American Oil and Gas Reporter - July 2023 - 18
with significant high-quality, long-dated
inventory, " adds NOG CEO Nick
O'Grady. " We are excited to work
alongside our partners at Earthstone,
developing these assets for the next
decade, and believe this transaction will
drive higher per share profits, free cash
flow and shareholder returns for our
investors, both immediately and over
the long term. "
Earthstone says the acquisition's
effective date is May 1, 2023, with
closing expected in the third quarter. ❒
Enterprise Expands
Capacity In Haynesville
HOUSTON-Enterprise Products
Partners L.P. has completed an
expansion of its Acadian Haynesville
Extension natural gas pipeline, adding
400 million cubic feet per day of
Haynesville Shale natural gas takeaway
capacity and bringing the line's total
capacity to 2.5 billion cubic feet a day.
" The expansion of the Acadian
Haynesville Extension provides
Haynesville producers with incremental
natural gas takeaway capacity and
provides additional supply to existing
and new industrial developments in the
Mississippi River Corridor and the
growing Louisiana LNG export
market, " says Natalie K. Gayden, senior
vice president of Enterprise's natural
gas business.
" Importantly, at a time when it is so
challenging to get energy infrastructure
projects approved and permitted, this
project adds the energy infrastructure
necessary to deliver abundant, reliable
and affordable natural gas to both
domestic and international markets in
today's evolving geopolitical
landscape, " she adds. ❒
Gas Storage Volumes
Add 469 Bcf In June
WASHINGTON-Underground
natural gas storage in the United States
stood at 2.805 trillion cubic feet on June
23, 14.6% above the five-year average,
according to the U.S. Energy
Information Administration. That was
up 469 billion cubic feet from the 2.336
Tcf in storage on May 19, and 566 Bcf
more than a year ago, when gas storage
stood at 2.239 Tcf.
Gas storage in the East Region was
623 Bcf on June 23, 22.9% above the
five-year average, and 134 Bcf more
than on May 19, when storage stood at
489 Bcf, 32.2% above the five-year
average. East Region gas storage on
June 23 increased 166 Bcf from a year
ago, EIA reports.
In the Midwest, gas storage stood at
685 Bcf on June 23, 20.2% above the
five-year average and 139 Bcf more
than the 546 Bcf in storage on May 19,
which was 27.6% above the five-year
average. May 19 Midwest gas storage
was 154 Bcf more than a year ago.
In the Mountain Region, EIA
continues, gas storage was 165 Bcf on
June 23, 12.2% above the five-year
average and 45 Bcf more than the 120
Bcf stored on May 19, which was 4.3%
below the five-year average. June 23 gas
storage in the Mountain Region was 32
Bcf more than a year ago.
The Pacific Region's gas in storage
was 204 Bcf on June 23, 20.3% below the
five-year average and 65 Bcf more than
the 239 Bcf stored on May 19, which was
37.4% below the five-year average.
Pacific Region gas storage on June 23 was
down 30 Bcf from a year ago.
In the South-Central Region, gas
storage levels on June 23 were 1.042 Tcf,
21.0% above the five-year average and 86
Bcf more than the 1.042 Tcf in storage on
May 19, which was 21.0% above the fiveyear
average. The June 23 gas storage
level for the South-Central Region was up
244 Bcf from a year ago. ❒
View the industry's latest
leading indicators at
www.aogr.com!
The Indiana Oil & Gas Association held its 2023 Annual Scholarship
Picnic and Golf Scramble June 9 at the CountryMark Pavilion
and Golf Course in Mt. Vernon, In. The association says 200
members and industry allies converged on CountryMark's campus
for fun, friendly competition, raffles and smoked pork chops from
the Illinois Basin's Team Smokin' Hot. Sponsored by 47 Illinois
Basin companies, INOGA notes, the event enables it to award
18 THE AMERICAN OIL & GAS REPORTER
scholarships to college freshmen seeking degrees in engineering,
geology and other industry-related disciplines. This year, INOGA
has awarded $18,000 to deserving students. LEFT: CountryMark
Safety Specialist Ben Vaupel (foreground) addresses participants,
while INOGA Vice President Travis Thompson waits to acknowledge
the event sponsors. RIGHT: Participants listen as the raffle
drawings get underway.
http://www.aogr.com
American Oil and Gas Reporter - July 2023
Table of Contents for the Digital Edition of American Oil and Gas Reporter - July 2023
Contents
American Oil and Gas Reporter - July 2023 - Intro
American Oil and Gas Reporter - July 2023 - Cover1
American Oil and Gas Reporter - July 2023 - Cover2
American Oil and Gas Reporter - July 2023 - Contents
American Oil and Gas Reporter - July 2023 - 4
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American Oil and Gas Reporter - July 2023 - Cover3
American Oil and Gas Reporter - July 2023 - Cover4
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