It seems as though the long slump in gas prices has gone on forever, but rising gas demand in the coming years may drive a third surge in shale investment. This is according to a recent report by Scott Gruber, senior analyst for Bernstein Research.
The acquisition includes about 127,000 net acres of Montney lands and production, as of October 1, of approximately 11,000 barrels of oil equivalent per day, which is expected to increase in the fourth quarter of 2013.
Arrow owns and operates approximately 460 miles of gathering pipeline composed of 150 miles of crude oil gathering pipeline, 160 miles of natural gas gathering pipeline and 150 miles of water gathering lines.
In addition to receiving crude oil, the El Dorado Storage Terminal is an attractive storage and blending location for Kansas crude oil producers, which have experienced significant production growth in recent years.
Sabine Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first four liquefaction trains at its facility in Cameron Parish, Louisiana.
The partnership intends to use the net proceeds from this offering to reduce indebtedness outstanding under its revolving credit facility, fund ongoing expansion projects and for general partnership purposes.
Williams plans to use the net proceeds from the offering to repay amounts outstanding under the partnership's commercial paper program, to fund capital expenditures and for general partnership purposes.