Image From ..Dept. of Energy
Kinder Morgan, the Houston-based pipeline operator, says it's investing about $107 million in the South Texas’ Eagle Ford Shale to extend its 178-mile pipeline 31 additional miles from its station in DeWitt County to a ConocoPhillips delivery facility near the Karnes County town of Helena, TX.
Construction is slated to begin in July. The expansion is expected to deliver up to 300,000 barrels per day of crude and condensate from the Eagle Ford Shale. And, they're not alone...
According to the San Antonio Business Journal, Sanchez Energy Corp., an independent oil and gas company targeting Texas shale plays, said it too will boost capital spending following its acquisition of additional Eagle Ford properties from Hess Corp. Others are also lining up to reap the rewards...
The Houston-based company’s 2013 total capital expenditure program will grow to $475 million, compared to the previously announced $347 million. More than 90 percent of the spending is directed toward the drilling and completion of approximately 47 net new wells in the Eagle Ford.
Sanchez said last week it closed on its previously announced $280.4 million purchase of Hess’ assets in the Cotulla area of the Eagle Ford.
“As a result of the closing of our Cotulla asset acquisition and an updated review of our operational opportunities, we have increased our 2013 capital program and activity levels,” company president and CEO Tony Sanchez III says. “The primary change to our capital program is the result of the addition of the new Cotulla assets, where we expect to run one rig continuously drilling approximately 10 net wells for the remainder of 2013.”
Take notice. These are the steps that are moving America. Whatever you've heard about the U.S. moving closer to energy autonomy and away from reliance on OPEC oil... it's not rhetoric; it's real and it's indisputable.