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comment. The proposed changes and other Cunningham Energy is an independent the Platts Japan Korea Marker (JKM), after
information will be sent to EPA as part of a producer of oil and gas. Cunningham Energy deductions for fixed LNG shipping costs and
pre-application for primacy and allow EPA conducts operations and oil/gas interests a fixed liquefaction fee. ARC Resources, Ltd.
a chance to start its review. If ultimately in the Appalachian Basin with over 30,000 will act as guarantor of the IPM agreement
approved by the EPA, primacy would mean plus net acres of leases. Cunningham Energy on behalf of ARC US. The IPM agreement is
that operators would only need to apply with was formed in 2008 and was a pioneer of subject to Corpus Christi Stage III making a
the RRC for Class VI permits rather than both shallow horizontal oil drilling in West Virginia positive final investment decision to construct
agencies. starting in 2014. During its future phase 1 the Corpus Christi Stage III project.
The proposed amendments would modify development programme in West Virginia, “We are pleased to enter into this long-
various sections of RRC rules, including Cunningham Energy is to permit, drill, and term IPM agreement with one of Canada’s
those describing the applicability of the rules, complete 15 Shallow horizontal Big Injun, largest natural gas producers, enabling
application requirements, notice and hearing Weir, and Berea Sandstone Oil wells to fulfil Canadian natural gas to reach international
requirements, permit standards and reporting, legacy drilling & lease obligations. Identified markets,” said Jack Fusco, Cheniere’s
recordkeeping and more. currently are 75-100 potential development President and CEO. “This commercial
“Clearly, there is concern today about well sites on existing leases with plans to agreement further demonstrates Cheniere’s
levels of carbon dioxide in the atmosphere expand the company’s leasehold footprint ability to create collaborative, innovative
and its impact on the environment,” said through future acquisitions and leasing. tailored solutions that meet the needs of our
Leslie Savage, RRC’s Chief Geologist. “Class HOUSTON NATURAL RESOURCES CORP., May customers. This IPM agreement with ARC US
VI injection wells have the potential to be 06, 2022 is expected to provide additional support to
part of the solution by trapping the CO2 in the Corpus Christi Stage III Project, which we
appropriate geologic formations. We hope expect to reach FID this summer.”
our programme will be able to streamline the MIDSTREAM The Corpus Christi Stage III Project
process and allow for the timely issuing of is being developed to include up to seven
Class VI permits.” Cheniere Corpus Christi midscale liquefaction trains with a total
Primacy allows the EPA to delegate its expected nominal production capacity of over
authority to states, provided they meet the Stage III and ARC 10 mtpa.
federal government’s minimum standards. CHENIERE ENERGY, May 04, 2022
RAILROAD COMMISSION OF TEXAS, May 03, Resources sign long-term
2022
integrated production SERVICES
marketing transaction Petrofac secures sizeable
UPSTREAM
HNRC provides update Cheniere Energy announced today that its decommissioning contract
subsidiary, Corpus Christi Liquefaction
on Cunningham Energy Stage III, has entered into a long-term in the Gulf of Mexico
integrated production marketing (IPM) gas
acquisition supply agreement with ARC Resources US, Petrofac, a leading provider of services to
a subsidiary of ARC Resources, a leading
the global energy industry, and Promethean
Houston Natural Resources Corp. (HNRC) natural gas producer in Canada. Decommissioning Company (PDC), a pure-
provided an update today on its acquisition of Under the IPM agreement, ARC US play decommissioning operator, have formed
Cunningham Energy. has agreed to sell 140,000 MMBtu per day an alliance to decommission the South Pass
HNRC is currently doing due diligence of natural gas to Corpus Christi Stage III 60, South Pass 6 and East Breaks 165 fields,
for the proposed transaction. The company is for a term of 15 years, commencing with offshore Gulf of Mexico.
engaging investment banks and accounting commercial operations of Train 7 of the The legacy offshore fields and assets
firms to assist with the due diligence and Corpus Christi Stage III Project. The LNG include nine platforms, 200 wells and 32
financing. The proposed investment is for associated with this gas supply, approximately pipeline segments. The scope includes the
up to $100mn in cash and securities and 0.85mn tonnes per annum (“mtpa”), will be safe, efficient, and assured decommissioning
the parties are committed to closing the marketed by Cheniere. Cheniere will pay ARC of the fields.
transaction on or before June 30, 2022. US an LNG-linked price for its gas, based on PDC takes on the role of decommissioning

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