Secured

MarkWest Utica EMG LLC, a partnership between Appalachian midstream provider MarkWest Energy Partners LP and private equity fund The Energy and Minerals Group (EMG), has secured agreements to process and transport Gulfport Energy Corp.’s growing natural gas volumes from three eastern Ohio counties between now and 2014. The partners also are expanding one Utica Shale midstream facility and building a new plant to ensure producers have enough fractionation services available.

Cheniere Energy Partners LP said it will soon launch the syndication of two new credit facilities totaling about $2 billion. The new senior secured syndicated credit facilities include $750 million at Cheniere Partners and $1.3 billion at Sabine Pass Liquefaction LLC. Proceeds from the Cheniere Energy Partners credit facility will be used to fund the acquisition of the Creole Trail Pipeline, to pay for pipeline improvement and modification costs and for other purposes. Proceeds from the Sabine Pass Liquefaction credit facility will be used to fund the costs of developing, constructing and placing into service the first two liquefaction trains of the Sabine Pass LNG liquefaction project. Closing is expected by the end of the second quarter in conjunction with the closing of equity financing and the purchase of the Creole Trail Pipeline. Cheniere Energy Partners recently announced several deals intended to fund the Sabine Pass liquefaction project (see Daily GPI, May 16).

Chesapeake Energy Corp.’s stock price jumped on Monday after the company secured a $3 billion term loan and CEO Aubrey McClendon expressed confidence in the company’s ability to complete planned property sales this year to bridge an estimated $10 billion funding gap. In addition, an estimated $1 billion volumetric production payment (VPP) in the Eagle Ford Shale has been sidelined in favor of more noncore asset sales.

Encana Corp. said Friday it has secured a well-heeled unit of Toyota Tsusho Corp. to partner in its languishing Alberta coalbed methane (CBM) gas fields in the Horseshoe Canyon Fairway, agreeing to sell close to a one-third stake in the resource play, including natural gas production from 5,500 existing wells.

Shell Canada Ltd. secured the exploration rights on four parcels in Nova Scotia’s offshore with successful bids that totaled C$970 million — the highest bids ever — the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) said Friday.

Chesapeake Energy Corp., one of the biggest deal makers in the U.S. energy patch, has secured more funding for its onshore exploration and production program after it agreed to sell its natural gas pipeline gathering system in the Marcellus Shale to an affiliate for $865 million, analysts said.

Nexen Inc. last week secured two joint ventures (JV) in two separate transactions, both with Asian companies, that promise to give the Calgary-based independent a solid footing to expand development in the Gulf of Mexico (GOM) as well as British Columbia (BC).

FERC Monday issued a favorable environmental assessment (EA) of Tennessee Gas Pipeline’s Northeast Upgrade Project, which when combined with the 300 Line expansion that recently went into service, will add 1 Bcf/d of capacity to transport gas from the Marcellus Shale basin to Northeast markets.

Velocity Midstream Partners has secured long-term commitments from Shell Western E&P for transportation and terminal services for light oil and condensate production from Shell’s position of more than 100,000 acres at the Harrison Ranch (also known as the Piloncillo Ranch) in the Eagle Ford Shale in South Texas.