Secured

With activity heating up in several Permian Basin shale plays, Houston-based start-up Nuevo Midstream, LLC announced Wednesday it has secured a $65 million equity commitment to develop midstream infrastructure for natural gas producers in the Permian.

Mainland Resources Inc. reported positive results from its Burkley Phillips No. 1 Well in Jefferson County, MS, in the Buena Vista Haynesville Shale that suggest there is more adsorbed and free gas in place in the reservoir than previously thought.

Inergy LP subsidiary Central New York Oil And Gas Co. LLC has secured the binding agreements it needs in order to apply for permits to construct its MARC I Hub Line Project in Pennsylvania, the company said. The project is one of two complementary efforts the company has in the works that would serve Marcellus Shale production.

Inergy LP subsidiary Central New York Oil And Gas Co. LLC has secured the binding agreements it needs in order to apply for permits to construct its MARC I Hub Line Project in Pennsylvania, the company said. The project is one of two complementary efforts the company has in the works that would serve Marcellus Shale production.

Trans Energy Inc. has secured 45,000 MMBtu/d of firm natural gas takeaway capacity in its main operating areas of Marshall, Wetzel and Marion counties in West Virginia from Caiman Eastern Midstream LLC, the company said Monday.

Natural gas futures bulls made a strong statement Friday as they not only secured the gains of the week, but also built upon them, leaving market watchers to seriously ponder whether the lows for the extended downtrend were already in. The June contract soared another 23 cents Friday to close at $4.311, up an astonishing 76.5 cents from the previous week’s finish.

NGS Energy LP said it intends to raise $310 million in senior secured credit facilities to fund remaining construction and pad gas purchases at Tres Palacios Gas Storage LLC, a new underground salt cavern gas storage facility under construction in Matagorda and Wharton counties, TX. Tres Palacios will have three caverns and will be a high-deliverability, multi-cycle facility with several interconnections and significant storage capacity. Credit Suisse has been retained to raise the financing. The project — which received Federal Energy Regulatory Commission approval in September 2007 (see Daily GPI, Sept. 21, 2007) — would be designed to allow cycling up to seven times a year, with a peak injection rate of 1 Bcf/d and a maximum withdrawal capability of 2.5 Bcf/d. Tres Palacios also plans to construct approximately 42 miles of pipeline that would extend from the facility to interconnections with 12 intrastate and interstate pipelines. The FERC order requires the storage and pipeline facilities to be built and in service within one year. Tres Palacios would be situated among several proposed or existing liquefied natural gas (LNG) import terminals, including Calhoun LNG and Freeport LNG. The project includes a header system that crosses more than 8 Bcf/d of downstream pipeline capacity. Headquartered in Westport, CT, NGS Energy was founded in 2006 to develop a portfolio of high-deliverability storage assets.

South-central Alaska gas distribution utility ENSTAR Natural Gas Co. has finally secured contracts for gas supply to meet its customers’ needs next year and beyond. Now it is seeking expedited state regulatory approval of the two contracts in order to avoid a gas supply shortfall as early as Jan. 1.

Dominion has secured firm, long-term commitments to receive natural gas from Rockies Express (REX) and deliver it to major markets in the Northeast and Mid-Atlantic regions on its pipeline project named Dominion Hub I, the company said last week.