Permian Basin is proving to be the gift that keeps on giving as production levels continue to soar, according to a report by GlobalData. Companies involved in the basin have been richly rewarded up until this point, and can anticipate even greater productivity in the future.

Houston-based Swift  Energy Co. has a long-term agreement for natural gas gathering and processing services for its LaSalle County, TX natural gas production with Eagle Ford Gathering LLC, a 50/50 joint venture between Kinder Morgan Energy Partners, L.P. and Copano Energy, L.L.C. Swift will have up to 40 MMcf/d of firm capacity available on the system by the fourth quarter.

Gulfport Energy Corp. completed definitive agreements with MarkWest Utica EMG L.L.C. to construct and operate gas gathering pipelines and processing facilities associated with Gulfport's development of its Utica Shale acreage in eastern Ohio.

Pittsburgh-based EQT Corp. has launched a pilot program to begin converting drilling rigs to liquefied natural gas (LNG), displacing the diesel used to power equipment at the well site.

Aubrey McClendon, the embattled chief executive of Chesapeake Energy, will relinquish his title as chairman of the board. That followed an announcement by Chesapeake that McClendon agreed to negotiate an early termination of the controversial Founder Well Participation Program which allowed him to take personal stakes in wells drilled by the company.

Inergy Midstream, L.P. (NRGM) acquired 100% of the membership interests in US Salt, LLC (US Salt) from Inergy, L.P. for $192.5 million.

Rex Energy Corp. of State College, PA, together with its partners in Keystone Midstream Services, LLC, has closed on the sale of Keystone to a subsidiary of MarkWest Energy Partners L.P. The sale includes two cryogenic gas processing plants, the Sarsen Plant and newly commissioned Bluestone Plant, with a combined 90 MMcf/d of capacity, a gas gathering system and associated field compression in Butler County, PA.

North Dakota has passed Alaska to become the second-leading oil-producing state in the nation, trailing only Texas. North Dakota oil drillers pumped 17.8 million barrels in March, with a daily average of 575,490 barrels, Assistant State Mineral Resources Director Bruce Hicks told The Associated Press. That compares with 17.5 million barrels in Alaska, though still far behind Texas.

Midstream development companies have spent hundreds of millions of dollars in developing the pipeline needed to move the products produced in the Eagle Ford Shale region to the refineries and processing plants located in close areas.

DCP Midstream has more than $2 billion of capital investment under way in the Midcontinent, significantly enhancing its leading position in the area as the largest gatherer and processor of natural gas. The growth projects will supply producers with full-value chain service, including NGL takeaway services to the premium Mont Belvieu, TX market.

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