An affiliate of Oklahoma City-based Warwick Energy Group has agreed to buy R/C Sugarkane LLC from Riverstone/Carlyle Global Energy and Power Fund IV LP. R/C Sugarkane is a private upstream oil and gas company with nonoperated working interests made up of about 6,000 net acres in a core, liquids-rich window of the Eagle Ford Shale,…
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‘Marcellus Bounty’ to Benefit Leading Operators for Years, Moody’s Says
The Marcellus Shale's earliest and most active operators will continue to see their fortunes rise as more infrastructure is built…
Crestwood Details Multi-Step Buildout in Delaware Basin
Crestwood Midstream Partners LP plans to further expand its Willow Lake Project in the Permian’s Delaware Basin with conversion of a portion of its Las Animas gas gathering system to rich gas service and construction of a cryogenic gas processing plant.
Labor Shortages Causing Constraints for Interior — and U.S. Petrochem Industry
Not enough people are being trained to build, operate and maintain U.S. Gulf Coast petrochemical projects, which may impose constraints as expansions get underway in 2015, a top executive said this week. Meanwhile, the Department of Interior is losing employees to the private sector because it pays better, creating a vacuum within the Bureau of Land Management (BLM) that has led to less oversight and longer permitting times, particularly for the Bakken Shale.
Hilcorp’s Forced Pooling Request Stirring Controversy in Western Pennsylvania
After cancelling a set of public hearings last month regarding Hilcorp Energy Co.'s request for a forced pooling order on 3,267 acres in Western Pennsylvania, the state’s Department of Environmental Protection (DEP) has rescheduled those hearings for May.
North Dakota Gas-Fueled Fertilizer Plant Delayed
A multi-billion-dollar project that has promised to help cut the increasing volumes of flared wellhead natural gas in North Dakota has been delayed indefinitely by ideveloper CHS Inc., based in St. Paul, MN, which is the nation's largest farmer-owned cooperative. There is no timeline for the project being restarted.
Pennsylvania Leases 1,400 Acres Under Waterways, Nets $5.9M in Bonuses
The Pennsylvania Department of Conservation and Natural Resources (DCNR) has leased more than 1,400 net acres for natural gas drilling under public waterways in the state, and has raised nearly $5.9 million in signing bonuses.
Industry Briefs
Magellan Midstream Partners LP plans to construct a condensate splitter at its terminal in Corpus Christi, TX, under a fee-based, take-or-pay agreement with Trafigura AG. The project includes construction of more than one million bbl of storage, dock improvements and two additional truck rack bays at Magellan’s terminal as well as pipeline connectivity between Magellan’s…
Study Casts Oil Exports as Economic Growth Engine
An oil industry-funded study says allowing export of domestic crude oil would create thousands of jobs and be a boon to consumers and the U.S. economy.
60% of North American Dry Gas Seen Coming From Shales by 2022
North American shale natural gas production will grow to 64 Bcf/d by 2022, led by the Marcellus Shale, which will be responsible for 17 Bcf/d of that total, and maybe more, according to a new analysis by Ziff Energy.