Royal Dutch Shell plc on Friday agreed to pay $4.7 billion to acquire subsidiaries of privately held East Resources Inc., instantly giving the supermajor, which is based in The Hague, Netherlands, a substantial foothold in the Marcellus Shale and even more acreage in the Eagle Ford Shale.
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Shell Gains Substantial Foothold in Marcellus, Eagle Ford
Royal Dutch Shell plc on Friday agreed to pay $4.7 billion to acquire subsidiaries of privately held East Resources Inc., instantly giving the supermajor, which is based in The Hague, Netherlands, a substantial foothold in the Marcellus Shale and even more acreage in the Eagle Ford Shale.
Transportation Notes
The ExxonMobil-operated Sable Offshore Energy Project (SOEP) facility returned to normal production levels for gas day Sunday, according to Spectra Energy subsidiaries Maritimes Canada and Maritimes U.S. The facility produces between 400 and 500 MMcf/d of natural gas and 20,000 b/d of natural gas liquids near Sable Island on the edge of the Nova Scotian continental shelf in eastern Canada. The SOEP planned maintenance outage, which began in early May, was originally expected to end for gas day May 11.
Denali Gasline Terms ‘Basically Match’ TransCanada
Denali — The Alaska Gas Pipeline, which is owned by subsidiaries of BP plc and ConocoPhillips, filed its open season plan last week with FERC for a $35 billion project to carry Alaska natural gas from the North Slope to Lower 48 markets. Denali said it expects the project to be in service in 2020.
Denali Files at FERC for $35B Alaska Gasline Open Season
Denali — The Alaska Gas Pipeline, which is owned by subsidiaries of BP and ConocoPhillips, filed its open season plan Wednesday with FERC for a $35 billion project to carry Alaska natural gas from the North Slope to Lower 48 markets. Denali said it expects the project to be in service in 2020.
Denali Files at FERC for $35B Alaska Gasline Open Season
Denali — The Alaska Gas Pipeline, which is owned by subsidiaries of BP and ConocoPhillips, filed its open season plan Wednesday with FERC for a $35 billion project to carry Alaska natural gas from the North Slope to Lower 48 markets. Denali said it expects the project to be in service in 2020.
Industry Brief
Atmos Energy Corp. subsidiaries Atmos Pipeline and Storage LLC (APS) and Fort Necessity Gas Storage have made agreements with Delhi Gas Storage LLC, a subsidiary of Icon NGS LLC, to allow Delhi to develop the proposed Ft. Necessity salt-dome gas storage project in Franklin Parish, LA. Delhi has been granted the right to drill a brine disposal well and undertake tests to better define the characteristics of the brine disposal formation. If Delhi completes the well and wishes to proceed with the development, it has the right to contribute the brine well test results and acquire a controlling interest in Ft. Necessity, which will own all of the project assets. APS will retain a capital position in Ft. Necessity and will share in a variable percentage of the profits. Upon its exercise of its option, Delhi will have the sole responsibility for managing Ft. Necessity and will provide funding for all future development. Delhi will have the option to purchase APS’s interest at varying stages of development at predetermined pries. Should the project be developed, Atmos Energy Marketing LLC has agreed to purchase some firm storage service.
Industry Brief
Atmos Energy Corp. subsidiaries Atmos Pipeline and Storage LLC (APS) and Fort Necessity Gas Storage have made agreements with Delhi Gas Storage LLC, a subsidiary of Icon NGS LLC, to allow Delhi to develop the proposed Ft. Necessity salt-dome gas storage project in Franklin Parish, LA. Delhi has been granted the right to drill a brine disposal well and undertake tests to better define the characteristics of the brine disposal formation. If Delhi completes the well and wishes to proceed with the development, it has the right to contribute the brine well test results and acquire a controlling interest in Ft. Necessity, which will own all of the project assets. APS will retain a capital position in Ft. Necessity and will share in a variable percentage of the profits. Upon its exercise of its option, Delhi will have the sole responsibility for managing Ft. Necessity and will provide funding for all future development. Delhi will have the option to purchase APS’s interest at varying stages of development at predetermined pries. Should the project be developed, Atmos Energy Marketing LLC has agreed to purchase some firm storage service.
FPL Group to Rebrand as Next Era Energy
FPL Group Inc. has proposed to shareholders that its name be changed to NextEra Energy Inc., the Juno Beach, FL-based company said Friday.
FPL Group to Rebrand as Next Era Energy
FPL Group Inc. has proposed to shareholders that its name be changed to NextEra Energy Inc., the Juno Beach, FL-based company said Friday.