-EnLink Midstream will spend $250 million to build a 45-mile, 50,000-barrels-per-day condensate pipeline and six natural gas compression and condensate stabilization facilities to serve Utica Shale producers. The pipeline will connect to EnLink’s existing 200-mile pipeline in eastern Ohio and West Virginia, providing access to the company’s Bells Run barge facility and Black Run rail terminal. EnLink has secured a long-term, fee-based agreement with E&P firm Eclipse Resources for compression and stabilization services and the purchase of stabilized condensate.
-Meanwhile, the Energy Information Administration (EIA) will release a report on the costs of various crude processing facilities next month, Platts reports. The study will define splitters, stabilizers and other refining projects and will clarify what “processing” means. The report is not likely to shed light on the Commerce Department’s regulation of condensate exports.
-The Interior Department on Friday sent draft rules for oil and gas activity in Arctic waters to the Office of Management and Budget. Via FuelFix, it is the first step in a months-long process that could result in the first oil development standards specific to the Arctic. The federal government currently regulates Arctic drilling using existing general rules for offshore activity.
-Linn Energy has enlisted a pair of banks to help sell its oil producing assets in the Granite Wash formation, Reuters reports. Sources say Linn could auction off the assets for as much as $2 billion, which the company would use to pay back debt incurred to finance a recent acquisition from Devon Energy.
-WPX Energy agreed to sell its remaining mature coalbed methane holdings in the Powder River Basin for $155 million. WPX has not actively drilled in the basin since 2011. Powder River Basin production represented approximately 14% of the company’s total output last year.
