North American

Canada's Talisman Energy is making even heavier cuts to its rig count in the Marcellus Shale natural gas play and will not reverse that trend until gas prices return to $4 per Mcf, CEO John Manzoni said.

Houston-based NorTex Gas Storage Co. has changed its name to NorTex Midstream Partners, LLC, to better reflect its new midstream energy market focus and asset acquisition strategy.

Kinder Morgan Canada Terminals has a long-term contract with a major Canadian producer to support construction of an additional 1.2 MMbbls of merchant storage capacity at Trans Mountain pipeline’s Edmonton terminal in Strathcona County, Alberta.

Pelican Energy Partners LP, a specialized private equity fund, has completed its initial closing by raising $103.6 million in investment capital.

U.S. Sen. John Hoeven (R-ND) said a re-evaluation of the amount of recoverable oil in the Williston Basin is slated to be completed late next year by the U.S. Geological Survey. He said the updated assessment will likely be higher than earlier estimates and will spur more investment and infrastructure.

Marathon Oil Corp. is raising its production forecasts for its North Dakota's Bakken Shale operations. It expects production in the Bakken to average 27,500 boe/d this year, up from 24,000 bbls in December.

Kroberg Kravis Roberts & Co. L.P. has entered into a definitive agreement to acquire certain Barnett Shale and Arkoma Basin properties from WPX Energy for $306 million.

MarkWest Energy Partners, L.P. has executed long-term gathering and processing agreements with Anadarko Petroleum Corp. that will support the 120 MMcf/d expansion of the Partnership’s cryogenic processing capacity in East Texas.

Chevron Phillips Chemical Company LP will expand the Natural Gas Liquids (NGL) Fractionator Complex at its Sweeny Plant in Old Ocean, TX. Construction will start shortly and the project is anticipated to be completed by February.

Platts reports Japan and Canada agreed March 25 to cooperate on developing energy resources, including natural gas and minerals in Canada.

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