Killajoules

MSC Statement on Shell Chemical LP Ethane Cracker Announcement
Marcellus Shale Coalition president Kathryn Klaber issued the following statement on Shell Chemical’s announcement that it will move forward with evaluating a location for a potential ethane cracker in Beaver County, Pennsylvania:

Crestwood Midstream Partners and Crestwood Holdings to Acquire Antero Resources’ Marcellus Shale Gathering Assets for $375 Mill
Crestwood Midstream Partners LP (NYSE: CMLP), Crestwood Holdings Partners LLC (“Crestwood Holdings”) and Antero Resources Appalachian Corporation (“Antero”) announced today the execution of definitive agreements whereby CMLP and Crestwood Holdings, through a newly formed joint venture (“Crestwood Marcellus Midstream”), have agreed to acquire certain of Antero’s Marcellus Shale gathering system assets located in Harrison and Doddridge Counties, West Virginia for $375 million in cash plus an earn-out which would allow Antero to earn additional purchase price payments of up to $40 million based upon average annual production levels achieved during 2012 and 2013.

Williams Partners Agrees to Acquire Laser Northeast Gathering System in Marcellus Shale
Williams Partners L.P. (NYSE:WPZ) today announced it has agreed to acquire the Laser Northeast Gathering System and other midstream businesses from Delphi Midstream Partners, LLC for approximately $750 million. Delphi Midstream Partners, LLC is owned by American Securities LLC and management.

Leading Players Spectra Energy, American Electric Power and Chesapeake Energy Announce an Agreement of Intent to Develop Ohio In
Spectra Energy Corp's (NYSE: SE) Texas Eastern Transmission, LP (Texas Eastern), American Electric Power (NYSE: AEP) and Chesapeake Energy Marketing, Inc., a wholly owned subsidiary of Chesapeake Energy Corporation (NYSE: CHK), today announced their intention to advance the development of the Ohio Pipeline Energy Network (OPEN) project, a proposed expansion of the Texas Eastern pipeline system that will connect Ohio's Utica and Marcellus shale gas supplies with the fast-growing markets attached to the Texas Eastern system, in particular natural gas-fired power generation.

USGS Releases New Assessment of Gas Resources in the Marcellus Shale, Appalachian Basin
The Marcellus Shale contains about 84 trillion cubic feet of undiscovered, technically recoverable natural gas and 3.4 billion barrels of undiscovered, technically recoverable natural gas liquids according to a new assessment by the U. S. Geological Survey (USGS).

Baker Hughes Opens Marcellus Shale Repair and Maintenance Center
Baker Hughes (NYSE: BHI) announced today the opening of its Hempfield Township, Pennsylvania, repair and maintenance center. The facility will support natural gas well drilling, completion and production operations in the Marcellus Shale. The 57,000-square-foot center represents a $16 million investment and is part of a multiyear $250 million infrastructure investment to support Marcellus Shale operations. Baker Hughes currently operates from 27 locations and employs nearly 1,000 people in the region.