Articles tagged Foothills

In the largest transaction of its kind, TC Energy Corp. has agreed to sell equity interest in two of its Canadian natural gas pipelines to an Indigenous-owned investment partnership.

Foothills Exploration Inc. has acquired a 21% working interest in a pair of horizontal wells in Utah’s Uinta Basin from an undisclosed party. Financial terms of the deal were not disclosed.

Foothills Exploration Inc. plans to re-enter two wells in Utah's Uinta Basin next month and develop a comprehensive drilling program within two months for acreage it acquired last December.

Denver-based Foothills Exploration Inc. said it will purchase 67,330 gross acres (49,600 net) in the Uinta-Piceance Basin from an undisclosed seller. Financial details were not released. The acreage is 100% held by production, and the deal includes 85 wells, 31 of them producing and 54 of them shut-in. All but 19 of the wells will be operated by Foothills. The deal, which would deliver 100% working interest (87% net revenue interest), "bolsters the company's current acreage position in the Rockies and specifically in the Uinta-Piceance Basin to over 100,000 acres, while adding significant proven reserves and expanding proved undeveloped drilling inventory," Foothills said. The deal is expected to close by the end of June.

The Alaska Department of Natural Resources (DNR) is expecting to hold its annual sale of oil and gas lease tracts in the Beaufort Sea, North Slope and North Slope Foothills on Nov. 7. The sale area encompasses 14.7 million acres, an area the size of Massachusetts, Vermont and Connecticut combined.

The state of Alaska pushed back the date of its annual Beaufort Sea, North Slope and North Slope Foothills lease sale to possibly expand the sale's North Slope acreage offering as well as provide prospective bidders additional time to prepare.

Monroe Gas Storage Co., a venture of Foothills Energy Ventures LLC and High Sierra Energy LP, is holding a binding open season for up to 1 Bcf of firm, high-deliverability capacity at its Monroe Gas Storage facility under construction near Amory, MS. The facility will use a depleted gas reservoir to provide multi-cycle storage with a maximum injection capability of 445 MMcf/d and a maximum withdrawal capability of 465 MMcf/d. The project will have dual interconnections to Texas Eastern Transmission Co. in the M1 market zone and Tennessee Gas Pipeline into the 500 Leg in Zone 1. The company expects the capacity will be available July 1. The open season runs through April 28. For a bid package contact Kevin Legg at (303) 951-4280 or klegg@foothillsenergy.com. Information is available at www.monroegasstorage.com.

FERC gave Monroe Gas Storage Co. LLC, a joint venture of Foothills Energy Ventures LLC and High Sierra Energy LP, approval to begin construction of a 12 Bcf multi-cycle natural gas storage facility near Amory, MS. The facility will have a maximum injection capability of 445 MMcf/d and a maximum withdrawal capability of 465 MMcf/d. It will have dual interconnections to Texas Eastern Transmission in the M1 market zone and Tennessee Gas Pipeline into the 500 Leg in Zone 1. Monroe expects the facility to be in full service in the fourth quarter of this year. The Federal Energy Regulatory Commission approved the storage project in December 2007 (see Daily GPI, Dec. 21, 2007).

Monroe Gas Storage Co. LLC, a joint venture of Foothills Energy Ventures LLC and High Sierra Energy LP, is holding a binding open season for up to 5.3 Bcf of firm, high-deliverability storage capacity at its proposed Monroe Gas Storage facility being developed near the city of Amory, MS.

From remote foothills of the Rocky Mountains to the outskirts of the Alberta capital of Edmonton, "unconventional" has become the watchword among Canadian producers mounting natural gas supply development programs.