A consortium of private equity investors is readying a $7.15 billion leveraged buyout of El Paso Corp.’s exploration and production (E&P) business, which includes an array of liquids-rich U.S. unconventional property that extends across Texas, Louisiana, the Raton Basin and the Rocky Mountains.
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Teak Building Eagle Ford Gathering System, Processing Plant
Teak Midstream LLC is building more than 200 miles of natural gas gathering and residue delivery pipelines and an adjoining 200 MMcf/d cryogenic gas processing plant in South Texas to better serve producers operating in the Eagle Ford Shale, the Dallas-based company said Tuesday.
Eagle Ford Driving Texas Midstream Expansions
Energy Transfer Partners LP said Thursday that new long-term fee based gathering, processing and liquids services agreements with Eagle Ford Shale producers support plans for it to further expand its previously announced Rich Eagle Ford Mainline (REM) pipeline and construct another cryogenic processing facility.
North Slope Oil Well Has ‘Gas Kick’
An Alaska North Slope exploratory oil well that experienced “a shallow gas kick” Wednesday morning did not cause any injuries, but workers were evacuated as a precaution. The incident occurred at the Qugruk 2 drill site near Nuiqsut, about 625 miles north of Anchorage.
Pennsylvania DEP Fines Chesapeake $565K for Multiple Incidents
The Pennsylvania Department of Environmental Protection (DEP) has fined a Chesapeake Energy Corp. subsidiary $565,000 for three incidents that occurred in the northern part of the state in the Marcellus Shale, including a blowout at a Bradford County well last April (see Shale Daily, April 25, 2011).
Noble Keeping Marcellus Powder Dry
This year is the first in a multi-year period of growth for Noble Energy Inc. as the company realizes the payoff from “multiple years of exploration success,” CEO Charles Davidson told financial analysts Thursday during an earnings conference call. However, dry gas production from the Marcellus Shale is not part of the windfall, at least not for a while.
National Fuel Cuts Seneca Capex, Two Marcellus Rigs
National Fuel Gas Co. (NFG) said low natural gas prices were forcing its Seneca Resources Corp. subsidiary to scale back capital expenditures (capex) on exploration and production (E&P) for fiscal 2012, which includes dropping two of its six drilling rigs in the Marcellus Shale.
Boardwalk Building Out in Eagle Ford
As it goes with producers, so it goes with the midstream: liquids-rich gas is the most desirable to have and to handle, and Boardwalk Pipeline Partners LP’s Boardwalk Field Services LLC is expanding its systems accordingly.
BLM Reduces Piceance Acreage Available for Oil Shale, Tar Sands
The Interior Department’s Bureau of Land Management (BLM) Friday issued a draft proposal, cutting in half the public lands that could be made available in three western states, and limiting activities to early research and development projects for oil shale and tar sands resources.
NiSource Unveils Plans for New Pennsylvania Marcellus Pipeline
NiSource Gas Transmission & Storage (NGT&S) is in the latter stages of developing a 90-mile pipeline in western Pennsylvania to support increased Marcellus Shale natural gas production, NiSource Inc. officials said Wednesday.