Plugging In business briefs for Aug. 2, 2013

Plugging In business briefs for Aug. 2, 2013.
Published: August 2, 2013
Advertisement
;

PLUGGING IN

Some ONG users to pay more

Residential customers of Oklahoma Natural Gas will pay slightly more in monthly service charges for an energy-efficiency program in the next year after Oklahoma Corporation Commissioners approved a settlement Thursday. There was no change in base rates, but residential customers will pay 3 cents more in monthly service charges. Small commercial customers will pay 17 cents less and large commercial customers will pay 23 cents less on the monthly service charge portion of their bills. As part of the settlement, ONG agreed to file a request for a rate case by the end of May 2014. ONG has more than 832,000 customers in Oklahoma, including 764,000 residential customers.

SemGroup completes assets deal

SemGroup Corp. has completed its acquisition of natural gas gathering and processing assets in the Mississippi Lime formation from Chesapeake Energy Corp. SemGroup paid $300 million for 200 miles of gathering pipeline and two cryogenic processing plants. SemGroup expects to spend an additional $125 million to complete the processing plants. “We are pleased to add all of these key assets to SemGroup's continued story of growth,” CEO Norm Szydlowski said. “This purchase positions us to expand our presence in a highly attractive area and provides future drop down inventory for Rose Rock Midstream.”

Williams Partners sets offering

Williams Partners LP on Thursday said it will launch a public offering of 21.5 million common units representing limited-partner interests. Underwriter Barclays will be able to purchase up to 3.225 million additional units. Williams Partners intends to use proceeds from the offering to repay debt and fund capital expenditures.

Tipton joins Rex Energy board

Former SandRidge Energy Inc. executive Todd N. Tipton has joined the board for Pennsylvania-based oil and natural gas producer Rex Energy Corp. “Todd brings us extensive experience and a thorough understanding of the geological and operational aspects of the oil and gas industry,” Chairman Lance T. Shaner said. “He will be an invaluable asset to our board of directors.” Tipton retired in May as SandRidge's executive vice president of exploration. He was one of four top executives to leave the company after a proxy fight with one of its largest shareholders.

Uticas East Ohio project working

The first phase of the Utica East Ohio Midstream LLC project is in service, processing natural gas liquids from the Utica Shale and delivering residue gas to interstate markets. The project, a joint venture owned by Access Midstream, M3 Midstream and EV Energy Partners, is the first fully integrated gathering, processing and fractionation complex in eastern Ohio. “This heroic accomplishment was the direct result of a collaborative effort between Access and M3 to meet our upstream customer needs,” Access CEO Mike Stice said. Eventually, the system will consist of 800 million cubic feet per day of cryogenic processing, 135,000 barrels per day of natural gas liquids fractionation, 870,000 barrels of natural gas liquids storage and a rail facility capable of loading 90 cars per day with the ability to increase processing, fractionation and rail-loading capacity to almost double the initial amount.

| |

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    ​This Shot-for-Shot Frozen-'Thriller' Mashup Is Damn Near Perfect
  2. 2
    VIDEO: Kendrick Perkins lobbies for physical play before Game 3
  3. 3
    Sixth-grade teacher arrested on sexual-assault complaint
  4. 4
    CTB/McGraw-Hill executives apologize for testing problems
  5. 5
    Oklahoma City Thunder: Russell Westbrook refuses to call FedEx Forum 'Grindhouse'
+ show more