Trusts announce distributions
Three trusts owning royalty interests in SandRidge Energy Inc. wells announced quarterly distributions on Thursday. SandRidge Mississippian Trust I will pay 65.0747 cents a unit. SandRidge Mississippian Trust II will pay 53.2557 cents a unit. SandRidge Permian Trust will pay 60.3032 cents a unit. The distributions are expected to occur on or before March 1.
Pipeline delivers record gas
TULSA — The Transco interstate pipeline delivered a record amount of natural gas to meet demand spurred by bitter cold along the Eastern Seaboard last week, owner Williams Partners LP reported Thursday. The pipeline delivered 10.4 million dekatherms of gas on Jan. 22, surpassing the previous high of 9.7 million dekatherms from early last year. Transco also set a three-day record between Jan. 22 and Jan. 24, when it delivered an average of 9.9 million dekatherms a day. The 10,000-mile pipeline system, which runs from south Texas to New York, serves major markets along the Eastern Seaboard. Williams Partners plans to expand the Transco pipeline by nearly 2 million dekatherms by 2015.
Chesapeake wins Penn. contract
A Chesapeake Energy Corp. subsidiary has secured a contract to develop 1,200 acres of state game land in Pennsylvania. Chesapeake Appalachia LLC will rent the acreage for a year for a one-time payment of $2,500 an acre. The company pledged to pay 23.25 percent in royalties on all oil and gas development there in a competitive bid opened Nov. 2 by the Pennsylvania Board of Game Commissioners.
LoneStar buys seismic system
EDMOND — LoneStar Geophysical Surveys has purchased a new seismic system for environmentally sensitive work in Kansas, Nebraska, Colorado and Montana, the company announced this week. CEO Heath P. Harris said the 4,000-node ZLand system from Fairfield-Nodal has performed well in challenging environments. “We have tried many other similar systems, and found ZLand to be the clear choice for us,” Harris said. LoneStar also announced it has taken delivery of a fleet of vibrator machinery for its U.S. projects.
Homeland Resources expands