Royale Energy Inc. said Wednesday it struck a $43 million joint venture (JV) agreement with an unnamed company to fund exploration costs on its Alaska North Slope acreage.
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Kinder Morgan Energy Partners LP (KMP) and BP North America have struck a long-term, fee-based agreement supporting an additional 50,000 b/d of throughput capacity at a condensate processing facility KMP is constructing on the Houston Ship Channel.
Britain’s Centrica plc has struck a 20-year sale and purchase agreement with Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC for 1.75 million metric tons per annum (mmtpa) of liquefied natural gas (LNG) with deliveries to begin as early as 2018. The contracted amount is equivalent to 91,250,000 MMBtu/year and with Sabine’s contract with Total Gas & Power North America Inc. (see NGI, Dec. 24, 2012), brings Train 5 contracted volumes to 3.75 mmtpa. Centrica, Sabine’s sixth LNG export customer, is to buy LNG on a free on board basis at a Henry Hub indexed price, plus a fixed component,. The 20-year contract, contingent on regulatory and financing approvals, begins on the date of first commercial delivery from Train 5 and has an extension option of up to 10 years. Centrica businesses include British Gas, which serves about 12 million homes in Britain, nearly half of the country’s homes, and Direct Energy, which has businesses in natural gas production, power generation and distribution in North America.
Britain’s Centrica plc has struck a 20-year sale and purchase agreement with Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC for 1.75 million metric tons per annum (mmtpa) of liquefied natural gas (LNG) with deliveries to begin as early as 2018.
Eagle Rock Energy Partners LP and Apache Corp. have struck a new fee-based gas gathering, processing and purchasing agreement in support of Apache’s drilling in the Texas Panhandle. Apache has dedicated all existing and future wells drilled within an area encompassing more than 106,000 gross acres in Hemphill, Lipscomb, Ochiltree, Roberts, Hansford and Sherman counties under market-based terms. The agreement supersedes and expands on previous agreements between Eagle Rock and Apache. The dedicated acreage covers the Granite Wash, Hogshooter, Tonkawa, Marmaton and Cleveland plays in the Anadarko Basin. The associated Apache production will be gathered and processed at one or more of the partnership’s cryogenic processing plants in the Panhandle. Eagle Rock’s Panhandle assets consist of 6,500 miles of gathering pipeline and more than 480 MMcf/d of processing capacity, with an additional 60 MMcf/d of processing capacity expected to come online in the second quarter.
Units of Russia’s Gazprom and Pangea LNG B.V. have struck a tentative 20-year offtake agreement for the sale of liquefied natural gas (LNG) to be produced from a floating facility sourcing gas from the Tamar and Dalit fields offshore Israel. The terminal, if constructed, would be the world’s first project-financed floating LNG (FLNG) facility.
Magnum Hunter Resources Corp. and privately held Eclipse Resources I LP have struck a joint operating agreement covering a leasehold owned by both companies in the Marcellus and Utica shales in Monroe County, OH.