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Kinder Morgan Inc. (KMI) pipelines have virtually no exposure to low natural gas prices, but they are subject to shifting continental gas flows, particularly those resulting from developing shale gas supply basins.

A unit of China’s Sinopec Group on Tuesday agreed to invest $2.2 billion to acquire a one-third interest in five of Devon Energy Corp.’s frontier unconventional oil and gas fields.

Williams Partners LP has agreed to acquire the Laser Northeast Gathering System and other midstream businesses from Delphi Midstream Partners LLC for about $750 million. Laser is composed of 33 miles of 16-inch diameter gas pipeline and associated gathering facilities in Susquehanna County, PA, as well as 10 miles of gathering pipeline in southern New York. The acquisition is supported by existing long-term gathering agreements that provide acreage dedications and volume commitments. As production in the Marcellus Shale increases, the Laser system is expected to reach a capacity of 1.3 Bcf/d, said Williams Partners, which plans to fund the purchase with $300 million in cash and 7.5 million common units. The deal, which the partnership said it earlier was pursuing (see Shale Daily, Dec. 5), is subject to customary regulatory approvals.

Shell Pipeline Co. LP received a “very encouraging response” in a nonbinding open season for capacity on its proposed Houma, LA, to Houston (Ho-Ho) oil pipeline system reversal, which would take advantage of growing oil shale production, the company said Thursday.

There is “no defensible reason” for the Environmental Protection Agency (EPA) to subject natural gas pipelines and storage facilities to regulation of emissions of volatile organic compounds (VOC), said a major interstate gas pipeline group.

In a merger that would create a formidable onshore oilfield services company, Superior Energy Services Inc. on Monday agreed to pay $2.7 billion in cash and stock to buy Complete Production Services Inc. — a 62% premium to Complete’s closing share price on Friday.

Southern said based on weather forecasts and projected system demand, five delivery groups will become subject to an OFO Type Level 1 Tuesday until further notice. Penalties of $10/Dth will apply to shippers whose allocated deliveries in those groups exceed 105% of their daily entitlement, Southern said. See the bulletin board for details.

Three environmental groups in California have filed a formal protest against the federal Bureau of Land Management’s (BLM) plans for a September oil/gas lease sale in the Monterey play, alleging that a more thorough environmental assessment (EA) is needed and calling on BLM to zero in on the impact hydraulic fracturing (fracking) might have.

Well servicing contractor Key Energy Services Inc. has agreed to acquire Edge Oilfield Services LLC and Summit Oilfield Services LLC for $300 million in stock and cash, plus reimbursement of up to $40 million of capital spending in the Eagle Ford Shale. Edge primarily rents hydraulic fracturing stack equipment. It also provides well testing services, rental equipment such as pumps and power swivels, and oilfield fishing services. Closing is expected during this quarter subject to customary conditions.