Wednesday, December 30, 2015

Natural Gas Market Update


APPI ENERGY Understanding natural gas trends helps WACC members make smarter energy management decisions. Today s natural gas prices are driven by domestic natural gas resources, consumer demand, and electricity generation that uses natural gas-fired turbines. Production An abundance of natural gas resources in the U.S., coupled with enhanced drilling techniques, has led to historic increases in natural gas production. In May 2015, natural gas production in the U.S. reached an all-time high of 45.6 billion cubic feet per day in the shale regions, including the Marcellus in Pennsylvania. In August 2015, the U.S. Energy Information Administration (EIA) Short Term Energy Outlook predicted that total U.S. gas production would increase by 4 billion cubic feet per day in 2015 compared to 2014, reaching 78.7 billion cubic feet per day. Horizontal drilling and hydraulic fracturing, also known as fracking, are innovative techniques for capturing natural gas in shale formations, including the M
http://www.shaledirectories.com/blog/natural-gas-market-update/

Tuesday, December 29, 2015

GE continues its business strategy into LNG


About two years ago GE made the prudent business decision to move into the new lucrative shale plays in the US. To fund the move they began selling off their massive financial business line that was being hampered by new government regulations that would change their financial business model. So it’s no surprise that GE is now working in the locomotive business too. With a brother-in-law that successfully works in the national trucking industry for over 20 yrs says it is getting tougher and tougher for the trucking industry due to the lack of CDL truck drivers. The oil & gas industry is always advertising for CDL drivers. So it’s no surprise that Eco imaginative GE is working towards a locomotive fueled by LNG. The rail industry has already benefited by the shale industry as expressed by CSX, NorfolkSouthern and Union Pacific. In Lycoming County (PA) alone the rail traffic has increased by over 800% since 2010. The rail system transports items such as sand as well as pipeline. Way
http://www.shaledirectories.com/blog/ge-continues-its-business-strategy-into-lng/

Friday, December 18, 2015

MarkWest Energy Partners to Discuss Recent Merger


MarkWest Energy Partners to Discuss Recent Merger at 2016 Marcellus-Utica Midstream Conference Houston, Texas (December 16, 2015) – Hart Energy’s 7th Marcellus-Utica Midstream conference and exhibition will unite the region s top companies January 26-28, 2016, for an in-depth look at upstream and midstream activity throughout the Appalachian plays. Midstream’s biggest stakeholders are working to make the region a net exporter of natural gas ahead of the rest of the country. Held at the David L. Lawrence Convention Center, this event offers firsthand knowledge about the region’s potential. Just this month, MarkWest Energy Partners announced the completion of a merger to become a wholly-owned subsidiary of MPLX. The operator leads the Appalachian region in gathering, processing and fractionation services. Conference attendees will hear from Scott J. Garner, a vice president for the company. Garner will discuss how combining with a leading pipeline and terminal operator will affe
http://www.shaledirectories.com/blog/markwest-energy-partners-to-discuss-recent-merger-at-2016-marcellus-utica-midstream-conference/

Thursday, December 17, 2015

Pennsylvania’s Bat Population Receiving High-Tech Protection with Help from Natural Gas Industry Leaders


Dawood Engineering, Inc. (Dawood) is proud to partner with Williams and the Marcellus Shale Coalition to help protect the health of the bat population through technology. Bats across Pennsylvania and the eastern United States are facing a devastating disease called White Nose Syndrome (WNS). WNS decimates bat populations, with some species experiencing a mortality rate of up to 99 percent. To fight this disease, members of the Marcellus Shale Coalition’s Land Affairs Working Group joined together to seek funding from Williams for the purchase of two high-tech cameras for the Pennsylvania Game Commission. The cameras will support the Game Commission in their fight to protect bats during their fragile hibernating period. The Marcellus Shale Coalition’s Land Affairs Work Group was formed to establish and build relationships with the conservation community and has organized several educational events addressing habitat. Dawood, an active member of the Marcellus Shale Coalition, has le
http://www.shaledirectories.com/blog/pennsylvanias-bat-population-receiving-high-tech-protection-with-help-from-natural-gas-industry-leaders/

Wednesday, December 16, 2015

The Oil Exporting Ban Could Be Lifted


House Republicans announced a deal late Tuesday between the GOP-led Congress and the White House on a trillion-dollar, year-end tax and spending package to fund the government through fiscal year 2016.Part of the massive package is the lifting of the 40-year-old ban on exporting crude oil. The export ban was imposed during energy shortages of the 1970s, but has been declared outdated by industry allies. Environmentalists say lifting it would amount to a giant windfall for the oil industry. It puts the United States in the driver’s seat of energy policy worldwide, Representative Joe Barton (Republican-Texas) said. The change still subject to Senate and House approval is a huge victory, he said.Limits on U.S. oil exports would be lifted immediately, according to the bill released early Wednesday by the House Appropriations Committee. It would allow the president to impose restrictions on exports for national-security reasons and in case of a shortage. Sources said the bargain would al
http://www.shaledirectories.com/blog/1083-2/

Monday, December 14, 2015

Why wildlife and outdoorsmen love the Shale industry in PA


Pennsylvania’s elk is one of the great resources of the state. The elk herd’s range is currently believed to extend into parts of Elk, Cameron, McKean, Potter, Clinton, Centre & Clearfield counties with the central point of the herd being located in Elk and more specifically Benezette. All of these counties are in the Marcellus Shale region Nearly seven years into Pennsylvania’s Marcellus Shale drilling boom, wildlife officials say the state’s elk population continues to flourish despite concerns about industrial footprints, wildlife displacement and habitat degradation. “It hasn’t disturbed any habitat, in fact, it probably creates more than there was to begin with,” said Pennsylvania Game Commission elk biologist Jeremy Banfield, referencing companies who cover defunct well pads with grass, prime elk habitat. The elk population has nearly doubled since 2008, when the state’s Marcellus Shale drilling boom began, rising from 500 to more than 880 and increasing every ye
http://www.shaledirectories.com/blog/wildlife-outdoorsmen-love-shale-industry-pa/

Tuesday, December 8, 2015

The PA downstream is slowly but surely gearing up


The UGI’s Hunlock Creek facility energy plant has been switched over from coal to running 100% on natural gas. UGI invested more than $125 million to convert the energy plant due to regulations and the lower cost of natural gas as a fuel source. Besides burning cleaner for the environment, UGI estimates that by switching to natural gas, the plant is now able to produce enough for 100,000 homes – three times more than when it was fueled by coal. We’ve already posted about how Panda Power Funds is responsible for one of the largest coal to natural gas conversions in the U.S. The abundant supply of Marcellus Shale natural gas located nearby makes continued conversions, such as at the Hunlock Creek facility, a true no-brainer. The following post originally appeared on NaturalGasNow.org. It is authored by Donald Roessler – a landowner and gas lease holder in Washington County, Pennsylvania. ———- Panda Power Funds will make one of the largest coal to natural gas plant
http://www.shaledirectories.com/blog/the-pa-downstream-is-slowly-but-surely-gearing-up/

Friday, December 4, 2015

Seneca Gets a Partner in the Marcellus


National Fuel Gas’ Seneca Resources exploration and production unit has formed a joint venture with an affiliate of private equity firm IOG Capital and asset manager Fortress Investment Group to develop Marcellus Shale natural gas assets in Northcentral Pennsylvania.The JV could save Seneca roughly $380 million in drilling costs over two years, Kallanish Energy understands.Seneca and IOG will jointly participate in a drilling program to develop up to 80 Marcellus wells located on roughly 10,500 acres in Pennsylvania’s Clermont/Rich Valley area.IOG will hold an 80% working interest, is obligated to participate in the first 42 wells and has a one-time option to participate in the remaining 38 wells that can be exercised on or before July 1, 2016. IOG s obligation on the first 42 wells is expected to reduce Seneca s net capital expenditures by roughly $200 million in fiscal 2016, with an additional $180 million reduction spread across FY 2016 and 2017 if IOG participates in the remai
http://www.shaledirectories.com/blog/seneca-gets-a-partner-in-the-marcellus/

Monday, November 30, 2015

U.S. oil and gas reserves rise in 2014


U.S. crude oil/lease condensate proved reserves increased by 9%, to 39.9 billion barrels (BBbls), and natural gas proved reserves increased by 10%, to 389 trillion cubic feet (Tcf) in 2014, the U.S. Energy Information Administration said Monday.EIA, in its “U.S. Crude Oil and Natural Gas Proved Reserves” report, states U.S. crude oil/lease condensate proved reserves reached the highest level since 1972, and natural gas proved reserves surpassed 2013’s record level.Proved reserves are volumes of oil and natural gas that geologic and engineering data demonstrate with reasonable certainty to be recoverable under existing economic and operating conditions. Because they depend on economic factors, proved reserves shrink or grow as commodity prices and development costs change. EIA s estimates of proved reserves are based on an annual survey of domestic oil and natural gas well operators.Texas had the largest increase in proved reserves of crude oil and lease condensate, representing
http://www.shaledirectories.com/blog/u-s-oil-and-gas-reserves-rise-in-2014/

Thursday, November 19, 2015

Stand Up for American Energy by Participating in ENERGY NATION


2016 could be a turning point for American energy. Will increasingly well-organized attacks on energy result in policies that hinder or stop shale development? Or will our industry rally and win battles in the halls of government and at the ballot box? The best way to advance our industry in the policy arena is to get involved with Energy Nation. Our industry’s employee-powered advocacy community, Energy Nation is always free to join and participate. Once you sign up, Energy Nation will provide you with information, training, and tools that enable you to be an energy champion. By bringing your expertise and informed views to the debate, you’ll help our industry turn back challenges at the local, state, and national levels. Energy Nation advocacy isn’t just about fighting challenges. It’s also about seizing opportunities to expand American energy development. Right now, Energy Nation is pushing hard to lift the ban on oil exports. If we can sell to the world, we’ll see new in
http://www.shaledirectories.com/blog/stand-up-for-american-energy-by-participating-in-energy-nation/

Wednesday, November 18, 2015

Schlumberger – Cameron Merger Receive DOJ Approval


While the Halliburton – Baker Hughes deal is receiving considerable scrutiny by the DOJ, this deal seems to be sailing through. Oilfield services giants Schlumberger and Cameron International on Tuesday said the U.S. Department of Justice has cleared their proposed $14.8 billion merger, granting early termination of the waiting period mandated by the Hart-Scott-Rodino Act. The closing of the proposed merger remains subject to approval by Cameron stockholders, with a special shareholders’ meeting to vote on the deal scheduled for Dec. 17 Kallanish Energy reports. It is interesting that DOJ does not require either company to sell of any of its assets to approve the deal. Schlumberger and Cameron expect to close the merger in the first quarter of 2016. Joseph Barone www.ShaleDirectories.com The post Schlumberger – Cameron Merger Receive DOJ Approval appeared first on Shale Directories.
http://www.shaledirectories.com/blog/schlumberger-ce-doj-approval/

Friday, November 13, 2015

Magnum Hunter Warns of Potential Bankruptcy Filling


Independent oil and gas producer Magnum Hunter Resources (MHR), which has stopped paying dividends, is selling assets and has hired advisors to boost its sinking financial position, may be out of options. As part of its quarterly results filing with the U.S. Securities and Exchange Commission, the Irving, Texas-based company warned its only path could be Chapter 11. Like many of its brethren, Magnum Hunter is between the proverbial rock – the demand for capital to conduct its operations – and the hard place – the economic realities of collapsed oil and gas prices. “As of Sept. 30, 2015, the company had $6.5 million in cash and a working capital deficit of $1,037.2 million [$1.04 billion], “the SEC filing states. At Sept. 30, Magnum Hunter was in default under its senior revolving credit facility and second-lien credit agreement. During the first quarter, Magnum Hunter suspended all drilling and said it didn’t expect to resume until its liquidity position has been stabilize
http://www.shaledirectories.com/blog/magnum-hunter-warns-of-potential-bankruptcy-filling/

Tuesday, November 10, 2015

Eclipse Looking to Sell


Independent oil and gas producer Eclipse Resources is looking at a sale of the company, Bloomberg reported, citing anonymous sources. The State College, Pennsylvania-based company has been working with Morgan Stanley soliciting offers from competitors, Kallanish Energy understands. The company has been reaching out informally to potential suitors, but isn’t conducting a formal auction, the sources told Bloomberg. Eclipse has a market value of roughly $500 million. Representatives for Eclipse and Morgan Stanley declined to comment. Small, independent, cash-gobbling U.S. oil and gas producers, coping with depressed commodity prices, have been increasingly putting themselves on the block. Clayton Williams Energy said in October it is reviewing options and hired Goldman Sachs Group to explore a sale, while Rosetta Resources in July sold itself to Noble Energy for more than $3 billion. Eclipse, founded in 2011 with backing from private equity firm EnCap Investments, was one of numerous p
http://www.shaledirectories.com/blog/eclipse-looking-to-sell/

Monday, November 9, 2015

Apache Rejects Offer


The Houston, Texas-based Apache reportedly is working with financial adviser Goldman Sachs on defense, Bloomberg reported. The unnamed potential buyer sent a letter to Apache in the past few weeks and it’s unclear whether talks will resume, Kallanish Energy understands. A spokesman for Apache couldn’t be reached for comment. A deal for Apache would be the largest for an independent oil and gas producer in the U.S. this year. Noble Energy in July bought Texas shale driller Rosetta Resources for $3.9 billion, including assumed debt, in an all-stock transaction. Apache has under-performed in recent years, largely because of bad bets on major projects in Argentina and Australia that didn’t pan out. The company, which announced a new CEO in January, has been selling off properties in Texas and Australia. Apache had a third-quarter net loss of roughly $5.7 million, compared with a loss of about $1.3 million a year earlier. The company has cut its 2015 capital budget by more than 60% f
http://www.shaledirectories.com/blog/apache-rejects-offer/

Thursday, November 5, 2015

SandRidge Buys into the Niobrara


SandRidge Energy is acquiring the assets of privately-held EE3 in the Niobrara Shale for $190 million in cash, Kallanish Energy learns. With the deal, independent producer SandRidge said it will have a material, de-risked Niobrara Shale position in the North Park Basin in Jackson County, Colorado. The 136,000 acres acquired is largely concentrated in a rural areas “ideal for pad drilling and efficient infrastructure installation.” “Expanding into a proven, high quality, repeatable oil play leverages our core competencies in medium depth horizontal drilling, unconventional development, infrastructure, and cost reduction,” said James Bennett, SandRidge CEO. “We will be mobilizing to spud our first well in January. The buy includes a large, concentrated acreage position in Niobrara Shale play that has five stacked benches at depths of 5,500 to 9,000 feet, reservoir thickness over 450 feet, oil in place greater than 55 million barrels per section and an overpressured reservoir,
http://www.shaledirectories.com/blog/sandridge-buys-into-the-niobrara/

Tuesday, October 27, 2015

Duke Buys Piedmont Natural Gas


Duke Energy, the largest U.S. power company by generation capacity, said Monday it’s acquiring Piedmont Natural Gas for $6.7 billion in cash and debt assumption, expanding by 66% its natural gas distribution business. Duke offered $60 in cash for each Piedmont share, representing a premium of roughly 42% to the stock s Friday close, Kallanish Energy calculates. Duke will assume roughly $1.8 billion of Piedmont s net debt. This combination provides us with a growing natural gas platform, benefitting our customers, communities and investors, said Lynn Good, Duke’s CEO. Stable natural gas pricing has prompted a number of U.S. power producers to boost their natural gas infrastructure and lower dependence on power generation as demand for electricity weakens due to increased energy efficiency. Southern Co. said in August it would buy AGL Resources for roughly $8 billion in cash. Duke currently sells power to 7.3 million customers in North and South Carolina, Florida, Indiana, Ohio and
http://www.shaledirectories.com/blog/duke-buys-piedmont-natural-gas/

Thursday, October 22, 2015

Virtual Pipelines: American Ingenuity at Its Best


Our friends at Marcellus Drilling News (www.marcellusdrilling.com ) reported a new phenomenon in the oil and gas industry “virtual pipelines.”  MDN had found that a paper mill in upstate New York converted to natural gas and could net get it from a pipeline so it decided to have compressed natural gas (CNG) trucked in, hence the birth of a virtual pipeline. What does a virtual pipeline mean to the environment?  The more fossil fuels will be used to haul the CNG to the plant.  Then there is the every present danger of truck hauling CNG on the highways and local roads.  Life would be so much better and safer if the pipelines would get built. MDN further reported that on the heels of the paper mill announcement it found a second virtual pipeline announcement. A company based in Florida called Pentagon Energy announces they’ve just scored their first contract–in the Marcellus Shale–to build a CNG “Mother Station” (think central hub) that will truck 2.5 billion cubic feet
http://www.shaledirectories.com/blog/virtual-pipelines-american-ingenuity-at-its-best/

Antero Resources Selects Veolia


Independent producer Antero Resources said Thursday it has selected French company Veolia to design, build and operate a $275 million water treatment complex in the Appalachian Basin, Kallanish Energy learns. Recycling the produced water from shale oil & gas production will save Denver, Colorado-based Antero to save roughly $150,000 per well, as well as reduce risk and cost associated with long-distance hauling of water for deep-well injection. The facility, located in Doddridge County West Virginia (roughly 120 miles south of Pittsburgh, Pennsylvania), will treat and recycle 2.51 million gallons a day of flowback and produced water. The companies also signed a separate 10-year pact under which Veolia will operate and manage the plant. Planned to enter service at the end of 2017, the future plant will eventually treat and recycle 60,000 barrels of produced water a day. Antero will own the treatment assets and ancillary facilities to be constructed by Veolia over the next two years. No
http://www.shaledirectories.com/blog/antero-resources-selects-veolia/

Tuesday, October 20, 2015

It Is Going To Get Worse Before It Gets Better


After reading comments from OilPro about Halliburton conference call, it seems like the scenario for the oil and gas industry is as follows: • The production budgets have been spent. Look for less activity in the 4th quarter and the rig count increasing. Both Halliburton and OilPro think the on land rig count get down to 600 by the end of the year. • With the start of the New Year in 2016, drillers will have new production budgets which means drilling will pick up. The common strategy for the E&P companies is “drill or die” which means they will be drilling once the new budgets go into effect. • Here’s comments • The projected low rig count should mean that the price of oil should move up a little. Let’s hope so. Here s an interesting perspective from Dave Lesar from OilPro. I think there s actually a different way you need to think about the customer base in North America, especially the independent customer base. And that s essentially with the high decline curves th
http://www.shaledirectories.com/blog/it-is-going-to-get-worse-before-it-gets-better/

Hess reportedly selling its 50% JV stake in Utica Shale assets


Oil and gas producer Hess, which over the last few years has remade itself into an exploration and production company, shedding millions of dollars in assets, reportedly is seeking buyers for its Utica Shale play assets. The New York-based explorer is working with Goldman Sachs to solicit bids for the assets, which could bring in up to $500 million, Kallanish Energy understands. The asset for sale is the company’s 50% stake in its joint venture with Consol Energy. In the Utica, Hess has a 50% working in 45,000 acres, with net production in 2015 between 20,000 and 25,000 barrels of oil-equivalent per day. It reduced its active rigs in the region to one from two. Representatives for Hess and Goldman Sachs declined to comment. Hess, once an integrated energy company, has been remaking itself into an E&P since settling a proxy battle in 2013 with activist investor Elliott Management. It sold its gas-station network and is spinning off its pipeline operations. The company sold some Utica
http://www.shaledirectories.com/blog/hess-reportedly-selling-its-50-jv-stake-in-utica-shale-assets/

Monday, October 19, 2015

Fracking Does Not Contaminate Drinking Water, Says New Yale Study


Environmentalist opposition to fracking undeterred by data It actually pains me to disagree with celebrity Mark Ruffalo who has talked against fracking.   I’ll blame the egoistical Josh Fox for spreading and promoting misinformation. Hopefully Mark will sit up and ‘read for himself’ reports from Yale University who drafted a report regarding findings, none of which lead to widespread systemic impacts on drinking water resources in the United States. Of course like any other industry process fracking needs to be correctly monitored. Environmental activists continue to claim that fracking (the use of horizontal drilling with high-pressure water) to unlock vast stores of natural gas and oil from shale formations contaminates drinking water. They hint that natural gas and the constituents of fracking fluids migrate through cracks from the shale formations into drinking water wells. In fact, intensive research efforts have yet to confirm that any contamination that has occurred in
http://www.shaledirectories.com/blog/fracking-does-not-contaminate-drinking-water-says-new-yale-study/

Friday, October 16, 2015

Commonwealth Court Supports the Fairfield Township and Inflections Energy LLC


The Commonwealth Court decision, in the case of B. Gorsline, et al. v. Board of Supervisors of Fairfield Twp. v. Inflection Energy, LLC, et al. – 1735 C.D. 2014, was an important victory for natural gas development. The decision established some extremely important precedents with big fracking implications going forward.  The essence of the original complaint filed against Fairfield Township Supervisors was a  local neighbor s opposition to construction traffic that would pass their residence on the way  to the proposed Inflections site.  They challenged the approval of the application (permitting) by Fairfield Township and appealed to the Lycoming County Court of Common Pleas where it inexplicably got assigned to a local judge  overturning the Township’s approval. Fairfield Township Zoning Map – Notice that R-A District (yellow) encompasses the bulk of the Township and prohibiting development there would have effectively excluded it from the Township. The Commonwealth Cou
http://www.shaledirectories.com/blog/commonwealth-court-supports-the-fairfield-township-and-inflections-energy-llc/

Thursday, October 8, 2015

Gulfport and Rice Energy Form Midstream JV


Independent producers Rice Energy and Gulfport Energy said Thursday the companies are forming a joint venture to develop midstream assets to support Gulfport s dry gas Utica Shale development in eastern Ohio. Rice and Gulfport plan to invest roughly $520 million to develop gathering and compression assets and $120 million for water assets within the JV over the next six years. Initial construction of the system is expected to begin immediately and first deliveries are planned for mid-2016. “We are excited about furthering our midstream relationship with Gulfport across their position in the core of the Ohio Utica Shale,” said Daniel J. Rice IV, CEO of Rice. The JV will be supported by long-term, fee-based service agreements with Gulfport, Kallanish Energy understands. Rice will own 75% of the JV and be responsible for constructing and operating the JV s assets. “Gulfport has a strong history with Rice in the Utica Shale and we are excited to expand our relationship by creating f
http://www.shaledirectories.com/blog/gulfport-and-rice-energy-form-midstream-jv/

Tuesday, October 6, 2015

North American E&Ps Risk Financial Stress


North American E&Ps risk financial stress having missed the price hedge window Many North American exploration and production (E&P) companies – particularly small and mid-size firms risk financial stress, as just 11% of 2016 production is hedged, according to analysis by IHS. The “IHS Energy North American E&P Peer Group Analysis: Hedging Protection Set to Plunge in 2016,” assessed the amount of oil and gas hedging protections in place for 48 small, midsize and large North American E&P companies for the second-half of 2015 and full-year 2016. Overall hedging for second-half 2015 was largely unchanged from previous IHS analysis the North American E&Ps have 28% of total production hedged for the remainder of the year. The weighted-average hedged prices the group has in place for 2016 are $69.04 per barrel (Bbl) of oil and $3.83 per thousand cubic feet (Mcf) of gas. The small and mid-sized E&Ps increased 2016 hedging the most during the first-half of 2015, while the large E&Ps rema
http://www.shaledirectories.com/blog/north-american-eps-risk-financial-stress/

Monday, October 5, 2015

Midstream PA 2015


The second annual Midstream PA was very informative with presentations from representatives from Sunoco Logistics, Williams, MarkWest, UGI, Southwestern Energy, McNees, Wallace & Nurick, Dawood Engineering, PA Department of Community and Economic Development and Penn State’s Marcellus Center for Outreach and Research. The combination of industry and government at the event gave the attendees a look at what is happening now, but more importantly what is coming in 2016 and beyond. Some of the more interesting remarks: Everyone expects the big pipeline projects to continue with the only slowdown coming from acquiring permits. Some of the smaller midstream projects may get pushed a little. PA Pipeline Task Force’s comments: The primary focus of the report will be on gathering lines. The members of the task force are from the industry, business, government official from the state and local level and academia. The first draft of the report is due November 2nd. With the complete report d
http://www.shaledirectories.com/blog/midstream-pa-2015/

ECONOMIC GROWTH WIDESPREAD ACROSS METROPOLITAN AREAS IN 2014


Advance 2014, and Revised 2001–2013 GDP-by-Metropolitan-Area Statistics Real GDP increased in 282 of the nation s 381 metropolitan areas in 2014, led by growth in several industry groups: professional and business services, wholesale and retail trade, and the group of finance, insurance, real estate, rental, and leasing. Natural resources and mining remained a strong contributor to growth in several metropolitan areas. Collectively, real GDP for U. S. metropolitan areas increased 2.3 percent in 2014 after increasing 1.9 percent in 2013. Professional and business services contributed 0.61 percentage point to U.S. metropolitan area real GDP growth in 2014. This industry contributed to growth in 314 of the nation s 381 metropolitan areas. Growth in this industry accounted for more than half of real GDP growth in 49 metropolitan areas, and contributed more than one percentage point to growth in 28 metropolitan areas, most notably in Midland, MI (4.56 percentage points) and San Francisco
http://www.shaledirectories.com/blog/economic-growth-widespread-across-metropolitan-areas-in-2014/

Thursday, October 1, 2015

Patriot Begins Drilling in the Permian


Dallas-based oil and gas company Patriot Energy said Tuesday it has begun drilling operations at its 440-acres Thoroughbred-1 prospect, in eastern Permian Basin, West Texas, Kallanish Energy understands.The Thoroughbred-1 well targets multiple potential pay zones including the Strawn Lime, Cline shale, Cisco sands, Triple M Credo, Middle Wolfcamp and Albaugh. Drilling should be completed in three weeks, reaching roughly 9,000 vertical feet in early October.Patriot Energy’s President, Michael Miller, believes the Permian Basin multiple pay zones wells “offer very attractive potential, even at today’s oil prices.”“The economics are acceptable today, and we believe prices will eventually find their way back up to a more normal level,” added Miller.The shale producer is currently extending its operations on a farm-out lease, which will encompass at least 8 prospects, with the option to further drill out remaining acreage.According to Patriot, other wells near the farm-out leas
http://www.shaledirectories.com/blog/patriot-begins-drilling-in-the-permian/

Monday, September 28, 2015

Energy Transfer perseveres, acquiring Williams in $37.7 billion deal


Energy Transfer Equity (ETE) persevered in its nine-month effort to acquire fellow pipeline giant Williams, with the buyer agreeing to pay $37.7 billion for control of pipelines and plants that handle roughly 33% of U.S. natural gas demand. Williams investors will get $43.50 a share either in cash or stock in Energy Transfer Corp., an affiliate of Energy Transfer Equity, Kallanish Energy understands. Williams has canceled its May offer to buy all stock it doesn’t own in its affiliate, Williams Partners. The $43.50/share price represents a 4.6% premium to the Williams closing price on Sept. 25. The deal ends a nine-month gestation period fronted by Dallas billionaire Kelcy Warren that became public in June, when Williams rejected Energy Transfer’s first offer as too low, and began seeking other suitors for the company. Williams’ biggest asset, both literally and figuratively, is Transco, the largest U.S. gas pipeline system. It connects the Marcellus Shale/Appalachian Basin to po
http://www.shaledirectories.com/blog/energy-transfer-perseveres-acquiring-williams-in-37-7-billion-deal/

Friday, September 25, 2015

Pipeline Resistance


I do not know how many of you know the steps being taken across the Midwest and Northeast to stop pipeline construction. Everywhere I travel I hear about it and the troubles the midstream companies are having.   There are numerous Google Alerts which identify stories about communities, organizations and individuals trying to stop pipeline construction. Pipeline construction is critical for the Marcellus and Utica to evolve to the next phase of development. The need for less expensive Marcellus and Utica natural gas in New England and the Southeastern parts of the U.S. is very important to the economic growth of these regions. I read an article yesterday about the dire situation in Boston regarding natural gas. Bostonians pay the highest natural gas prices in the U.S. In January and February, they were paying $24.09 per million BTU’s in PA the price was $3.37. In the previous winter, customers saw their monthly electric bills, already double the national average, rise a whopping 37
http://www.shaledirectories.com/blog/pipeline-resistance/

Thursday, September 24, 2015

Questar subsidiary Wexpro forms drilling JV to develop natural gas Piceance Basin assets


Salt Lake City, Utah-based Questar on Tuesday said its Wexpro subsidiary has formed a joint venture with Laramie Energy II’s Piceance Energy unit to develop natural gas-producing assets in western Colorado’s Piceance Basin. Wexpro expects to spend $60 million to $70 million on an 80-well drilling program targeting the Mesaverde formation, Kallanish Energy finds. The partners will begin drilling in the Collbran Valley in Mesa County, Colorado, in October, and continue through early 2017. The JV also provides Wexpro options to acquire development rights for deeper formations and, with mutual consent, to significantly extend and expand the drilling program up to 300 wells, depending on commodity prices. “We are excited to partner with Laramie Energy,” said Ron Jibson, Questar’s CEO. “Laramie’s extensive experience in the Piceance Basin and our historic success in exploring and developing reserves in the Mesaverde formation in other basins of the Rockies is a good match.”
http://www.shaledirectories.com/blog/questar-subsidiary-wexpro-forms-drilling-jv-to-develop-natural-gas-piceance-basin-assets/

Monday, September 21, 2015

Oil-related projects worth $1.5 trillion unlikely to be built, Wood Mackenzie projects


Oil-related projects in North America worth roughly around $1.5 trillion are now considered uneconomic and are unlikely to be brought online, according to a report published Monday by consultant Wood Mackenzie. Oil producers are targeting cost cuts of roughly 20%-30% due to the biggest slump in oil prices since the 1980s, but they also have slashed investment programs and defer projects that remain too expensive at crude s current price level of around $50 a barrel. Spending is down by $220 billion for 2015 and 2016, compared with Wood Mackenzie’s pre-oil-price-crash projections, Kallanish Energy finds. Much of the drop in spending has been focused on projects onshore North America. Additional measures are needed to manage costs, said James Webb, Wood Mackenzie s Upstream research manager, warning that simply squeezing the service sector won t be sufficient to meet the industry s cost-reduction goals. The consultancy said most new oil projects remain uneconomic. Wood Mackenzie estim
http://www.shaledirectories.com/blog/oil-related-projects-worth-1-5-trillion-unlikely-to-be-built-wood-mackenzie-projects/

Tuesday, September 15, 2015

Williams announces $350,000 in Atlantic Sunrise Community Grants


With hopes that our politicians in Harrisburg working to approve a balanced budget (we heard we’ll see snow before a PA budget is approved) are aware of the generosity of Williams, a pipeline company now working in PA.   While it may not seem like much each recipient will now be able to fund much needed projects in community.   Thank you Cabot for sharing this information and your generous contributions throughout PA.   For more information about Cabot visit, www. http://wellsaidcabot.com. Williams announces $350,000 in Atlantic Sunrise Community Grants Williams today announced the recipients of the Atlantic Sunrise Community Grant Program, awarding more than $350,000 to 49 organizations that reside in, and/or provide services to communities where the proposed Atlantic Sunrise project would be constructed and operated. Grants up to $10,000 per applicant were awarded to eligible organizations to fund projects that provide benefit to local communities or the environmental. “Th
http://www.shaledirectories.com/blog/williams-announces-350000-in-atlantic-sunrise-community-grants/

DOJ sees problems with Halliburton’s deal for Baker Hughes


Halliburton’s efforts to gain regulatory approval of its $35 billion buyout of Baker Hughes may have gotten a bit tougher, the “New York Post” reported. Houston-based oil-field services company Halliburton must find a single buyer for roughly $7.5 billion of assets which must be divested — instead of selling them to different suitors, the Department of Justice has determined, two sources close to the situation said. Last November, Halliburton, in announcing the deal that would combine the No. 2 and No. 3 oilfield service companies (behind Schlumberger), agreed to sell businesses that generate up to $7.5 billion in revenue. Justice’s single-buyer mandate leaves the $31.7 billion market-cap company with few options other than selling the package of assets to General Electric or Siemens, sources said. “Finding a single buyer will be a challenge,” a source close to the situation — and not directly working for or against the deal — said, according to the Post. Last week,
http://www.shaledirectories.com/blog/doj-sees-problems-with-halliburtons-deal-for-baker-hughes/

Thursday, September 10, 2015

U.S. natural gas production in August held at July levels


U.S. natural gas production in August held at July levels at 72.1 Bcf/d: Bentek Natural gas production in the Lower 48 States averaged 72.1 billion cubic feet per day (Bcf/d) in August, down less than 1% compared to the July average, according to Bentek Energy. U.S. rig activity, which surged forward in late July continued to strengthen in August, topping 1,000 active rigs for the first time since April and averaging roughly 1,015 rigs, said Sami Yahya, a Bentek energy analyst. Most of the increase in active rig count came from the Permian, where the region added 21 rigs over the July number for a total of 276 rigs. Yahya noted there is a close correlation between the number of active rigs and West Texas Intermediate (WTI) spot prices, where directionally the former typically follows the latter after a two- or three-month of lag. The jump in Permian active rigs seen in August can likely be attributed to WTI prices topping the $60/Bbl mark back in May and June, said Yahya, And as inter
http://www.shaledirectories.com/blog/u-s-natural-gas-production-in-august-held-at-july-levels/

Wednesday, September 2, 2015

ConocoPhillips cutting 1,800 jobs, as oil price plunge continues


ConocoPhillips, the fourth-largest U.S. oil company, plans to reduce its workforce by 10%, the latest example of the impact of the ongoing impact of low crude oil prices. A majority of the 1,800 jobs being lost will come from North America, including more than 500 from Houston, Daren Beaudo, a spokesman for the Houston-based oil and gas producer, said Tuesday. “Our industry is undergoing a dramatic downturn, which has caused us to look at our future workforce needs,” he said. The announced cuts at ConocoPhillips comes only months after a first round of cuts reduced staff by 5%. The cumulative impact of the reductions, to be felt most severely in North America, will be roughly 2,810 jobs, Kallanish Energy finds. As oil prices have plunged by more than half since last year’s high, energy companies around the world have laid off more than 120,000 workers and reduced spending by more than $114 billion. ConocoPhillips’s cuts follow earlier reductions at exploration-production and s
http://www.shaledirectories.com/blog/conocophillips-cutting-1800-jobs-as-oil-price-plunge-continues/

Monday, August 31, 2015

How to Keep Your Business Current on Oil and Gas Developments?


The price swings in the oil market are making it difficult for companies to plan on numerous levels. While the price swings are daunting enough, in many states and on the federal level, the more regulations and new taxes are making the decision-making more vexing. The only way for businesses to cope in this environment is to keep informed. This fall there are a number of expos, conferences and seminars with industry speakers and government officials. The focus of these events deals with all facets of the supply chain – upstream, midstream and downstream in the Marcellus, Utica and Eagle Ford Shale Plays. One of your key takeaways from these events should be to support the industry. It seems the industry is under attack more than ever with a special focus on the midstream business. Many communities and businesses through the east coast want the lower priced Marcellus and Utica natural gas, but when it comes to pipeline construction, the “NIMBY” (Not In My Backyard) effect takes h
http://www.shaledirectories.com/blog/how-to-keep-your-business-current-on-oil-and-gas-developments/

Friday, August 28, 2015

Observations on Oil and Natural Gas Price Swings


As you know, I’m relatively new to the oil and gas industry. We started Shale Directories in November 2009. This sharp price decline in oil is the first one I experienced since we started Shale Directories. We saw a deep price decline in natural gas in 2012 when it went under $2.00. It has recovered somewhat, but seems to be locked in a trading range from $2.65 to $3.00. In fact, natural gas has weathered the current declines pretty well. In looking at the current state of the oil and gas industry, here are some of my thoughts: • The price of oil. It dipped below $40 this week, but seems to be rebounding. The question is where is the new “norm.” I’ve heard $60 a barrel is the new $100 a barrel. How long can the Saudis continue to keep pumping to keep prices depressed? It may not too much longer. Here are some observations: o The Saudis have issued bonds recently for the first time in since 2007 and more bond issues could be in the future. (Shale Directories, 8/15/15) o Saudi
http://www.shaledirectories.com/blog/observations-on-oil-and-natural-gas-price-swings/

Thursday, August 27, 2015

Wet vs. Dry Gas – What can you do with it?


As part of our partnership with the folks at Sunoco Logistics to explore the similarities and differences between wet and dry natural gas, today we are taking a look at the use possibilities.  If you missed the first infographic, be sure to check out this post which explains the difference between the two types of natural gas produced in the Marcellus. Natural gas liquids are the building blocks of many products When wet natural gas is produced, it must be processed to separate the different components it contains, such as water and hydrocarbons. Natural gas liquids, such as butane, ethane and propane, are other forms of hydrocarbons, which can be used for many different products. Butane is commonly known as the flammable liquid in handheld lighters, propane is often used for heating in homes or as a fuel source for grills and propane is a chemical building block found in many different kinds of plastic products we use every day. The average American citizen will come into contact wi
http://www.shaledirectories.com/blog/wet-vs-dry-gas-what-can-you-do-with-it/

Wednesday, August 26, 2015

Schlumberger acquiring Cameron in $14.8 billion cash and stock deal


Schlumberger, the world’s largest oilfield services company, and fellow services firm Cameron, originator of the oilfield blowout preventer, said Wednesday they’re merging in a $14.8 billion cash and stock deal. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on Aug. 25, the deal values Cameron at $66.36 per share – a 37% premium to Cameron s 20-day volume weighted average price of $48.45/share, and a 56.3% premium to Cameron s most recent closing stock price of $42.47/share. Upon closing, Cameron shareholders will own roughly 10% of Schlumberger s outstanding common shares, Kallanish calculates. We believe that the next industry technical breakthrough will be achieved through integration of Schlumberger s reservoir and well technologies with Cameron s leadership in surface, drilling, processing and flo
http://www.shaledirectories.com/blog/schlumberger-acquiring-cameron-in-14-8-billion-cash-and-stock-deal/

Tuesday, August 25, 2015

Canada’s Encana selling Haynesville natural gas assets for $850 million


Canada’s Encana said Tuesday its Encana Oil & Gas (USA) unit is selling for $850 million its Haynesville natural gas assets to a joint venture formed by GeoSouthern Haynesville and GSO Capital Partners-managed funds. Through transfer of current and future obligations, Calgary-based Encana will reduce its gathering and midstream commitments by roughly $480 million on an undiscounted basis. Buyer and seller also have agreed to Encana transporting and marketing GeoSouthern s Haynesville production on a fee-for-service basis for the next five years. Encana said it will use the cash to reduce its net debt. This transaction delivers significant proceeds that we ll use to strengthen our balance sheet,” said Doug Suttles, Encana CEO. “In addition, it eliminates our midstream commitments in the Haynesville and captures ongoing revenue upside through a gas marketing arrangement. Encana s Haynesville natural gas assets include roughly 112,000 acres of leasehold, plus additional fee mineral
http://www.shaledirectories.com/blog/canadas-encana-selling-haynesville-natural-gas-assets-for-850-million/

Friday, August 21, 2015

America Works on Misleading the Public


The following was originally posted to the Commonwealth Foundation‘s blog on July 13, 2015 by Bob Dick and Nathan Benefield. Although posted more than a month ago, this information is still extremely relevant and worth sharing.You can follow the Commonwealth Foundation on Twitter at @Liberty4PA.——-America Works USA, an affiliate of the union-funded Democratic Governors Association, recently launched an ad campaign in support of Gov. Wolf’s effort to raise taxes on middle- and low-income people.
http://www.shaledirectories.com/blog/america-works-on-misleading-the-public/

Wednesday, August 19, 2015

America Works (On Misleading the Public)


Guest Post: America Works (On Misleading the Public)The following was originally posted to the Commonwealth Foundation‘s blog on July 13, 2015 by Bob Dick and Nathan Benefield. Although posted more than a month ago, this information is still extremely relevant and worth sharing.You can follow the Commonwealth Foundation on Twitter at @Liberty4PA.——-America Works USA, an affiliate of the union-funded Democratic Governors Association, recently launched an ad campaign in support of Gov. Wolf’s effort to raise taxes on middle- and low-income peopleThe group, bolstered by a war chest of at least $500,000, took to the airwaves with radio and TV ads slamming the Republican budget and touting Gov. Wolf’s budget as a practical alternative. Regrettably, the ads are chock-full of misinformation. Although the ads aren’t very long, we identified seven erroneous claims, each of which are corrected below.Claim #1: The Republicans’ budget lets oil and gas drillers “of the hook.”R
http://www.shaledirectories.com/blog/america-works-on-misleading-the-public/

Antero contracts for $275 million wastewater treatment complex in West Virginia


Oil and gas independent Antero Resources has contracted with Veolia Water Technologies to design-build a $275 million wastewater treatment complex in Doddridge County, West Virginia.The complex includes a 60,000 barrel per day (BPD) facility that will allow Antero to treat and reuse flowback and produced water rather than permanently dispose of the water via injection wells, Kallanish understands. Denver, Colorado-based Antero will own the treatment assets including ancillary facilities. The complex will be centrally located in Antero s footprint in the southwestern core of the Marcellus Shale play with the ability to serve the company s development in both the Marcellus and Utica Shale plays.One of the largest players in the Marcellus and Utica, Antero owns roughly 410,000 acres in the Marcellus in northern West Virginia/southwesten Pennsylvania. In the Utica, Antero owns more than 149,000 acres in eastern Ohio.  Our concentrated acreage position in the core of the Marcellus and
http://www.shaledirectories.com/blog/antero-contracts-for-275-million-wastewater-treatment-complex-in-west-virginia/

Thursday, August 13, 2015

Expanded Dry Gas Gathering System in Utica Shale Play


MarkWest, EMG expanding Utica gas-gathering capabilities via new $1 billion projectMarkWest Energy Partners and The Energy & Minerals Group (EMG) late Wednesday announced development of a new $1 billion dry gas gathering system in the Utica Shale, Kallanish reports.The system will be underpinned by a long-term, fee-based contract with Ascent Resources–Utica, a subsidiary of former Chesapeake Energy CEO And co-founder Aubrey McClendon’s Ascent Resources. The producer has dedicated roughly 100,000 acres in northern Belmont and Jefferson counties, Ohio, to the system.Dry-gas production from Ascent’s acreage is expected to support the system’s initial growth; however, the new system will also gather dry gas from other producers, according to the partners.“Our system will be a critical new gathering option, and we anticipate total investment could exceed $1 billion over the next three years,” said Frank Semple, MarkWest CEO.The system will be designed to gather more than 2 bi
http://www.shaledirectories.com/blog/expanded-dry-gas-gathering-system-in-utica-shale-play/

Wednesday, August 12, 2015

Marcellus Shale Play Creates Need For Pipelines


Marcellus creates need for restructured existing & new pipelinesWith the recent shale natural gas production success in Pennsylvania, more pipelines and added infrastructure are needed to get the gas from where it is extracted to the customer in a timely manner. Due to this growing need, a new wave of natural gas pipeline projects are set to break ground in the next three years in order to transport this gas to citizens in Pennsylvania, Ohio, West Virginia and beyond.In addition, other destinations for this gas “are varied, and in addition to New England, some are targeting the Midwest, eastern Canada and the South” said Matthew Piatek, Associate Director of North American Natural Gas for IHS, which tracks current energy markets. The needs for these new pipelines are especially great in New England and New York in order to heat homes during their harsh winters.New Waves of PipelineIn the past, natural gas pipelines have traditionally flowed from extraction areas in the south and w
http://www.shaledirectories.com/blog/marcellus-shale-play-creates-need-for-pipelines/

Tuesday, August 11, 2015

Crude oil, natural gas production projected to fall between August, September: EIA


All the job cuts, all the rig laydowns, all the cuts in capital expenditures by producers continue to negatively impact America’s oil and natural gas industry.Overall crude oil production is projected to drop 93,000 barrels per day (BPD), from 5.36 million barrels per day (MMBPD) in August, to 5.27 MMBPD in September, Kallanish finds.Total production in June reached 5.58 MMBPD, according to the U.S. Energy Information Administration’s Drilling Productivity Report for August. The monthly report examines production in the country’s seven most prolific plays, including the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian and Utica.New well production is expected to rise from an estimated 433,000 BPD this month, to 434,000 BPD in September. Production from new wells was pegged at 404,000 BPD in June.Since June, total production has dropped 31,000 BPD and new production has risen by 30,000 BPD. The productivity report shows natural gas production from August to Septemb
http://www.shaledirectories.com/blog/crude-oil-natural-gas-production-projected-to-fall-between-august-september-eia/

Monday, August 10, 2015

Working-rig count edges up in latest Baker Hughes survey


The number of drill rigs working onshore in the Lower 48 States last week rose less than 1%, led by an 8-unit increase in Texas, the weekly Baker Hughes rig survey reveals.At Aug. 7, the number of rigs working onshore excluding Alaska and Hawaii totaled 832, up from 826 on July 31, Kallanish finds.Looking at week-to-week comparisons, 12 areas of the country tracked by Baker Hughes reported an uptick in rigs working, while 11 areas recorded a drop, and another 11 areas saw no change.Texas, where 46% of all Lower 48 onshore rigs are working, reported eight more rigs working last week compared to two weeks ago.The state is divided into 12 areas for the Baker Hughes weekly survey. Last week, three in-state areas each reported a one-rig decrease, another three reported no change, and six areas recorded an increase in working rigs.Excluding Texas, Kansas reported the largest increase in working rigs, three, moving to 10 rigs drilling, up from seven one week earlier.The biggest decrease in w
http://www.shaledirectories.com/blog/working-rig-count-edges-up-in-latest-baker-hughes-survey/

Friday, August 7, 2015

Wet vs. Dry Natural Gas – What is the difference?


As most people know, Pennsylvania has unique geology that has helped make it the home of some of the largest-producing shale plays in the world. Roughly 75 percent of the Commonwealth sits on top of the Marcellus and Utica shales, each with their own distinct characteristics. Even across Pennsylvania the Marcellus varies in structure, depth, thickness and even the type of gas produced.One of the most interesting differences in the Marcellus is whether the natural gas produced is considered “wet” or “dry” when produced. That will make a difference in the end usage and products which can be created from the natural gas. Cabot’s operations are in an area of dry gas therefore to get a full perspective, we’ve partnered with the folks at Sunoco Logistics to gain a better understanding of the complexities and possibilities of the shale beneath our feet. Over the next few weeks we will be working with them to share infographics detailing the differences of wet and dry gas in the M
http://www.shaledirectories.com/blog/wet-vs-dry-natural-gas-what-is-the-difference/

Thursday, August 6, 2015

Rice reports strong production increase, but quarterly loss jumps


Cecil Township, Pennsylvania-based independent producer Rice Energy has been on the proverbial roll for more than 18 months.The company raised more than $1 billion in its IPO, it continues to successfully expand operations in the Marcellus and Utica Shale plays, and is a definite crowd favorite at conferences when sharing its success story.Unfortunately, low commodity prices are not a respecter of good companies. Rice on Thursday reported second-quarter production jumped by triple digits, but it lost $69.68 million, nearly nine times more red ink than the year-ago $7.92 million loss.Year-over-year production increases were huge. Natural gas production more than doubled, to 47.56 billion cubic feet (Bcf), and oil/natural gas liquids production jumped to 90,000 barrels from 1,000 Bbls.Net production averaged 529 million cubic feet-equivalent per day (MMcfe/d), a 120% year-over-year increase. We had a tremendous quarter operationally, significantly surpassing our expected production by c
http://www.shaledirectories.com/blog/rice-reports-strong-production-increase-but-quarterly-loss-jumps/

Tuesday, July 28, 2015

Goodrich sells proved reserves


Goodrich sells proved reserves, piece of Eagle Ford leasehold in $118 million dealIndependent oil and gas producer Goodrich Petroleum said Monday it’s selling to an unidentified buyer its proved reserves and associated leasehold in the Eagle Ford Shale for $118 million.The Houston, Texas-based company is retaining approximately 58% (roughly 17,000 acres) of its undeveloped leasehold in the play in Texas’ LaSalle and Frio counties for future development or sale, Kallanish understands.Assets being sold produced an average of roughly 2,850 barrels of oil-equivalent per day (BOE/d, approximately 75% oil) during the first quarter.The company said it expects to book a gain of roughly $50-60 million on the sale at closing, with the funds used to pay off its bank revolver, retaining the difference in cash. The monetization of our proved reserves and associated acreage from our drilling efforts to date greatly improves our liquidity while maintaining a position in the Eagle Ford for future
http://www.shaledirectories.com/blog/goodrich-sells-proved-reserves/

Friday, July 24, 2015

Fairway Energy Partners to construct crude oil storage in Houston


Crude oil storage company Fairway Energy Partners on Thursday announced the closing of an undisclosed amount of private equity financing from Haddington Ventures, with proceeds to be used to construct the first phase of the Pierce Junction crude oil storage facility.Fairway will convert three existing underground storage caverns at the Pierce Junction Salt Dome in south Houston, Texas, into crude oil storage service and will build-out all requisite pipelines, brine ponds, interconnects and pumping capacity to put the facility into commercial service, Kallanish learns.The initial phase of the project is expected to be in service by the end of 2016 and has been designed to allow for storage of roughly 10 million barrels (MMBbl). Overall, Fairway has expansion rights up to a total of approximately 20 MMBbl at Pierce Junction.Phase I also includes the construction of two separate bi-directional, 24-inch pipelines to connect the facility to the existing Houston area crude oil grid, adding
http://www.shaledirectories.com/blog/fairway-energy-partners-to-construct-crude-oil-storage-in-houston/