MarkWest Utica EMG LLC said Tuesday it has an agreement in principle with Gulfport Energy Corp. and some undisclosed producers to develop extensive midstream infrastructure in the liquids-rich portion of eastern Ohio’s Utica Shale.
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Enterprise Products Partners LP announced Tuesday that it has agreed to sell about 22.8 million common units of Energy Transfer Equity LP (ETE) to undisclosed purchasers for approximately $825.1 million.
Penn Virginia Corp. said Tuesday it has agreed to explore a portion of the Eagle Ford Shale of South Texas with an undisclosed “major oil and gas company.”
Lightfoot Capital Partners plans to make an undisclosed direct investment and own a 48% interest in Arc LNG Holdings LLC, which will own a 20% interest in Gulf LNG Energy’s new liquefied natural gas (LNG) terminal in Pascagoula, MS. The $1.1 billion facility is expected to be completed in November and will have a capacity of 1.3 Bcf/d, which is all contracted for the next 20 years under firm service agreements. Lightfoot’s investment comes as Atlas Energy LP (ATLS) announced that GE Energy Financial Services, a GE subsidiary, will invest in Lightfoot to own a general partner interest and a 58% limited partner interest. As a result, ATLS will own about a 16% general partner/12% limited partner interest in Lightfoot, which is the general partner and majority owner of Arc Terminals LP.
Kodiak Oil & Gas Corp. said Wednesday it has agreed to purchase 13,500 net acres in the Bakken Shale play from an undisclosed private oil and gas company for about $235 million in cash. It also agreed to assume the terms of a contract for its sixth drilling rig.
Swift Energy Co. agreed to sell its interests in six fields in South Louisiana, two in Texas and one in Alabama to an undisclosed private oil and gas company for $53.5 million. Swift said it would use the proceeds to fund a portion its 2011 capital expenditures. Production attributable to the fields being sold averaged 10.6 MMcfe/d during 1Q2011 with aggregate proved reserves of 92.2 Bcfe (19% proved developed producing and 65% natural gas) at year-end 2010. The sale is expected to close within the next two months.
Chief Oil & Gas LLC announced Thursday that separate investigations by the company and the Pennsylvania Department of Environmental Protection (DEP) have concluded that Chief is not responsible for contaminating the water well of a woman in Bradford County, PA, who went on to become a vocal critic of hydraulic fracturing (fracking).