Texas

The Eagle Ford Shale in South Texas made the headlines in international joint venture acquisitions last week as China made its first big investment in U.S. oil and gas assets and the Norwegian Statoil reached out from its Marcellus natural gas base in the U.S. to grab a position in the liquids-rich Eagle Ford.

Landmen headed for the Eagle Ford Shale, you’re too late. Engineers need to hurry. And beancounters, your day is coming. The Eagle Ford is the hottest thing in South Texas, but like the unconventional plays that came before, it too will have its seasons.

Denbury Resources Inc. is selling its Haynesville and East Texas natural gas assets for $217.5 million to an undisclosed private oil and gas company. The sale is expected to close within 45 days with an effective date of Sept. 1, 2010.

Landmen headed for the Eagle Ford Shale, you’re too late. Engineers need to hurry. And beancounters, your day is coming. The Eagle Ford is the hottest thing in South Texas, but like the unconventional plays that came before, it too will have its seasons.

Eagle Rock Energy Partners LP is buying gas gathering systems and related facilities primarily in Wheeler and Hemphill counties in the Texas Panhandle from CenterPoint Energy Field Services Inc. for $27.5 million, the partnership said Monday.

Analysts at BMO Capital Markets named the Eagle Ford Shale in South Texas the “play of 2010” in a research note last week. But it could also be called the “now and later” play among North American shale prospects: It offers oil and condensate for now and dry gas for later when prices improve.

Analysts at BMO Capital Markets named the Eagle Ford Shale in South Texas the “play of 2010” in a research note this week. But it could also be called the “now and later” play among North American shale prospects: It offers oil and condensate for now and dry gas for later when prices improve.

An informational meeting on the the Texas Commission on Environmental Quality’s (TCEQ) proposed new rules for oil and gas production facilities will be held in Austin from 9:30 a.m. to 3 p.m. on Tuesday (Aug. 31). The meeting will also be available via video conference at seven TCEQ offices around the state as well webcast at www.texasadmin.com. Proposed rules will amend regulations that govern oil and gas facility equipment to minimize emissions, TCEQ said (see Daily GPI, July 30). The meeting is not part of the formal rulemaking or public comment process. Those attending in Austin and at regional offices will be able to question TCEQ staff. No registration is required. For a list of regional offices where the video conference will be available visit the TCEQ website.

Gulf South plans to perform meter maintenance for about eight hours Monday at its South Raymond-Expansion interconnect with Texas Eastern in Hinds County, MS. Flow will be shut in for the duration, Gulf South said, but it will keep nominations there whole for the day.