Shale

ConocoPhillips CEO Warns Rising Costs May Impact Output

ConocoPhillips has slashed its capital budget for 2007, and it warned that if service costs continue to escalate, its medium-term oil and natural gas production likely will be impacted.

December 11, 2006

Southern Natural Joins Southeast Supply Header Project

Backers of the Southeast Supply Header (SESH) gas pipeline project — designed to bring new supplies, including those from the Barnett Shale and Bossier Sands, as well as regasified liquefied natural gas (LNG), to the Southeast market — are expanding the project to reach new markets in conjunction with Southern Natural Gas (SNG), an affiliate of El Paso Corp.

December 11, 2006

Southern Natural Buys Into Southeast Supply Header Project

Backers of the Southeast Supply Header (SESH) gas pipeline project — designed to bring new supplies, including those from the Barnett Shale and Bossier Sands, as well as regasified liquefied natural gas (LNG), to the Southeast market — are expanding the project to reach new markets in conjunction with Southern Natural Gas (SNG), an affiliate of El Paso Corp.

December 11, 2006

Industry Briefs

Junior exploration and production company Dune Energy Inc. said Friday it will spend $32.8 million to acquire 2,457 gross acres on the Barnett Shale fairway in Denton County, TX from Voyager Partners Ltd. Dune had earlier purchased $31.8 million of Voyager’s Barnett properties. The two-part agreement will add 2,457 more gross acres to Dune’s portfolio. The assets are estimated to contain proved reserves totaling 29.9 Bcfe plus probable reserves totaling 16.1 Bcfe. The acquisition cost is about $109/Mcfe for the proved reserves, and 71 cents/Mcfe for the proved plus probable reserves. Dune purchased $7 million of Voyager’s remaining properties last Tuesday. The agreement Friday provides that the balance of Voyager’s assets, totaling $25.8 million, be acquired by Dune on or before Jan.19. Dune said its obligation to purchase the remaining assets is subject to financing.

October 16, 2006

Energy Transfer to Transport Up to 1.045 Bcf/d in Additional Barnett, Bossier Supply

Dallas-based Energy Transfer Partners LP (ETP) has entered into new long-term transportation agreements with several producers in the Barnett Shale and Bossier Sand plays in North and East Texas to transport up to an additional 1.045 Bcf/d. The agreements, with terms ranging from five-to-10 years, are tied to ETP’s planned pipeline expansions, which were announced last July (see Daily GPI, July 7, 2005).

April 5, 2006

Industry Brief

Louis Dreyfus Energy Services announced plans to install up to 80 MMcf/d of gathering pipeline this year to serve the southern Barnett Shale play in North Texas. The company said Tuesday the project could lead to construction of a large-diameter pipeline should the region’s gas development increase substantially. Louis Dreyfus has nearly completed the initial 20 MMcf/d phase of the new gas gathering and processing system in Eastland, Erath, Bosque and Hill counties, TX. The gathering system will be expanded later this year to 40-80 MMcf/d. The project consists of converting existing pipeline capacity to natural gas in a corridor from Taylor to Navarro Counties with the capability to move gas both east and west. Louis Dreyfus Energy Services and its subsidiaries plan to put additional capacity in service as the region develops. Louis Dreyfus Energy Services also owns a 20% stake in the 850 MMcf/d Sea Robin gas processing plant; a 1,400-mile NGL pipeline from the Permian Basin to a storage facility in Hull, TX; a 4.5-million-barrel propane/butane storage and terminal facility in Hattiesburg, MS; and a 50% interest in Mont Belvieu Storage Partners, among other assets.

February 16, 2005

Mitchell Energy Doubles Production in N. Texas

Mitchell Energy & Development’s gas production in NorthTexas is soaring. The company announced that its developmentprogram in the Newark East Barnett shale field is exceedingexpectations. In a little more than a year’s time, the company’sgross natural gas production in the Barnett field has doubled to172 MMcf/d. At this rate, Mitchell Energy will meet, and exceed itstarget growth of 15% this year.

July 17, 2000

Mitchell Energy Doubles Production in N. Texas

Mitchell Energy & Development’s gas production in NorthTexas is soaring. The company announced that its developmentprogram in the Newark East Barnett shale field is exceedingexpectations. In a little more than a year’s time, the company’sgross natural gas production in the Barnett field has doubled to172 MMcf/d. At this rate, Mitchell Energy will meet, and exceed itstarget growth of 15% this year.

July 14, 2000
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