaring 42% to a record 28.5 Bcfe from a year ago. Production on the Wyoming acreage alone increased more than 50%.

With the Green River Basin of southwestern Wyoming providing the fuel, Ultra Petroleum Corp. Friday reported its largest three-month production numbers in history, with 1Q2007 output soaring 42% to a record 28.5 Bcfe from a year ago. Production on the Wyoming acreage alone increased more than 50%.

High line pack exists on Kern River’s entire system. Shippers and operators were asked by the pipeline Monday to stay on rate.

Kinder Morgan Energy Partners LP (KMP) late Wednesday said it sold its Powder River Gathering System and the Painter Unit fractionation facility in Wyoming to Momentum Energy Group LLC for approximately $43 million in cash. The parties also executed a long-term processing agreement at KMP’s Douglas processing plant. Proceeds from the sale will be used to pay down debt. KMP management said the assets were not core to the company’s strategy, which is operating transportation pipelines and terminals. KMP owns or operates more than 27,000 miles of pipelines and approximately 145 terminals. Its pipelines transport more than 2 million bbl/d of gasoline and other petroleum products and up to 9 Bcf/d of natural gas.

FERC on Wednesday gave Transwestern Pipeline the go-ahead to sell its East of Canadian River (ECR) pipeline facilities to a Dallas, TX-based midstream company for an undisclosed amount.