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Industry Briefs

NGL Energy Partners LP has acquired the assets of High Roller Wells LLC’s Big Lake SWD No. 1 Ltd., a Texas limited partnership. The Big Lake acquisition expands NGL’s water services business by adding a high-capacity, strategically located, oil and gas water disposal facility to its portfolio of water treatment and gathering infrastructure. The acquisition brings an 25,000 barrels of disposal capacity in the growing Permian Basin in West Texas, the company said.

July 9, 2013

U.S. Needs New Attitude to Reflect Gas Bounty, Says Senator

While the United States has undergone a “tectonic shift” underground with the shale revolution, that shift has failed to translate to attitudes above-ground, Sen. Lisa Murkowski (R-AK) she told a crowd of more than 900 from around the world attending the Energy Information Administration Energy Conference in Washington, DC.

June 24, 2013

North American LNG-Fueled Ships Studied

A United Nations-tied international shipping safety organization has tapped a Norwegian foundation to examine how liquefied natural gas (LNG) can be turned into a primary fuel source for ships plying the waters of North America.

June 24, 2013

ExxonMobil Joins BC LNG Export Party

If ExxonMobil Corp. has its way, it could be exporting natural gas from the United States and Canada to overseas markets, after the supermajor on Wednesday filed for permission to export 30 million metric tons a year (mmty) of liquefied natural gas (LNG) from the west coast of British Columbia (BC).

June 21, 2013

Industry Briefs

The market will ultimately cap the amount of natural gas that the United States exports, not policymakers, said an executive with CIBC World Markets at the Energy Information Administration’s Energy Conference Tuesday in Washington, DC. Hypothetically, “if we were to see Henry Hub prices in the $5.00-7.00/Mcf range, it would make incremental [liquefied natural gas export] projects difficult,” said CIBC World’s head of commodity strategy Katherine Spector. CIBC is a unit of the Canadian Bank of Commerce. “There is a point that this [exports] will not make economic sense…I don’t know what the magic number is.” When natural gas in Asia is priced at $16.00, and gas at Henry Hub is $2.00-3.00, “it’s a no brainer.”

June 20, 2013

North American LNG-Fueled Ships Studied

A United Nations-tied international shipping safety organization has tapped a Norwegian foundation to examine how liquefied natural gas (LNG) can be turned into a primary fuel source for ships plying the waters of North America.

June 19, 2013

Chesapeake Shareholders Reelect Board, Reject Declassification

Chesapeake Energy Corp. shareholders reelected the company’s board of directors, but rejected separate proposals to implement proxy access, reincorporate in Delaware and declassify the board, the last of which would have made it easier to replace the entire board in one fell swoop.

June 18, 2013

Energy Independence in Sight, Says Chesapeake’s Dunham

With the “right kind of leadership” and regulatory environment, the United States could be just 10 years from achieving energy independence, Chesapeake Energy Corp.’s nonexecutive Chairman Archie Dunham said Friday.

June 17, 2013

$4.00-Plus Called ‘Breakeven’ for U.S. Natural Gas

Nearly every major natural gas play in the United States makes money at prices above $4.00/Mcf, and more important, may generate a “decent rate of return” at prices above $4.25, according to an analysis by Raymond James & Associates Inc.

June 17, 2013

Price Trigger at $4.00-Plus for ‘Breakeven’ U.S. Natural Gas

Nearly every major natural gas play in the United States makes money at prices above $4.00/Mcf, and more important, may generate a “decent rate of return” at prices above $4.25, according to an analysis by Raymond James & Associates Inc.

June 11, 2013