Lucid Energy Group LLC secures equity commitment

Recently, Lucid Energy Group LLC secured a $75-million equity commitment from EnCap Flatrock Midstream. Lucid Energy is a startup midstream company that provides crude oil and gas gathering, gas compression, treating, processing and transmission services. The company will pursue greenfield initiatives and acquisitions in conventional and unconventional resource basins with a particular emphasis on the Midcontinent region.

Lucid’s management team is led by company president Michael J. Latchem; chief financial officer W. Kyle Bebee; and chief operating officer Jay L. Langham. Prior to the formation of Lucid Energy Group, Latchem served as president of TPF Gas Services LLC. Previously, he was vice president of business development at Crosstex Energy LP.

Bebee has broad experience in private equity and bank finance, deal origination and structuring, and risk management. His recent track record includes more than 30 transactions in excess of $1.4 billion each.

Langham's energy experience includes engineering design, construction and operation of natural gas gathering, treating and processing facilities and liquids handling and storage facilities. Immediately prior to forming Lucid Energy Group, Langham served as vice president of engineering and operations for TPF Gas Services.

Sunoco Logistics Partners LP changes management lineup

Sunoco Logistics Partners LP announced that Michael J. Hennigan has become president and chief executive, effective March 1, 2012. Hennigan, currently president and chief operating officer of Sunoco Logistics, replaces Lynn L. Elsenhans, who is stepping down as chief executive on March 1.

Elsenhans also will be stepping down as chairman and a director of Sunoco Logistics effective May 3, 2012. Brian P. MacDonald, currently vice president, chief financial officer and director of Sunoco Logistics, will succeed Elsenhans as chairman of Sunoco Logistics beginning May 3, 2012.

Separately, Sunoco Inc. announced that MacDonald will become chairman, president and chief executive of Sunoco Inc., succeeding Elsenhans. Sunoco owns the general partner interest of Sunoco Logistics, which consists of a 2% ownership interest and incentive distribution rights, and owns a 32% interest in the partnership's limited partner units.

TransCanada announces the appointment of new independent director

The board of directors of TransCanada Corp. recently announced the appointment of a new independent director, Rick Waugh, effective February 1, 2012.

Waugh has been the president and chief executive and a director of The Bank of Nova Scotia since March 25, 2003.

Waugh is a member of the Canadian Council of Chief Executives. He currently serves as president and is a director of the International Monetary Conference and is vice-chair of the board of the Institute of International Finance. Waugh is a member of the Council of the Americas and is on the Chairman's International Advisory Council for the Americas Society. He serves on the board of directors for Catalyst Inc. and is chair of the Catalyst Canada Advisory Board. In addition, he serves on the Advisory Council of the Schulich School of Business at York University, the Guanghua School of Management at Peking University and the Canadian Museum of Human Rights.

J-W Energy Co. restructures midstream subsidiaries

Recently, J-W Energy Co. formed J-W Midstream Co. This new entity will consolidate J-W Energy Co.'s midstream activities currently conducted by J-W Gathering Co., J-W Pipeline Co. and Q-West Energy Co.

J-W Midstream Co. will expand the company's presence in gathering, marketing, compression, dehydration, treating, processing and transmission of natural gas in Arkansas, Louisiana and Texas. The company has the capacity to gather and treat over 600 million cubic feet of natural gas per day and currently operates over 400 miles of pipeline systems and 17 processing and treating facilities.

Flow-Cal appoints new vice president of software development

Flow-Cal Inc. recently announced the promotion of David Bushell to vice president of software development. Bushell has 15 years of gas measurement and software development experience. His new role as vice president of software development will focus on streamlining all development throughout the organization with a strong emphasis on innovation, usability and customer-centric enhancements.

Koch steps into liquefied natural gas as industry signals bumper year

The energy trading division of U.S. conglomerate Koch Industries launched its liquefied natural gas (LNG) business recently with an eye on lucrative routes to Asia as demand in the region soars.

Cargoes of LNG are changing hands for more than $40 million each as sales into Asia boost trading profits among established industry players, such as BG Group which recently upped LNG profit targets for 2012 by 30%.

Koch Supply and Trading Sarl, based in Geneva, aims to begin trading cargoes of LNG in Asia, Europe and the Americas from offices in Houston, London and Singapore.

STWA Inc. appoints new chief financial officer

STWA Inc., a developer of energy efficiency technologies in the multi-billion-dollar oil pipeline and diesel engine markets, recently appointed of Gregg Bigger as its chief financial officer. Bigger is a finance executive with extensive experience in the banking sector as well as consulting experience for operating technology companies.

Gregg Bigger was most recently a founding partner of Rocfin Advisors, a strategic management consulting company providing advice and direction to a variety of clients including companies in the energy, clean technology and emerging technology markets in critical areas such as business and strategic plan development, operational efficiency design and management support, financial modeling and analysis.

Bigger was a founder and board member of the Bank of Santa Barbara, where he orchestrated the launch of the bank, raised the necessary capital, recruited and organized the board of directors, executive team and staff, assisted in developing the bank's credit policies and was responsible for execution of the bank's business strategy. Bigger will replace Gene Eichler, who served as interim chief financial officer of STWA.

Wright to retire from Williams Cos.

Williams Cos. recently announced that Phillip D. Wright will retire on April 1. Wright, age 56, is Williams’ senior vice president of corporate development.

Wright joined Williams in 1989 as a vice president for one of the company’s pipeline businesses. He has served as a senior executive of the company since 2001 in roles that included president of Williams’ gas pipeline business; chief restructuring officer; and chairman, president and chief operating officer of the first master limited partnership Williams formed.

NiSource looks for partner on wet Utica acres in eastern Ohio

NiSource Inc. recently provided additional insight into its plans for the Utica shale play in Ohio. Currently, the company is looking for a partner on liquids-rich acreage in eastern Ohio. NiSource is focused on its acreage in the eastern liquids-rich window, where analysts estimate NiSource to have about 50,000 net acres.

The company is in discussions with a number of parties regarding possible approaches and arrangements to create value from its asset. Given the interest in the liquids-rich Utica, a transaction in the next 30 to 90 days is expected by analysts. Based on analysis, the eastern Ohio assets are estimated to be worth $8,000 to $15,000 per acre, suggesting a total value of $400- to $750 million. The company is likely to farm out its acreage with no cash exchange.

BDO survey reveals unconventional targets

BDO’s annual Energy Outlook Survey of 100 chief financial officers (CFOs) of oil and gas companies revealed that CFOs are focusing on unconventional plays in 2012.

This year, 40% of CFOs plan to increase their capital investments in the exploration of unconventional areas, including shale plays, which was the most-cited investment option.

In addition, when listing their top political concerns in 2012, 39% of CFOs say energy industry-targeted tax proposals are the issue they are most concerned about in 2012. Other political worries include partisan politics in Washington (29%) and the federal budget deficit (27%).

Also, 32% of CFOs project that wind will be the biggest alternative contributor to the world’s energy needs in the next five years, followed by biofuels (19%), hydroelectric (18%), geothermal (15%) and solar (14%).

Deal making will remain robust in 2012, with the majority (52%) of CFOs surveyed expecting industry M&A activity to increase, and 46% expecting activity to remain the same.

Natural Gas Partners appoints new venture partner

Natural Gas Partners, recently announced that John A. Weinzierl has accepted a new role as a venture partner.

Weinzierl is the chief executive of Memorial Resource Development LLC and serves as the chief executive and chairman of the board of directors for the general partner of Memorial Production Partners LP. Prior to these roles, Weinzierl spent 12 years with NGP Energy Capital Management most recently as managing director and operating partner of its Natural Gas Partners funds, concentrating his efforts on sourcing investment opportunities as well as monitoring portfolio companies.

Weinzierl has more than 21 years of experience in the industry including working for Conoco Inc. as a petroleum engineer in various capacities. He served as a director for several of the company’s private portfolio companies and as a director of Eagle Rock Energy G&P LLC.