Tag Archives: NGL

Approach Resources Inc. Announces Preliminary Production for First Quarter 2013 and Schedules First

By Business Wirevia The Motley Fool

Filed under:

Approach Resources Inc. Announces Preliminary Production for First Quarter 2013 and Schedules First Quarter 2013 Conference Call for Friday, May 3, 2013

FORT WORTH, Texas–(BUSINESS WIRE)– Approach Resources Inc. today announced preliminary production for first quarter 2013 of 754 MBoe (8.4 MBoe/d), compared to 654 MBoe (7.2 MBoe/d) produced in first quarter 2012, a 15% increase. Estimated oil production for first quarter 2013 increased 63% to 310 MBbls, compared to 191 MBbls produced in first quarter 2012. Estimated production for first quarter 2013 was 41% oil, 28% NGLs and 31% natural gas, compared to 29% oil, 33% NGLs and 38% natural gas in first quarter 2012.

As previously reported, estimated production for first quarter 2013 was impacted by a third-party NGL fractionation facility repair and maintenance, decreasing our average volumes by approximately 6.1 MBoe/d beginning the second week in March. As of April 6, 2013, substantially all production was back online. Turnaround activity for NGL fractionators along the Gulf Coast typically occurs during the spring season. We currently do not expect further downtime as a result of this activity, but will provide an update if conditions change.

Beginning April 3, 2013, we began flowing oil down our joint venture pipeline, which is a 38-mile pipeline primarily in Crockett and Reagan counties. We expect that the oil pipeline will enable the Company to efficiently transport our crude oil production to market, reduce our transportation differential and provide optionality for accessing markets with superior price realizations.

Conference Call Scheduled for May 3, 2013

Approach will host a conference call on Friday, May 3, 2013, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) to discuss first quarter 2013 financial and operating results. The Company plans to issue first quarter 2013 results after market close on Thursday, May 2, 2013.

To participate in the conference call, domestic participants should dial (866) 783-2138 and international participants should dial (857) 350-1597 approximately 15 minutes before the scheduled conference time. To access the simultaneous webcast of the conference call, please visit the Calendar of Events page under the Investor Relations section of the Company’s website, www.approachresources.com,15 minutes before the scheduled conference time to register for the webcast and install any necessary software. The webcast will be archived for replay on the Company’s website until August 1, 2013.

In addition, the Company will host a telephone replay of the call, which will be

From: http://www.dailyfinance.com/2013/04/15/approach-resources-inc-announces-preliminary-produ/

Range Announces First Quarter Production Results

By Business Wirevia The Motley Fool

Filed under:

Range Announces First Quarter Production Results

Production Grows 34% Quarter Over Quarter

FORT WORTH, Texas–(BUSINESS WIRE)– RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that its first quarter 2013 production volumes reached a record high of 876 Mmcfe per day, a 34% increase over the prior-year quarter. Production was 79% natural gas, 14% natural gas liquids (“NGLs”) and 7% crude oil and condensate. Year-over-year oil and condensate production increased 52%, NGL production rose 22%, while natural gas production increased 34%. The record production was driven by the continued success of the Company’s drilling program primarily in the Marcellus Shale. First quarter production of 876 Mmcfe per day exceeded the high end of guidance of 845 – 850 Mmcfe per day due to the timing of turning wells to production.

The Company also announced its preliminary first quarter 2013 natural gas, NGLs and oil price realizations (including the impact of cash-settled hedges and derivative settlements which would correspond to analysts’ estimates) averaged $5.06 per mcfe, a 3% decrease from the prior-year period. Production and preliminary realized prices by each commodity for the first quarter were: natural gas – 689 Mmcf per day ($4.09 per mcf), NGLs – 20,994 barrels per day ($35.29 per barrel) and crude oil and condensate – 10,141 barrels per day ($85.46 per barrel). Third-party transportation, gathering and compression fees are expected to average approximately $0.80 per mcfe for the first quarter due to added transportation costs applicable to higher than expected production volumes from the Marcellus Shale.

Commenting on the announcement, Jeff Ventura, Range’s President and CEO, said, “We are off to a terrific start with our first quarter production results. We are well on track to achieve our production growth target of 20% to 25% for 2013. More importantly, we believe that we have line-of-sight production growth of 20% to 25% for many years. This growth will be led by our approximately one million net acre leasehold position in Pennsylvania. The strong growth, coupled with high returns, low cost and low reinvestment risk will drive substantial per share value for years to come.”

The information in this release is unaudited. Final results, including final first quarter 2013 product price realizations (including the impact of cash-settled hedges and derivative settlements) and costs will be provided in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 currently planned to be filed with Securities and Exchange Commission by the end of April 2013.

From: http://www.dailyfinance.com/2013/04/11/range-announces-first-quarter-production-results/

Keyera and Plains Solicit Interest in Construction of New Liquids Pipeline System

By Business Wirevia The Motley Fool

Filed under:

Keyera and Plains Solicit Interest in Construction of New Liquids Pipeline System

CALGARY, Canada–(BUSINESS WIRE)– Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) (“Keyera”) and Plains Midstream Canada ULC, a wholly owned subsidiary of Plains All American Pipeline, L.P. (NYSE:PAA) (“Plains”), announced today they have entered into an arrangement to solicit interest in the construction of a jointly-owned liquids pipeline system in northwest Alberta. The proposed pipeline system, to be called the Western Reach Pipeline System, is anticipated to run from the Gordondale area of northwestern Alberta to Alberta’s natural gas liquids (“NGL“) energy hub in Fort Saskatchewan. Keyera and Plains have begun an open season process seeking non-binding nominations for volumes to underpin construction.

Keyera and Plains anticipate that the Western Reach Pipeline will consist of two new-build pipelines, with one dedicated to a mixture of propane, butane and condensate (“NGL mix”) and the other intended for segregated condensate service. The Western Reach Pipeline, expected to be approximately 570 kilometres in length, will travel through the Deep Basin area of Alberta, which contains some of the most prospective liquids-rich geological horizons being developed in western Canada today, including the Montney and Duvernay zones.

Keyera and Plains believe that separate dedicated pipelines for NGL mix and segregated condensate will benefit customers, avoiding the costs associated with pipelines operating in batch mode. Customers on the Western Reach Pipeline will have the option to direct their NGL mix and segregated condensate to a variety of fractionation, storage, pipeline and terminal facilities at the Fort Saskatchewan energy hub.

The Edmonton/Fort Saskatchewan area is where the majority of Canada‘s NGLs are aggregated for fractionation and subsequent delivery to end-use customers. Both Keyera and Plains have significant NGL fractionation, storage, pipeline and terminal facilities in the Edmonton/Fort Saskatchewan area. These facilities enable customers to access high-value markets for their propane, butane and condensate production. Keyera operates the Fort Saskatchewan Condensate System, consisting of extensive, interconnected condensate pipeline, terminalling and storage facilities that provide customers with access, storage and end-market delivery options. Plains operates an extensive network of pipelines with connectivity to ship NGLs to Plains’ eastern infrastructure assets, which include the Sarnia fractionation and storage facility, the Windsor and St. Clair storage facilities, and the Eastern Delivery Systems. Keyera and Plains are both evaluating expansions of their respective NGL fractionation facilities in Fort Saskatchewan to provide additional fractionation capacity for the growing volumes of NGLs produced in western Canada.

During the first stage of the open season, interested parties are required to complete and execute a confidentiality agreement and non-binding indicative nomination form. Deadline for

Source: FULL ARTICLE at DailyFinance

Enterprise Declares Distribution; 35th Consecutive Quarterly Distribution Increase

By Business Wirevia The Motley Fool

Filed under:

Enterprise Declares Distribution; 35 th Consecutive Quarterly Distribution Increase

HOUSTON–(BUSINESS WIRE)– Enterprise Products Partners L.P. (NYS: EPD) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.67 per common unit, or $2.68 per unit on an annualized basis. The quarterly distribution will be paid on Tuesday, May 7, 2013, to unitholders of record as of the close of business on Tuesday, April 30, 2013. This distribution, which represents a 6.8 percent increase over the $0.6275 per unit distribution declared with respect to the first quarter of 2012, is the 44th distribution increase since Enterprise’s initial public offering in 1998 and the 35th consecutive quarterly increase.

Enterprise will announce its first quarter of 2013 earnings on Tuesday, April 30 2013, before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 9 a.m. CT with analysts and investors to discuss its first quarter earnings. The call will be broadcast live on the Internet and may be accessed at the company’s website, www.enterpriseproducts.com.

To listen to the webcast, participants should access the “Investors” section of the company’s website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and may be accessed one hour after completion of the call.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil gathering and transportation, storage and terminals; offshore production platforms; petrochemical and refined products transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 50,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Additional information can be found on the Enterprise website www.enterpriseproducts.com.

This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, …read more

Source: FULL ARTICLE at DailyFinance

Dejour Q1-2013 Net Production Rate up 26%

By Business Wirevia The Motley Fool

Filed under:

Dejour Q1-2013 Net Production Rate up 26%

Drilling Program on Schedule at Kokopelli

DENVER–(BUSINESS WIRE)– Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, is pleased to announce production results for Q1 2013 and provide a field operations update at the Company’s 72% owned and operated Kokopelli project in NW Colorado.

Production:

Dejour’s net field production rose to 402 BOE/day average for Q1 2013, a quarter over quarter increase of 26%. 60% of this production was light crude. More encouraging, the March 2013 exit rate average net production to Dejour was 447 BOE/day, 63% oil. This further 11% net production growth coincides with much better realized product pricing and is expected to be maintained at least during Q2-2013. The March 2013 gross field production exit rate was 602 BOE/day.

Field Operations:

Surface casing has now been successfully set to ~1250′ on each of the Federal 6-7-15-27 and the Federal 6-7-14-27 wells. Once surface casing has been set on the third well, the Federal 6-7-13-27, drilling to total depths of ~8300′ will commence for each well sequentially. This operation should be accomplished within the 30 day window time frame previously announced, prior to the initiation of the completion program. The completion program will include the perforation and fracking of multiple zones of the Williams Fork on each of the 4 well bores currently and previously drilled by Dejour and initiating production (gas, condensate and NGL) to contractual gathering and sales systems.

Please refer to our Facebook page (link below) for additional media.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin and environs (approximately 129,000 net acres) and Peace River Arch regions (approximately 8,500 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders’ best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The …read more

Source: FULL ARTICLE at DailyFinance

The Utica's Potential Glimpsed in Chesapeake's Results

By Arjun Sreekumar, The Motley Fool

Filed under:

After discovering the Utica Shale in 2010, Chesapeake Energy was initially highly optimistic about the play’s hydrocarbon potential. Though it has since dialed back its expectations, its most recent well results in the play are highly encouraging.

Chesapeake remains the largest leasehold owner in the play, commanding roughly 1 million net acres. It is also by far the most active driller, having drilled more than 240 wells to date – representing about three-quarters of all wells drilled in the entire play.  

However, due to infrastructure constraints, the company is selling production from just 54 of those wells and is therefore only producing 75 million cubic feet of gas equivalent per day net to the company.  

Chesapeake expects infrastructure constraints to ease substantially, which it reckons should allow for a substantial ramp-up in production.

Infrastructure additions bode well for Utica production
A few of the coming improvements in gas processing infrastructure will include Dominion‘s natrium processing plant in Marshall County, W.V. – expected to go on line shortly – and three processing trains at Momentum’s Kensington plant in Columbiana County, Ohio, two of which are expected to be operational before the end of the year.

Chesapeake is not alone in pointing out the Utica’s lack of processing infrastructure as a major hindrance. Several operators, including CONSOL Energy , have cited infrastructure constraints as the single biggest reason for Utica producers’ reluctance in bringing new wells on line.

But that looks set to change shortly, as a handful of companies are eager to provide Utica producers with the infrastructure they so desperately require. For instance, midstream company Williams Partners , through a 48% stake in a privately held company, plans on shelling out roughly $380 million over the next couple of years on a joint venture with Dominion that will provide pipelines and processing services to Utica producers.

Chesapeake’s Utica wells
As evidence of the play’s potential, acting CEO and COO Steve Dixon highlighted recent well results in Carroll County, Ohio: “We drilled six wells from a common pad with average 24-hour stricted test rates of 1250 BOE per day, which includes 310 barrels of oil. 200 barrels of NGL with ethane not recovered and 4.4 mmcf of natural gas per day. This is a flowing tubing pressures exceeding 3000 [PSI].”

He added that well production data recently submitted to the Ohio Department of Natural Resources, in compliance with the department’s annual disclosure of Ohio production data, is “not indicative of the productive capacity of the initial wells drilled.” 

Assuming the timely start-up of crucial gas processing infrastructure in subsequent months, Chesapeake reckons it can produce more than 330 million cubic feet of gas equivalent or 55,000 barrels of oil equivalent per day from the Utica by year’s end. That implies production would more than quadruple from current levels.

What next?
Chesapeake’s operations in the Utica this year will be focused primarily on drilling within the play’s wet gas …read more

Source: FULL ARTICLE at DailyFinance

WPX Energy to Host May 2 Webcast

By Business Wirevia The Motley Fool

Filed under:

WPX Energy to Host May 2 Webcast

TULSA, Okla.–(BUSINESS WIRE)– WPX Energy (NYS: WPX) plans to report its first-quarter 2013 financial and production results before the market opens on Thursday, May 2.

Management will discuss the results and provide an update on the company’s operations during a webcast starting at 10 a.m. Eastern on the same day. Participants are encouraged to access the event and the corresponding slides at www.wpxenergy.com.

A limited number of phone lines also will be available at (866) 515-2907. International callers should dial (617) 399-5121. The conference identification code for both phone numbers is 99483783.

A replay of the first-quarter webcast will be available on WPX‘s website for one year following the event. Interviews with WPX‘s management about the company’s strengths, innovations and efficiencies also are available at www.wpxenergy.com.

About WPX Energy, Inc.

WPX Energy is an exploration and production company focused on developing its significant oil and gas reserves, particularly in the liquids-rich Piceance Basin, the Bakken and Three Forks oil shales and the Marcellus Shale. WPX also has domestic operations in the San Juan and Powder River basins, as well as a 69 percent interest in Apco Oil and Gas International. Go to http://www.wpxenergy.com/investors.aspx to join our e-mail list.

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, the volatility of oil, natural gas and NGL prices; uncertainties inherent in estimating oil, natural gas and NGL reserves; drilling risks; environmental risks; and political or regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the …read more
Source: FULL ARTICLE at DailyFinance

Phillips 66 Proposes Fractionator in Old Ocean, Texas

By Business Wirevia The Motley Fool

Filed under:

Phillips 66 Proposes Fractionator in Old Ocean, Texas

HOUSTON–(BUSINESS WIRE)– Energy manufacturer Phillips 66 (NYS: PSX) today announced that it is pursuing development of a 100,000 barrel-per-day natural gas liquids (NGL) fractionator to be located in Old Ocean, Texas, close to the company’s Sweeny Refinery. The project would create more than 25 full-time jobs and hundreds of temporary construction jobs. If approved, construction is expected to begin in the first half of 2014 with startup expected by the second half of 2015.

“This project would enable us to take advantage of strong existing midstream transportation and storage infrastructure along with demonstrated operations excellence,” said Phillips 66 Chairman and CEO Greg Garland. “We see excellent market-facing opportunities to grow the natural gas liquids business, and the chance to supply purity NGLs and liquefied petroleum gas to the petrochemical industry and heating markets.”

Phillips 66 has a long history in the midstream business segment, including NGL gathering, long haul transportation, storage and fractionation. The company owns fractionation capacity at the Gulf Coast Fractionators (GCF) and Enterprise fractionators in Mont Belvieu, Texas, as well as the Conway fractionator in Kansas. Phillips 66 is the operator of the GCF facility for the joint venture.

NGL feedstock for the Old Ocean fractionator project would be supplied by several nearby pipelines avoiding the Mont Belvieu congestion, and purified products produced by the fractionator would be marketed primarily to petrochemical customers in the region with access to Mont Belvieu. Phillips 66 recently sent notices seeking expression of interest from potential Y-grade suppliers of NGL.

The project is currently in the engineering design phase, and the company is in the process of filing for all applicable permits.

About Phillips 66

Headquartered in Houston, Phillips 66 is an advantaged downstream energy company with segment-leading Refining and Marketing (R&M), Midstream and Chemicals businesses. The company has 13,500 employees worldwide. Phillips 66’s R&M operations include 15 refineries with a net crude oil capacity of 2.2 million barrels per day, 10,000 owned or supplied branded marketing outlets, and 15,000 miles of pipeline systems. The Midstream segment includes Phillips 66’s 50 percent interest in DCP Midstream, LLC, one of the largest natural gas gatherers and processors in the United States, with 7.2 billion cubic feet per day of gross natural gas processing capacity. Phillips 66’s Chemicals business is conducted through its 50 percent interest in Chevron Phillips Chemical Company …read more
Source: FULL ARTICLE at DailyFinance

Dejour Energy Resumes Drilling at Kokopelli

By Business Wirevia The Motley Fool

Filed under:

Dejour Energy Resumes Drilling at Kokopelli

DENVER–(BUSINESS WIRE)– Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, is pleased to announce that it has successfully spud the Federal 6-7-15-27 directional well at its Kokopelli field located in Garfield County, Colorado, late last week.

This is the first of three new wells to be drilled sequentially during the current program. Drilling and setting of surface casing will continue next week for each of Federal 6-7-14-27 and Federal 6-7-13-27, prior to drilling out of surface casing, logging and casing of each well to a total depth of ~8300′. This operation should be accomplished within a 30 day window, prior to the initiation of the completion program.

The target production zone encompasses multiple horizons within the NGL rich Williams Fork (Mesa Verde) gas bearing formation.

Dejour operates this Kokopelli project with a 100% WI in these three wells, subject to a previously announced agreement with a Denver based drilling fund.

Please refer to our Facebook page (link below) for additional media.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin and environs (approximately 129,000 net acres) and Peace River Arch regions (approximately 8,500 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders’ best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).

Statements Regarding Forward-Looking Information: This news release contains statements about oil and gas production and operating activities that may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation as they involve the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by Dejour and described in the forward- looking statements. These risks, uncertainties and other factors include, but are not …read more
Source: FULL ARTICLE at DailyFinance

This MLP Spinoff Will Be Hard to Resist

By Aimee Duffy, The Motley Fool

Filed under:

It’s official: Phillips 66 is going to IPO a master limited partnership before the end of this year. The company announced yesterday it has filed registration paperwork with the SEC. Currently a wholly owned subsidiary, Phillips 66 Partners will trade under the ticker PSXP. Management has yet to decide how many limited partner units will be offered, or how they will be priced, but it intends to raise about $300 million in proceeds from the sale. This could be a great opportunity for investors looking for a stable business to add to their portfolios. With that in mind, let’s take a closer look at the midstream story at Phillips 66. 

Midstream at PSX
Phillips 66 has a significant midstream business, and reorganizing into an MLP makes plenty of sense. The assets that will fall under the Phillips 66 Partners entity include:

  • Clifton Ridge crude oil pipeline
  • Terminals and storage in Louisiana, Illinois, and Texas
  • Sweeny to Pasadena refined products pipeline
  • Hartford Connector refined products pipeline
  • 3 NGL fractionators: 130,000 bpd capacity 

Phillips 66 also holds a 50% interest in DCP Midstream, the parent company of DCP Midstream Partners . Spectra Energy holds the other 50% stake. DCP specializes in natural gas gathering systems, and is also one of the largest producers and marketers of natural gas liquids in the U.S. The company produced 400,000 bpd of NGLs, and contributed EBITDA of $1.1 billion to Phillips 66 in 2012. .

Room to run
Phillips 66 Partners will IPO in the second half of this year, but don’t expect this MLP to sit still for very long. Management sees compelling growth opportunities ahead, especially in exports, and is looking to significantly increase full-year EBITDA from the current level of about $180 million.

Both Phillips 66 and DCP Midstream have a strong asset footprint on the Gulf Coast, which makes it easy to target export growth. PSXP will focus on international markets for petrochemicals and heating, specifically aiming to increase exports of liquefied petroleum gas and NGLs.

DCP Midstream is also targeting growth, and it expects to grow its NGL production by 25% over the next five years.

Foolish takeaway
I encourage Fools interested in this IPO to take a long look at the prospectus, once it becomes available on the SEC website. Specifically, look for an indication of what level of commodity risk PSXP will be exposed to. NGL prices have wreaked havoc on the industry in the past, and by Phillips 66’s own calculation, a $0.01 change in NGL prices causes a $4 million change in net income.  If PSX structures fee-based contracts with the new MLP, this IPO will be hard to resist.

Enterprise Products Partners is another midstream company targeting export growth. To help investors decide whether Enterprise Products Partners is a buy or a sell today, click here now to check out The Motley Fool’s brand new premium research report on the company.

…read more
Source: FULL ARTICLE at DailyFinance

Williams CEO to Present at Upcoming MLP Conference

By Business Wirevia The Motley Fool

Filed under:

Williams CEO to Present at Upcoming MLP Conference

TULSA, Okla.–(BUSINESS WIRE)– Williams (NYS: WMB) President and Chief Executive Officer Alan Armstrong, who is also the chief executive officer of Williams Partners L.P.’s (NYS: WPZ) general partner, is scheduled to present Thursday, March 28 at the Pinnacle Investment Advisors 2013 Tulsa Master Limited Partnership Investor Conference.

Armstrong is speaking at 2:30 p.m. CDT. Armstrong’s presentation will be available at www.williams.com and www.williamslp.com on the morning of March 28. The event will not be webcast.

About Williams (NYSE: WMB)

Williams is one of the leading energy infrastructure companies in North America. It owns interests in or operates 15,000 miles of interstate gas pipelines, 1,000 miles of NGL transportation pipelines, and more than 10,000 miles of oil and gas gathering pipelines. The company’s facilities have daily gas processing capacity of 6.6 billion cubic feet of natural gas and NGL production of more than 200,000 barrels per day. Williams owns approximately 68 percent of Williams Partners L.P. (NYS: WPZ) , one of the largest diversified energy master limited partnerships. Williams Partners owns most of Williams’ interstate gas pipeline and domestic midstream assets. The company’s headquarters is in Tulsa, Okla. For more information, visit www.williams.com, where the company routinely posts important information.

About Williams Partners L.P. (NYSE: WPZ)

Williams Partners L.P. is a leading diversified master limited partnership focused on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid (NGL) fractionation; and oil transportation. The partnership owns interests in three major interstate natural gas pipelines that, combined, deliver 14 percent of the natural gas consumed in the United States. The partnership’s gathering and processing assets include large-scale operations in the U.S. Rocky Mountains and both onshore and offshore along the Gulf of Mexico. Williams (NYS: WMB) owns approximately 68 percent of Williams Partners, including the general-partner interest. More information is available at www.williamslp.com, where the partnership routinely posts important information.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes …read more
Source: FULL ARTICLE at DailyFinance

The Next Great American Energy Play

By Tyler Crowe, The Motley Fool

Filed under:

In sports, people love to hear about the next big thing. That sense of potential makes us tune in to see what all the chatter is about. So in the spirit of seeking future greats, let’s look at an unconventional energy play in the U.S. that has some industry experts proclaiming it as the next great American energy play.

Sizing it up
Using the same sports analogy, we need a standard to compare with. Much as basketball fans use the term “the next Jordan” as the bar of excellence, oil companies use two unconventional shale plays as the standard bearers for the industry: the Eagle Ford and the Bakken. While there’s some debate as to which play is better than the other, it’s not too much of a stretch to claim that they’re head and shoulders above the other areas. 

Although both energy plays are different in many ways, they both have one thing in common: a strong liquids portfolio. So when we talk about the next great American energy play, we’re going to make sure it isn’t a gas-heavy giant like the Marcellus shale. The Bakken has a distinct advantage in the type of crude it produces. Continental Resources‘ wells in the Bakken are producing crude with an average API gravity of 42 degrees, a sulfur content about one-third less than other U.S. crudes, and one of the highest gasoline percentages of any crude in the country.

The Eagle Ford‘s advantage comes from its location. Hugging the Rio Grande just before it spills into the Gulf of Mexico, the basin has the advantage of being right next to the heart of America’s oil and gas refining. Being so close to this region, which has been in the energy business for more than a century, also gives it a robust pipeline infrastructure to move product to its final destination.  

So if you’re scoring at home, we want a liquids-heavy play with high-quality crude and immediate access to pipelines and refineries. 

So what’s the SCOOP with this new energy play? 

Source: U.S. Geological Survey

The next great energy play has yet to come up with a definitive name, because it more or less straddles the Woodford shale and the Anadarko basins. Some have come to know it as the Anadarko-Woodford formation. Others call it the South Central Oklahoma Oil Province, or SCOOP. Whatever you want to call it, you should pay attention, because it could be making a big splash in the American energy market very soon.

How does this basin rate based on the criteria I just mentioned? Like the Eagle Ford, it has multiple fairways depending upon what you want to drill for. In Continental’s recent investor-day presentation on SCOOP, it said liquids content in the oil fairway were has high as 85%, but it also has NGL and gas fairways mixed in where a company can expect as much as 40% gas. With API gravity ranging from 45 to 60 …read more
Source: FULL ARTICLE at DailyFinance

2012 K-1 Tax Packages for Enterprise Products Partners L.P.

By Business Wirevia The Motley Fool

Filed under:

2012 K-1 Tax Packages for Enterprise Products Partners L.P.

HOUSTON–(BUSINESS WIRE)– The 2012 tax packages, including Schedule K-1, for Enterprise Products Partners L.P. (NYS: EPD) are now available online and may be accessed through the Enterprise website, www.enterpriseproducts.com, and the K-1 Tax Package Support website, https://www.taxpackagesupport.com/enterprise. The partnership expects to complete mailing of the 2012 Enterprise Products Partners L.P. tax packages by Thursday, March 28, 2013. For additional information, unitholders may call K-1 Tax Package Support toll free at (800) 599-9985 weekdays between 8 a.m. and 5 p.m. CDST.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil gathering and transportation, storage and terminals; offshore production platforms; petrochemical and refined products transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 50,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Additional information can be found on the Enterprise website www.enterpriseproducts.com.

Enterprise Products Partners L.P.
Randy Burkhalter, 713-381-6812 or 866-230-0745 (Investor Relations)
Rick Rainey, 713-381-3635 (Media Relations)

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:

The article 2012 K-1 Tax Packages for Enterprise Products Partners L.P. originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
b.type=”text/javascript”;b.async=!0;b.src=(“https:”===c.location.protocol?”https:”:”http:”)+
‘//cdn.mxpnl.com/libs/mixpanel-2.2.min.js’;d=c.getElementsByTagName(“script”)[0];
d.parentNode.insertBefore(b,d);a._i=[];a.init=function(b,c,f){function d(a,b){
var c=b.split(“.”);2==c.length&&(a=a[c[0]],b=c[1]);a[b]=function(){a.push([b].concat(
Array.prototype.slice.call(arguments,0)))}}var g=a;”undefined”!==typeof f?g=a[f]=[]:
f=”mixpanel”;g.people=g.people||[];h=[‘disable’,’track’,’track_pageview’,’track_links’,
…read more
Source: FULL ARTICLE at DailyFinance

Dejour Contracts Patterson Drilling & Halliburton for Kokopelli Development

By Business Wirevia The Motley Fool

Filed under:

Dejour Contracts Patterson Drilling & Halliburton for

Kokopelli Development

Targeting Q2-2013 Liquids-Rich Production

DENVER–(BUSINESS WIRE)– Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today provides an update on field operations at its 72% owned and operated Kokopelli project in Western Colorado.

The Company remains on schedule for the start-up of a new three well drilling program at Kokopelli before the end of March. Mobilization of Patterson-UTI (NAS: PTEN) Rig #313 to Dejour’s Drill Pad 21-A has begun. At the conclusion of the three well program, the Company has contracted with Halliburton (NYS: HAL) to commence completion of all four wells (including Federal Well 6-7-16-21 which was drilled in November).

Dejour is currently finalizing a gas transportation and processing agreement with a major midstream operator in the Piceance. Under the terms of the agreement, Dejour will maintain ownership of all NGL‘s recovered at the third party processing plant and sell both the NGL‘s and the residual gas at the tailgate of the plant.

“We are beginning the process of converting the Kokopelli asset from a proven undeveloped and probable reserve to a proven developed producing reserve that we expect to grow with time to over a net 120 BCF natural gas with 15 MM barrels of condensate/liquids in the Williams Fork,” says Harrison Blacker, Dejour COO.

Of significant interest to the Company are recent activities targeting the deeper Niobrara-Mancos zones in proximity to Dejour leaseholds within the Piceance Basin.

A recent announcement by WPX Energy (NYS: WPX) of a successfully completed Lower Mancos (Niobrara) Hz producer, in Garfield County, states that a new producer has averaged 12 MMCF/d of restricted flow production during the first 30 days. WPX further announced its intention to drill 2 additional Hz wells in 2013 adding that the encouraging production results of these new wells indicate that the Piceance Basin recoveries, including the Niobrara-Mancos, offer the potential to at least double the Company’s net reserves in the Piceance.

“We are also very excited about the activities of a Texas based E&P company currently testing a 4,600′ horizontal leg of …read more
Source: FULL ARTICLE at DailyFinance

GE's Albeo™ LED High Bay Lighting Fixture Earns Recognition in Next Generation Luminaires™ Competiti

By Business Wirevia The Motley Fool

Filed under:

GE’s Albeo™ LED High Bay Lighting Fixture Earns Recognition in Next Generation Luminaires™ Competition

EAST CLEVELAND, Ohio–(BUSINESS WIRE)– GE Lighting’s Albeo™ ABHX-Series LED High Bay lighting fixture has been recognized in the category of “Industrial Luminaires – high bay” in the 2013 Next Generation Luminaires™ (NGL) Solid-State Lighting Design Indoor Competition. Sponsored by the Illuminating Engineering Society of North America, and the International Association of Lighting Designers, the NGL awards were created to recognize excellence in energy-efficient LED commercial lighting unit design.

GE Lighting’s Albeo(TM) ABHX-Series LED High Bay lighting fixture is an ideal solution for business owners looking for quality high bay luminaires that reduce maintenance and energy costs. (Photo: General Electric)

The ABHX-Series LED lighting fixture, a product of GE Lighting’s recent acquisition of Albeo Technologies, is designed for industrial buildings, warehouses, cold storage and other commercial spaces with high ceilings. It covers a wide range of light outputs that include 400W to 1500W HID and four- to eight-lamp T5/T8 HIF high bay lighting. It is the next generation of the award-winning H-Series, which was the first one-for-one LED replacement for up to 1500W metal-halide systems. Utilizing the same innovative heat sinking and LED technology, the Albeo™ ABHX-Series offers more lumens from fewer modules and can be equipped with wireless and motion controls.

“The Next Generation Luminaires Solid State Lighting Design Competition showcases excellence in LED lighting, so we’re thrilled GE‘s Albeo™ LED high bay lighting garnered attention and high marks from the judges,” said Jeff Bisberg, CEO of Albeo Technologies, a GE Lighting business. “We’re proud of our ABHX-Series and believe it is the ideal solution for business owners looking for quality high bay luminaires that reduce maintenance and energy costs.”

Indoor awards were presented in New York City on March 20 at LEDucation 7, an annual conference for lighting and design professionals.

For more information about GE‘s high bay fixtures, visit www.gelighting.com. To learn more about GE‘s commitment to innovative solutions to today’s environmental challenges while driving economic growth, visit www.ecomagination.com.

About GE Lighting

GE Lighting invents with the vigor of its founder Thomas Edison to develop energy-efficient solutions that change the way people light their world in commercial, industrial, municipal and residential settings. The business employs about 15,000 people in more than 100 countries, and sells products under …read more
Source: FULL ARTICLE at DailyFinance

CAPScall of the Week: Sanchez Energy

By Sean Williams, The Motley Fool

Filed under:

For years, satirical late-night TV host Stephen Colbert has been running a series on his show called “Better Know a District,” which highlights one of the 435 U.S. congressional districts and its representative. While I am no Stephen Colbert, I am brutally inquisitive when it comes to the 5,000-plus listed companies on the U.S. stock exchanges.

That’s why I’ve made it a weekly tradition to examine one seldom-followed company within the Motley Fool CAPS database, and make a CAPScall of outperform or underperform on that company.

For this week’s round of “Better Know a Stock,” I’m going to take a closer look at Sanchez Energy .

What Sanchez Energy does
Sanchez Energy is an oil and gas exploration and production company. Its primary assets are liquid fuels (e.g., oil and liquid natural gas) in the Eagle Ford Shale region, where it holds approximately 95,000 acres. Sanchez also has undeveloped acreage interests in the Bakken Shale and Haynesville Shale. Sanchez currently has 34 wells in operation with an additional 17 in various stages of drilling or completion.

For 2012, Sanchez Energy reported 468.8 million barrels of oil equivalent production, or MBOE, which was a 170% improvement over its production in 2011. Although production volume surged, average production per well dipped as demand dropped and the company spent heavily in bringing 19 new wells online. Revenue for the year grew 197% to $43.2 million despite a dramatic drop in natural gas prices, although the company produced a loss of $0.56 for the year. 

Whom it competes against
As you might imagine, competition is at a premium for acreage in the Eagle Ford Shale. Although natural gas drilling has abated with prices down in the doldrums, NGL and oil drilling remains as profitable as ever. EOG Resources is the king of the Eagle Ford region, having produced in excess of 29.5 million barrels of oil through the first 11 months of 2012. By comparison, Burlington Resources was a distant second at 16.1 million barrels of oil produced. Sanchez is a relative newcomer, so obtaining additional acreage has been difficult.

Unlike its Eagle Ford Shale acreage, which it nearly owns outright, many of its undeveloped acreage is shared interest. Sanchez has 1,500 net acres in the Haynesville Shale region of Louisiana, which it listed in its S-1 prospectus as operated by Chesapeake Energy and EnCana . Neither of these two natural gas behemoths have been looking to splurge recently with natural gas prices down, so this 1,500 acres, while small, could be a troublesome asset to sell if Sanchez has no plans to utilize it.

In the Palmetto region, which is located in the Eagle Ford Shale, it does share a 50/50 working interest with Marathon Oil . With the Palmetto area more rich in volatile oils, it’s not devastating for a company like Sanchez to share its working interests here. The key is that its Maverick region is ripe with black oil, and it …read more
Source: FULL ARTICLE at DailyFinance

Enterprise Announces Open Commitment Period

By Business Wirevia The Motley Fool

Filed under:

Enterprise Announces Open Commitment Period

HOUSTON–(BUSINESS WIRE)– Enterprise Products Partners L.P. (NYS: EPD) announced today the start of an open commitment period for the purpose of soliciting long-term transportation agreements with interested shippers for movements of diluent-quality natural gasoline from its Mont Belvieu, Texas liquids storage complex to several potential delivery points in and around the Chicago area, including potential connections to the Southern Lights and Cochin pipelines. The final delivery point(s) will be determined after evaluating the binding commitments received.

The open commitment period begins today at 9 a.m. CDT and will close Thursday, April 18, 2013 at 5 p.m. CDT. For commercial inquiries or additional information related to the open commitment period, please contact Patrick Tucker at (713) 381-5429 or pktucker@eprod.com.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 50,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Additional information regarding Enterprise can be found on its website, www.enterpriseproducts.com.

This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of such activities, events, developments or transactions, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition and other risk factors included in the reports filed with the Securities and Exchange Commission by Enterprise. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only …read more
Source: FULL ARTICLE at DailyFinance

MarkWest Utica EMG Announces Definitive Agreements with PDC Energy and Provides Update to Utica Deve

By Business Wirevia The Motley Fool

Filed under:

MarkWest Utica EMG Announces Definitive Agreements with PDC Energy and Provides Update to Utica Development Plans

DENVER–(BUSINESS WIRE)– MarkWest Utica EMG, L.L.C. (MarkWest Utica EMG), a joint venture between MarkWest Energy Partners, L.P. (NYS: MWE) (MarkWest) and The Energy and Minerals Group (EMG), today announced definitive agreements with PDC Energy, Inc. (NAS: PDCE) (PDC) to provide gathering, processing, fractionation, and marketing services in the Utica Shale.

MarkWest Utica EMG expects to begin gathering and processing PDC‘s liquids-rich gas production from Guernsey County, Ohio by the end of the second quarter of 2013. Initial production from PDC‘s Utica operations will be processed at the Cadiz complex located in Harrison County, Ohio. In the second half of 2013, PDC‘s gas will be transported via MarkWest Utica EMG’s high-pressure rich-gas header system to the Seneca complex located in Noble County, Ohio for processing. In addition to developing high-quality gathering and processing infrastructure on behalf of PDC, during the first quarter of 2014 MarkWest Utica EMG and MarkWest are expected to complete the installation of 100,000 barrels per day of C2+ fractionation capacity in Harrison County, Ohio that will include extensive marketing access by truck, rail, and pipeline. When completed, MarkWest Utica EMG and MarkWest will have the largest processing and fractionation capacity in the Utica Shale. The fractionation facility will also be connected by an NGL pipeline to MarkWest’s extensive NGL infrastructure in the Marcellus Shale and to its Houston, Pennsylvania complex, the largest fractionation and marketing facility in the Northeast. The large-scale and fully-integrated midstream system will provide significant flexibility and redundancy for PDC and other producer customers operating in the core liquids-rich area of the Utica Shale.

In just over nine months, MarkWest Utica EMG has announced long-term, fee-based agreements with four major producers operating in the core of the hydrocarbon-rich area located in the southern portion of the Utica Shale play including Gulfport Energy Corporation (Gulfport), Antero Resources (Antero), Rex Energy Corporation (Rex), and PDC. These producers will have access to MarkWest Utica EMG’s fully-integrated midstream system extending throughout a multi-county area in eastern Ohio. MarkWest Utica EMG currently has 60 MMcf/d of refrigeration processing capacity available at the Cadiz complex and, during the second quarter of 2013, will begin operation of its 125 MMcf/d Cadiz I cryogenic processing facility. The 185 MMcf/d of combined processing capacity at the Cadiz complex is expected to provide the needed capacity to support the 2013 drilling plans of anchor tenants Gulfport and Antero, in addition to Rex, PDC and other producer customers. MarkWest Utica EMG expects …read more
Source: FULL ARTICLE at DailyFinance

Ralph Izzo Elected to Williams' Board of Directors

By Business Wirevia The Motley Fool

Filed under:

Ralph Izzo Elected to Williams’ Board of Directors

TULSA, Okla.–(BUSINESS WIRE)– Williams (NYS: WMB) announced today that Ralph Izzo has been elected to the company’s Board of Directors. This increases the size of Williams’ board to 11.

Izzo has more than 20 years experience as a senior executive in the energy industry. He is currently chairman, president and chief executive officer of Public Service Enterprise Group Incorporated, a publicly traded (NYS: PEG) diversified energy company headquartered in New Jersey and one of the largest electric utilities in the United States.

“Ralph brings significant leadership experience in the North American energy industry to the Williams board,” said Alan Armstrong, Williams’ president and chief executive officer.

“Ralph’s deep knowledge across multiple disciplines of the energy industry and his background in science, public policy and business provide added strength to our board.”

Izzo is also currently chairman of the Rutgers University Board of Governors and serves on the board of directors for the New Jersey Chamber of Commerce, the New Jersey Utilities Association, the Edison Electric Institute, the Nuclear Energy Institute, the Institute for Nuclear Power Operations, the National Center on Addiction and Substance Abuse at Columbia University and The Center for Energy Workforce Development. He resides in New Jersey.

About Williams (NYSE: WMB)

Williams is one of the leading energy infrastructure companies in North America. It owns interests in or operates 15,000 miles of interstate gas pipelines, 1,000 miles of NGL transportation pipelines, and more than 10,000 miles of oil and gas gathering pipelines. The company’s facilities have daily gas processing capacity of 6.6 billion cubic feet of natural gas and NGL production of more than 200,000 barrels per day. Williams owns approximately 68 percent of Williams Partners L.P. (NYS: WPZ) , one of the largest diversified energy master limited partnerships. Williams Partners owns most of Williams’ interstate gas pipeline and domestic midstream assets. The company’s headquarters is in Tulsa, Okla. For more information, visit www.williams.com, where the company routinely posts important information.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially …read more
Source: FULL ARTICLE at DailyFinance

Inside Kinder Morgan: CO2

By Aimee Duffy, The Motley Fool

Filed under:

Based on combined enterprise value, Kinder Morgan is the third-largest energy company in North America. We tend to associate the giant with its 75,000 miles of pipelines, but in reality its operations are incredibly diverse. Over the past week, I’ve taken a closer look at each of the midstream company’s five distinct business units: So far I’ve reviewed terminalsnatural gas pipelines, products pipelines, and Kinder Morgan Canada. Today we dig into the last business segment, one of the least understood parts of the partnership’s operations: CO2.

Background on the assets
Kinder Morgan is at the top of the heap when it comes to the CO2 business, serving as North America‘s leading transporter and marketer of the gas. The company delivers about 1.3 billion cubic feet per day through its 1,300 miles of CO2 pipe. Before we get into the nitty-gritty of Kinder Morgan‘s assets (which are technically owned by Kinder Morgan Energy Partners ), let’s remind ourselves of what the CO2 business actually is.

Most often, when it comes to energy production, carbon dioxide is the enemy. However, in the mature oil fields of West Texas, carbon dioxide is an oil man’s best friend. The gas is injected into a well at high pressure, in a process called flooding, to force out every last bit of oil. Companies such as Occidental Petroleum in the Permian Basin and Denbury Resources on the Gulf Coast have used enhanced oil recovery, or EOR, to maximize output. The process is often called tertiary recovery, because it’s the third step after normal production, followed by water flooding.

Kinder Morgan engages in the transportation of CO2, selling it to customers in the Permian, but it also uses it to produce oil. The partnership has four CO2 source fields in Arizona, New Mexico and Colorado, and three oil-producing fields in Texas. Its assets also include the requisite CO2 and oil pipelines.

In 2012, oil production at Kinder Morgan‘s SACROC field beat management’s expectations by more than 1,000 barrels per day, and it was the same story with NGL production. However, as many midstream industry fans know, the NGL price collapse last year really hurt, and Kinder Morgan was no exception, suffering a $59 million impact on distributable cash flow.

Let’s look at how the segment’s assets performed in 2012 compared with management’s expectations. Note that the CO2 producing fields and pipelines are grouped together as “Source & Transportation,” or S&T:

Asset

Expected

Actual

Difference

SACROC (oil)

27,868 Bbl/D

28,968 Bbl/D

3.8%

SACROC (NGL)

17,361 Bbl/D

18,825 Bbl/D

7.8%

Yates

20,986 Bbl/D

20,839 Bbl/D

(0.7%)

Katz

2,267 Bbl/D

1,722 Bbl/D

(24%)

CO2 S&T

1,264 Mmcf/D

1,212 Mmcf/D

(4.1%)

Source: Company presentation. 

A combination of high oil prices and higher production at SACROC allowed Kinder Morgan to partially mitigate lower production at Katz …read more
Source: FULL ARTICLE at DailyFinance