Pennant Midstream, LLC, Announces Construction of New Natural Gas Liquids Pipeline

By -
NEW MIDDLETOWN, Ohio, Sept. 30, 2013 /PRNewswire/ -- Pennant Midstream, LLC, today announced the construction of a 12-inch, 38-mile natural gas liquids (NGL) pipeline, an approximately $60 million investment. The line will connect the Hickory Bend Cryogenic Processing Plant in New Middletown, Ohio, to the UEO Kensington facility near Kensington, Columbiana County and will have the capacity to initially deliver approximately 90,000 barrels a day. NiSource Midstream Services, LLC, operates Pennant Midstream, which is jointly owned by Harvest Pipeline (an affiliate of Hilcorp Energy Company) and NiSource Midstream Services.
"The construction of new infrastructure is critical to unlocking the potential of the Utica Shale play in Ohio," said Jimmy D. Staton, Columbia Pipeline Group and NiSource Midstream Services CEO. "This partnership will not only provide a key link in that infrastructure, it will provide economic-related benefits for companies and residents of Ohio and the Appalachian Basin."
Steve Jacobs, President of Harvest Pipeline said, "We are delighted to be a part of this critical project in the development of the Utica Shale, particularly with our partners at NiSource Midstream Services, who have a proven track record in midstream operations. This project is an important milestone in advancing the development of the Utica Shale formation in Ohio."
The construction of this line enhances the Pennant gathering and processing facility to become a full-service solution for providers in the northern Utica, offering access to wet gas gathering and processing, as well as residue gas and NGL takeaway to attractive market destinations.
The pipeline is under construction and is expected to be completed by July 2014. The initial NGLs will be delivered to the UEO NGL pipeline originating in Columbiana County, Ohio, and transported via the existing UEO NGL infrastructure to the fractionator at UEO Harrison Hub in Harrison County, Ohio.

About NiSource Midstream Services
NiSource Midstream Services (NMS), part of the Columbia Pipeline Group (CPG), is a wholly-owned entity of NiSource Inc. (NYSE: NI), a Fortune 500 energy utility company. NiSource Midstream Services was formed to provide specific natural gas producer services, including gathering, treatment, conditioning, processing and liquids handling with a focus on the Appalachian Basin. NiSource Midstream Services is focused on meeting the infrastructure needs of both conventional and shale gas producers in a cost-effective, safe and reliable manner.
About Harvest Pipeline Company
Harvest Pipeline Company is an affiliate of Hilcorp Energy Company that owns and operates midstream assets. Hilcorp, founded in 1989, is one of the largest privately-held independent oil and natural gas exploration and production companies inthe United States. Headquartered in Houston, TX, with over 1100 employees, Hilcorp has operations across the United Statesincluding the Gulf Coast of Texas and Louisiana, Northeast US and Alaska's Cook Inlet.
.About Columbia Pipeline GroupAs units of NiSource Inc., the CPG companies also include Columbia Gas Transmission, Columbia Gulf Transmission, Crossroads Pipeline, Central Kentucky Transmission and Hardy Storage. Combined with CPG's operation of Millennium Pipeline Company, the CPG companies operate about 15,000 miles of interstate natural gas pipeline and 37 storage fields, delivering over 1 trillion cubic feet of natural gas per year. For more information about Columbia Pipeline Group, please visitwww.columbiapipelinegroup.com. Connect with CPG on Facebook at www.facebook.com/columbiapipelinegroup.
Caution Regarding Forward-Looking StatementsThis news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of Columbia Pipeline Group ("CPG") and NiSource Midstream Services, LLC ("NiSource Midstream") and their respective management. Although CPG and NiSource Midstream believe that their expectations are based on reasonable assumptions, they can give no assurance that their goals will be achieved. Readers are cautioned that the forward-looking statements in this release are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those indicated by such forward-looking statements and that past performance may not be indicative of future performance. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the matters set forth in the "Risk Factors" Section and the Note regarding forward-looking statements in NiSource Inc.'s ("NiSource") 2012 Form 10-K and 2013 Forms 10-Q, many of which are risks beyond the control of NiSource, CPG, and NiSource Midstream. NiSource, CPG, and NiSource Midstream expressly disclaim a duty to update any of the forward-looking statements contained in this release.
SOURCE NiSource Midstream Services; Pennant Midstream, LLC

Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

By -
Image
From Energy in Depth: There is something very strange going on along Carter Road, in Dimock, Pennsylvania, and I’m not speaking of natural gas, methane migration, contamination, litigation or even the extensive water testing there by the EPA and others.  No, I’m talking about a new “Watergate” conspiracy, complete with 18 minutes of missing tape (well, video, actually). It seems the ever-present Green Party member and  naturist   Vera Scroggins  (a/k/a  Vera Duerga ) has posted a video of Craig Sautner meeting with the EPA.  Mysteriously, the video is but 14 seconds in length, cutting off conversation in what is obviously mid-stream.  It raises a question Craig Sautner, like  Ronald Reagan in Kings Row , might have asked, “Where’s the rest of me?’  Carter Road, isn’t Kings Row, of course, (at least not until you arrive at  the mansion Scott Ely, one of the Dimock litigants, is building with his royalty money ), but there appears to be a whole lot of film editing going on there to fi
Read more

The Second Largest Oil and Gas Merger - Cabot and Cimarex

By -
Image
       Due to investor pressure, the U.S shale drillers are being pushed to improve financial and operational performance after a few years of poor returns. Even though the industry has improved its numbers, when compared to last year, investors still want more to be done for them to earn more money.      That's why two mid-tier shale drillers, Cabot and Climarex, have decided to merge in order to eliminate $100 million in annual costs, which means more money for the investors. This all-stock transaction is valued at about $7.4 billion, which is relatively high for the oil and gas sector.      The new entity will be renamed and the headquarters located in Houston, Texas. Cabot shareholders will own 49.5 percent of the new entity, and Climarex the rest.       The Cimarex-Cabot merger will address the investor's demand for a higher amount of returning cash. The initial plan is to pay a 50-cent-per-share special dividend on closing the deal while offering a quarterly variable div
Read more

Is a Strong Oil Demand Expected This Year?

By -
Image
  According to the world's largest oil traders, global oil demand is set for a rebound. Between now and the end of 2022, global consumption is expected to increase by up to 8 million barrels each day. Vitol Group, the world's largest oil trader, supports this statement.  In an interview with Bloomberg, Vitol's chief executive Russell Hardy said, "We'll need all eight cylinders to get through 2022". This, of course, is due to the lower than average demand for oil at the moment. Reopening economies and Asian markets will create a strong demand rebound by the end of this year and in 2022.  Although the demand for jet fuel will slowly increase, it will still be below average at the end of the year. Nevertheless, a surge in petrochemicals will offset the expected delay in jet fuel demand. Last year, the oil surplus reached a record of 1 billion barrels. This excess is already more than halfway drained, and experts believe it will be depleted by the third quarter th
Read more