Natural gas takes center stage today with news from Enterprise Products, Haynesville pure player Comstock Resources, and BP setting the record straight about adding more U.S. shale gas assets following October’s mega mergers.
Reese Energy Consulting is following the latest from midstream machine Enterprise Products, which reported 3Q profit of $2.3 billion along with record volumes across its systems. EP’s NGL pipelines and services segment, the largest part of its business, handled a record 5.9 BCFD for the quarter. With every expectation Permian volumes will continue to grow over the next decade, the company announced four new projects to address the basin’s takeaway challenges, including two gas plants, a fractionation unit, and the 550-mile Bahia NGL pipeline. All are expected to be completed by 2025. EP says it will also convert its 210 MBD Seminole Pipeline to NGL service.
Natural gas producer Comstock, which operates 372,000 net acres in the Haynesville and Bossier, has partnered with Quantum Capital Solutions to fund the future buildout of its Western Haynesville gathering and treating system. The company’s midstream assets include a 145-mile gas pipeline and the Bethel processing plant supported by Comstock’s production.
A Reuter’s exclusive on Monday reported that BP is scouting JV partners in the Haynesville and Eagle Ford. While CEO Murray Auchincloss on Tuesday clapped backed at rumors the London-based supermajor might be eyeing a large shale acquisition here, he did not respond to the earlier report.