Page 12 - NorthAmOil Week 38

NorthAmOil
NEWS IN BRIEF
NorthAmOil
MIDSTREAM
Eco-Energy acquires southern Appalachian natural gas gathering, processing, and terminal assets
Eco-Energy, a leading biofuel and natural gas marketing supply chain company, announces the acquisition of the Stone Mountain gathering pipeline system, Stone Mountain processing facility and the Stone Mountain rail terminal. The assets had been owned by Continuum Energy Services for over [10] years. Financial terms were not disclosed.
The Stone Mountain gathering system
is made of up over 600 miles of gathering pipelines that span Kentucky, Tennessee, and Virginia. The system has a design capacity
for 60,000 Mcf per day and collects gas from over 800 wells which supply the cryogenic processing facility before interconnecting with the East Tennessee pipeline. The East Tennessee interconnect provides a significant uplift in value to the surrounding production.
The Stone Mountain cryogenic processing plant has capacity of 25,000 Mcf per day with a pipeline connection to the Stone Mountain liquids terminal. The liquids terminal is designed to handle y-grade, propane and butane and has 24 railcar spots with access to the Norfolk Southern railroad and 3 trucks bays to supply the local market with these premium products.
“Eco is looking forward to growing our natural gas business with this new asset. Stone Mountain will be a strategic foothold
in the Southern Appalachian market that complements our commercial marketing platform. Eco Energy is looking forward to our partnership with the current producer Magnum Hunter Production (a division of Montage Resources). We have worked hard to align incentives that benefit both companies and we look forward to adding new suppliers
to the system as well” stated Brian Simpson, Eco-Energy’s EVP of Development.
John Reinhart, President and CEO of Montage Resources commented, “We are pleased to be working with the team at Eco-Energy and the expanded natural gas marketing capabilities they provide.” ECO-ENERGY, September 17, 2019
DOWNSTREAM
Eagle LNG receives
FERC’s authorisation for
Jacksonville LNG export
facility
Eagle LNG Partners announced that the US Federal Energy Regulatory Commission (FERC) has issued the order granting authorisation for siting and constructing its proposed on-water Jacksonville LNG Export Facility.
The liquefied natural gas (LNG) export facility and terminal, planned in Jacksonville, Florida, will have a production capacity of approximately 1.65mn LNG-gallons per
day with 12mn LNG-gallons of storage plus marine- and truck-loading capabilities located on-site.
“The FERC authorisation for Eagle
LNG’s Jacksonville LNG Export facility has been many years and countless hours in the making. As one of only a handful of greenfield LNG project proponents to obtain their
FERC Order, and the only project devoted
to provisioning small-scale LNG projects
in the Caribbean basin, Eagle LNG is one large step closer to delivering clean-burning, affordable, domestically produced U.S.
natural gas.” said Sean Lalani, president of Eagle LNG. “Numerous independent studies have shown that sourcing LNG for power generation allows Caribbean island nations the ability to substantially reduce power costs and simultaneously reduce CO2 emissions by 30-40% as compared to fuel oil and coal. Eagle
LNG acknowledges that this project would not have been possible without the continued support of the Jacksonville community and key stakeholders regionally and in North Florida.”
Eagle LNG’s Jacksonville LNG Export facility will have a construction cost of approximately $500mn with a continuing positive economic and employment impact for the southeast US, State of Florida and the North Florida region.
“Exports in small volumes from our existing Maxville LNG facility are already providing low cost, domestically produced US natural gas as an early, stable fuel source for the Caribbean. The proposed Jacksonville LNG Export facility will not only drive and create economic growth in Florida and the US, it is crucial for the expansion of new US/Caribbean LNG trade opportunities,” continued Lalani.
EAGLE LNG PARTNERS, September 23, 2019
SERVICES
TGS and Quantico Energy Solutions announce collaboration for artificial intelligence-based seismic inversion
TGS, a leading provider of multi-client geoscience and engineering data for exploration and production companies,
and Quantico Energy Solutions, an artificial intelligence (AI) company focused on subsurface solutions for Exploration & Production companies, today announced a technology collaboration to leverage their respective offerings in seismic data, AI-based well logs, and AI-based seismic inversion. The joint solution addresses the critical challenges in earth modelling workflows; specifically, insufficient seismic and log data, lengthy
time until results, and difficulties mapping advanced geomechanical and petrophysical attributes.
TGS will leverage its industry leading data library of seismic and well log data in the key regions of oil and gas activity across the world. In addition, the collaboration will feature TGS’s Analytics Ready LAS (ARLAS) solution. Adding to the largest commercial digital log library in the world, ARLAS utilizes machine learning algorithms to predict missing curve responses in today’s digital well log data.
TGS can successfully predict curve response
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Week 38 24•September•2019