South

Atlas Pipeline Partners LP stepped deeper into the Eagle Ford Shale in South Texas on Tuesday with a $1 billion cash agreement to buy privately held Teak Midstream LLC, a natural gas gathering and processing operator.

Sunoco Logistics Partners LP is holding a binding open season for its Mariner South Pipeline, which is intended to transport export-grade propane and butane, from Lone Star NGL LLC’s storage and fractionation complex in Mont Belvieu, TX, to Sunoco Logistics’ terminal in Nederland, TX. The pipeline is to be available for other natural gas liquids and petroleum products depending on shipper interest, Sunoco said. Initial capacity is expected to be 200,000 b/d and could be scaled to support higher volumes as needed. The pipeline is expected to be operational by the first quarter of 2015. For information, visit www.sunocologistics.com/marinersouth.

Driven by abundance north of the border and growing need to the south, U.S. exports of natural gas to Mexico hit their highest level since export data collection began in 1973, the Energy Information Administration (EIA) said. Meanwhile, cross-border pipeline export capacity from the United States is expected to grow significantly.

Driven by abundance north of the border and growing need to the south, U.S. exports of natural gas to Mexico hit their highest level since export data collection began in 1973, the Energy Information Administration (EIA) said. Meanwhile, cross-border pipeline export capacity from the United States is expected to grow significantly.

McMoRan Exploration Co. Wednesday began crowing about a Lineham Creek ultra-deep exploratory well located onshore in South Louisiana in which it has a minority stake. The well is not yet at total depth, but McMoRan said estimated proved, probable and possible oil and gas reserves are 546.7 Bcfe gross.

Carrizo Oil & Gas Inc. this year plans to spend $500 million on drilling and completions, with the lion’s share going to the Eagle Ford Shale in South Texas. The Houston-based company said last week it would spend $385 million in the play, $70 million in the Marcellus Shale, $35 million in the Niobrara formation and $10 million for other drilling activity.

Carrizo Oil & Gas Inc. plans to spend $500 million on drilling and completions this year, with the lion’s share going to the Eagle Ford Shale in South Texas.

Natural gas shale plays have become “relatively well delineated,” which is sending production costs south in many onshore basins, a trend that should continue as adequate infrastructure opens the door to more opportunities, according to Credit Suisse’s energy team.

Forest Oil Corp. has agreed to sell all of its South Texas properties — excluding those in the Eagle Ford Shale — for proceeds of $325 million after tax as part of its ongoing deleveraging plan, the company said Thursday.