Friday, August 12, 2016

It Never Quits -- New Deepwater Port Planned For Louisiana; New Cryogenic Plant In West Texas -- August 12, 2016

From Rigzone:
A new deepwater port project planned for Louisiana aims to complement existing Gulf Coast infrastructure to service the oil and gas industry.

Located in western Louisiana on the Calcasieu Ship Channel just south of Lakes Charles, the Port Cameron project will allow for faster deployment of supply vessels, support and emergency services for exploration and production (E&P) activities in the U.S. Gulf of Mexico.

Port Cameron presents an opportunity for a brand new, modern port to be added to the Gulf Coast. Even with the oil price downturn, oil and gas activity in the Gulf of Mexico is expected to increase going forward.
Meanwhile, over at Zacks:
Enterprise Products Partners L.P. has joined forces with an affiliate of Occidental Petroleum Corporation and the duo have brought online a new cryogenic natural gas processing plant in Reeves County, TX.

Delaware Basin Gas Processing LLC, a company in which Enterprise Products Partners and Occidental each hold a 50% interest, owns the plants. The new facility will be operated by Enterprise Products Partners.

The DBGP plant can extract over 22,000 barrels per day of natural gas liquids. The plant, which has a capacity of 150 million cubic feet per day,  is supported by long-term contracts and is designed to accommodate the growing production of natural gas liquids (NGL)-rich natural gas from the Delaware Basin.

Enterprise Products Partners has completed the construction of an 82 mile, 12 inch diameter NGL pipeline along with the DBGP plant. The new pipeline links the plant to the partnership’s Chaparral Pipeline. With this, customers will gain access to the partnership’s fractionation and storage complex in Mont Belvieu, TX.
Reeves County? Far west Texas, almost in New Mexico/Mexico. County seat: Pecos. And, oh, by the way, no one really knows the etymology of "pecos."

The Market

Late day. Down 34 points. NYSE:
  • new highs: 152
  • new lows: 9
Mid-day. Down 60 points. NYSE:
  • new highs: 139: add Encana;
  • new lows: 9; add Noble Energy (NE)
Opening. Even though the market pulled back slightly on the open, there are some interesting tidbids. NYSE:
  • new highs: 69, including Dick's Sporting Goods, Enerplus, Newfield Exploration, TransCanada,
  • new lows: 4

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