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Tristream Energy Announces Acquisition of East Texas Processing Assets

noemail@hvllc.com — Thu, 29 Jul 2010 14:00:00 GMT

HOUSTON (July 29, 2010) - Tristream Energy, LLC announced today that it acquired the East Texas gathering and processing assets of a subsidiary of Dallas-based Regency Energy Partners LP on July 15, 2010. The acquired assets include gas treating and processing facilities in Eustace, Texas, a condensate sweetening plant in Myrtle Springs, Texas, and approximately 371 miles of gathering pipeline. The assets are primarily located in Henderson, Van Zandt, Rains, Wood, Hopkins, and Franklin counties, Texas. The acquisition of the Eustace facilities will expand our midstream gas gathering business in Texas, said Ken Purgason, president and chief executive officer of Tristream Energy. We look forward to the aggressive addition of new reserves to the system and continuing our acquisition and grass roots development opportunities in the midstream gas sector. The Eustace Gas Plant is a state of the art gas treating and processing facility. It consists...

HADDINGTON SELLS BOBCAT GAS STORAGE ASSETS AND DEVELOPMENT PROJECT TO SPECTRA ENERGY

noemail@hvllc.com — Thu, 15 Jul 2010 21:00:00 GMT

Houston, Texas (July 15, 2010) - Haddington Ventures, L.L.C., announced today that it has entered into a definitive agreement to sell the Bobcat Gas Storage assets and development project to Spectra Energy Corp. (NYSE: SE), for $540 million. The Bobcat Gas Storage Project was developed by Port Barre Investments, LLC, which is owned by members of management, Haddington Energy Partners III LP, a private equity fund managed by Haddington Ventures, LLC, and GE Energy Financial Services, the energy investing unit of GE (NYSE: GE). Located in Port Barre, Louisiana, the project began development in 2006 and entered commercial operation in November 2008. Following the addition of a second cavern in 2009, the facility has working gas storage capacity of approximately 19 billion cubic feet. The Bobcat project exemplifies Haddington's strategy to acquire, develop and eventually exit midstream energy projects, said Haddington Managing Director J....

Magnum Gas Storage Application Accepted by FERC for Construction of a High-Deliverability Salt Cavern Storage Facility in Central Utah

noemail@hvllc.com — Wed, 16 Dec 2009 15:00:00 GMT

SALT LAKE CITY, Dec. 16, 2009 -- Magnum Gas Storage, LLC, announced today that the Federal Energy Regulatory Commission (FERC) has accepted its application to construct and operate a high-deliverability, multi-cycle salt cavern natural gas storage facility in central Utah under Section 7(c) of the Natural Gas Act. The proposed project is the first large-scale, underground natural gas storage facility to be developed in the Western United States. It is designed as a fully-integrated project that will increase efficiency, reliability and competitiveness of energy markets throughout the West. When completed, the facility will consist of four salt caverns with a combined total working gas storage capacity of 42 billion cubic feet (Bcf). The project will be capable of injecting up to 0.3 Bcf of gas per day and withdrawing up to 0.5 Bcf per day and of cycling its inventory from nine to 12 times annually. The project also includes a 61.5-mile, 36-inch header pipeline that will extend to...

Compressed Air Energy Storage

noemail@hvllc.com — Tue, 08 Dec 2009 15:00:00 GMT

Ever since Thomas Edison invented the light bulb, people have been searching for ever more effective ways to store electricity during periods of lower demand for later use during periods of higher demand. Beginning in 1998, Haddington Ventures and its portfolio company, CAES Development Company, began developing a newer method for the bulk storage of electricity. This method, known as compressed air energy storage (CAES), is a cost-effective, commercially-proven and environmentally sound technology used to store energy in the form of high-pressure air. CAES converts relatively abundant electricity available at night from base-load coal and nuclear power plants, or generated by intermittent renewable sources such as solar and wind, into more profitable, flexible and dispatchable energy that can be used the next day to meet rapidly changing daily demand. You may have seen the recent announcement regarding the sale of Haddington’s Norton Energy Storage Project in Norton,...

HADDINGTON SELLS RIGHTS TO ITS NORTON ENERGY STORAGE PROJECT TO FIRSTENERGY

noemail@hvllc.com — Mon, 23 Nov 2009 15:00:00 GMT

Houston, Texas (November 23, 2009) – Haddington Ventures, L.L.C., announced today that CAES Development Company, LLC, a portfolio company of Haddington’s managed funds, has sold to FirstEnergy Generation Corp., a subsidiary of Akron, Ohio-based First Energy Corp. (NYSE:FE), the rights to the Norton Energy Storage Project, a compressed air energy storage (CAES) facility under development in Norton, Ohio. “We are very pleased to have reached an agreement with First Energy for their acquisition of this project,” said Haddington Managing Director John A. Strom. “The rapid growth in renewable wind energy is accelerating the need for additional bulk energy storage to support renewable integration, and the flexibility of CAES facilities to provide both regulation and load following services, combined with their low energy production costs, are unmatched by any other natural gas-fired generation resource.” Mr. Strom noted that Haddington leveraged its...

FIRSTENERGY ACQUIRES RIGHTS TO NORTON ENERGY STORAGE PROJECT

noemail@hvllc.com — Mon, 23 Nov 2009 15:00:00 GMT

AKRON, Ohio – FirstEnergy Generation Corp., a subsidiary of Akron, Ohiobased FirstEnergy Corp. (NYSE: FE) today announced that it has purchased the rights to develop a compressed-air electric generating plant on a 92-acre site in Norton, Ohio, from CAES Development Company, LLC. The transaction includes rights to a 600-acre underground cavern, formerly operated as a limestone mine, that is ideal for energy storage technology. “The compressed-air technology envisioned at this site would essentially operate like a large battery, storing energy at night for use during the day when it is needed,” said Anthony J. Alexander, president and chief executive officer of FirstEnergy. “Because many renewable energy sources – such as wind – are intermittent, they don’t always produce power when electricity demand is high. The energy storage aspects of this project would provide a way to harness renewable energy to be used when customers need...

Bobcat Places Cavern II at Port Barre Facility In Service

noemail@hvllc.com — Mon, 09 Nov 2009 22:00:00 GMT

HOUSTON, Texas (November 9, 2009) Bobcat Gas Storage (Bobcat) announced today that it had commenced full commercial operations in the second cavern at its Port Barre natural gas storage facility in St. Landry Parish, Louisiana on October 31, 2009. Cavern II provides an additional 7.8 Bcf of working gas capacity at the Port Barre Facility.

The Bobcat Project offers customers premier interconnections with five interstate pipelines including Texas Eastern Transmission, L.P., Transcontinental Gas Pipeline Company, Florida Gas Transmission, Gulf South Pipeline and ANR Pipeline.

Bobcat offers customers both firm storage services and hub services under its FERC-approved tariff and market-based rates.

Bobcat is being developed by Port Barre Investments, LLC, which is owned by members of management, Haddington Energy Partners III LP, a private equity fund managed by Haddington Ventures, LLC and GE Energy Financial Services, the energy investing unit of GE (GE: NYSE).

MAGNUM GAS STORAGE ANNOUNCES A NON-BINDING OPEN SEASON FOR THE FIRST HIGH-DELIVERABILITY SALT CAVERN NATURAL GAS STORAGE FACILITY IN THE WESTERN U.S.

noemail@hvllc.com — Wed, 10 Jun 2009 19:00:00 GMT

Salt Lake City, Utah (June 10, 2009) — Magnum Gas Storage, LLC, announced today the start of a non-binding Open Season for its Magnum Gas Storage Project—the first large-scale, high-deliverability, multi-cycle salt cavern natural gas storage facility to be developed in the Western United States. This non-binding Open Season will extend through 5:00 p.m., Mountain Daylight Time, on July 31, 2009. The Project is located in central Utah near the town of Delta in Millard County and will offer customers highly customizable natural gas storage services that help balance the fluctuations of supply and demand. These services are ideally suited to meeting the needs of natural gas-fired electric power generation loads, natural gas distribution companies, gas producers and gas marketers in the Rocky Mountain Region, as well as other markets in the Western U.S. that require the flexibility and performance that high-deliverability natural gas storage can provide. ...

BOBCAT GAS' SALT CAVERN BEGINS NATURAL GAS STORAGE IN LOUISIANA, OWNERS GE AND HADDINGTON ANNOUNCE

noemail@hvllc.com — Wed, 12 Nov 2008 15:00:00 GMT

PORT BARRE, LA, November 12, 2008 – Bobcat Gas Storage, its owners Haddington Energy Partners III LP and GE Energy Financial Services, announced today they have introduced one of the newest natural gas storage facilities in the United States. The first cavern, which has completed its first week of successful commercial operations, is fully subscribed with customers. A second cavern is expected to be completed in the third quarter of 2009. After nearly three years of planning, permitting, construction and receipt of final permits from the state and federal agencies for the project 1.5 miles southeast of Port Barre in south-central Louisiana, Bobcat Gas Storage began providing storage services to its customers on Nov. 1. Bobcat’s initial capacity is nearly 5.4 billion cubic feet of working gas (bcfw), which is planned to be increased to 10.3 bcfw by the third quarter of 2009 with the in-service of cavern 2, which is currently under construction, and fully built-out to 15.6 bcfw by...

Endicott Biofuels and Davy Process Technology Partner to Build Next Generation Biodiesel Facilities

noemail@hvllc.com — Wed, 04 Jun 2008 20:00:00 GMT

ENDICOTT BIOFUELS, LLC AND DAVY PROCESS TECHNOLOGY LTD ENTER INTO A TECHNICAL COLLABORATION TO BUILD NEXT GENERATION BIODIESEL FACILITIES IN THE U.S. London and Houston – (June 5, 2008) – Endicott Biofuels, LLC (EBF) and Davy Process Technology Limited (DPT), a Johnson Matthey company, announced today that the two companies have entered into a long-term, multi-plant, technical collaboration to develop the next generation of biodiesel facilities in the United States. Under the agreement, EBF will be licensed to use DPT’s esterification technology in North America for a class of biodiesel plants that will be feedstock flexible, using non-food feedstocks, such as non-edible agricultural process waste products. The agreement provides for multiple plants and the sharing of intellectual property developed from the technical collaboration. EBF is currently developing its first facility, a state-of-the-art plant to produce 100,000 metric tons per year (30 million gallons) of fatty...

Bobcat Announces New Additions

noemail@hvllc.com — Fri, 07 Mar 2008 17:30:00 GMT

HOUSTON, Texas (March 6, 2008) – With the goal of moving its high-deliverability natural gas storage facility forward to the operations phase, Bobcat Gas Storage (Bobcat) recently added David H. Saindon as Chief Financial Officer and Dr. Masoud J. Kasraian as Senior Vice President of Marketing and Asset Optimization to its management team. These two additions to the Bobcat team will help position Bobcat to smoothly transfer from facility construction to facility operations and will allow Bobcat to actively pursue its short term storage and hub service business. David was a summa cum laude graduate of Texas Tech University with a degree in accounting and finance. He has over 10 years of experience in the energy including his most recent assignment as Vice President of Finance of Lodi Gas Storage, LLC. At Bobcat, David will be responsible for all financial aspects of Bobcat’s business including accounting and finance. Masoud obtained a Ph.D. in electrical engineering and a MBA...

FERC Approves the Calhoun LNG Terminal

noemail@hvllc.com — Fri, 21 Sep 2007 15:00:00 GMT

Houston – September 21, 2007 – Gulf Coast LNG Partners, L.P. (“GCLP”) announced today that the Federal Energy Regulatory Commission (FERC) has issued the order granting authorization under the Natural Gas Act for the siting, construction and operation of the Calhoun LNG facility.

“The FERC Order concludes a critical phase for our project, as it has now passed the very stringent environmental, technical and regulatory review by FERC” said Rafael Garcia, GCLP’s Executive Vice President of Asset Development. “We are very excited about this decision and thank the FERC and all the cooperating agencies for their hard work and support.”

“With completion of this major milestone for the Calhoun LNG terminal we are now able to transition our ongoing commercial efforts to the next level and are now in a much better position to conclude ongoing commercial negotiations with terminal users in the near future.” added John Godbold, GCLP’s President.

The Calhoun LNG terminal to be located at The Port of Port Lavaca – Point Comfort, Texas will have two 160,000 cubic meter full containment storage tanks with the ability to process 1.0 billion cubic feet (Bcf) per day of natural gas. The proposed Point Comfort Pipeline originating at the terminal will include about 27 miles of 36-inch pipeline, designed to transport 1 Bcf/d and will connect with nine major pipelines including 5 interstate and 4 intrastate pipeline systems serving Texas and the Midwest, Northeast, and Southeast regions of the country.

Gulf Coast LNG Partners, L.P. is a Houston-based partnership formed between Gulf Coast LNG, LLC and Haddington Energy Partners II, LP, a private equity fund managed by Haddington Ventures, LLC. Additional information about Gulf Coast LNG Partners, L.P. and the Calhoun LNG and Point Comfort Pipeline projects may be found at www.calhounlng.com.

Haddington Ventures provides capital to the energy industry, including mid-stream oil and natural gas companies and electric generation, transmission, and distribution companies, with a focus on natural gas storage, gathering and processing, and other midstream activities.

Endicott Biofuels Completes $40 Million Financing for Construction

noemail@hvllc.com — Mon, 10 Sep 2007 15:00:00 GMT

Houston, Texas (September 10, 2007) – Endicott Biofuels, LLC (EBF) announced today that it has closed a $40 million private equity financing for the construction of a second generation technology biodiesel and bio-derived products plant that will feature a high level of feedstock flexibility. The full equity financing commitment, provided by Haddington Energy Partners III LP, will allow EBF to proceed quickly through the construction and commercial operation of this first plant. EBF plans to build additional bio-fuel and bio-derived product facilities throughout the U.S. within the next two to five years. It expects to break ground in 2008 on its first plant and intends to wholesale the fuel to the developing bio-fuel brokerage market. EBF is also looking to develop relationships with potential feedstock suppliers and fuel purchasers, such as large diesel fuel consumers or large oil companies. Biodiesel can be used at 100 percent concentration as a petroleum diesel substitute, or...

FERC Issues Final Environmental Impact Statement for the Calhoun LNG Terminal

noemail@hvllc.com — Fri, 10 Aug 2007 15:00:00 GMT

Houston – August 10, 2007 – Gulf Coast LNG Partners, L.P. (“GCLP”) announced today that the Federal Energy Regulatory Commission (FERC) issued the Final Environmental Impact Statement (FEIS) for the Calhoun LNG receiving terminal and associated pipeline. In the FEIS, FERC concluded that the construction of the Calhoun LNG project, with appropriate mitigating measures as recommended, would be an environmentally acceptable action.

“The FEIS is an important milestone for the project” said Rafael Garcia, GCLP’s Executive Vice President of Asset Development. “Issuance of the FEIS clears the last step in FERC’s environmental review process before FERC may issue an order granting authorization under the Natural Gas Act for the siting, construction and operation of the Calhoun LNG facility.” John Godbold, GCLP’s President, also commented “the successful advancement on the regulatory front complements our progress in securing terminal users for the Calhoun LNG project.”

The Calhoun LNG terminal to be located at The Port of Port Lavaca – Point Comfort, Texas will have two 160,000 cubic meter storage tanks with the ability to process 1.0 billion cubic feet (Bcf) per day of natural gas. The proposed Point Comfort Pipeline originating at the terminal will include about 27 miles of 36-inch pipeline, designed to transport 1 Bcf/d and will connect with nine major pipelines including 5 interstate and 4 intrastate pipeline systems serving Texas and the Midwest, Northeast, and Southeast regions of the country.

Gulf Coast LNG Partners, L.P. is a Houston-based partnership formed between Gulf Coast LNG, LLC and Haddington Energy Partners II, LP, a private equity fund managed by Haddington Ventures, LLC. Additional information about Gulf Coast LNG Partners, L.P. and the Calhoun LNG and Point Comfort Pipeline projects may be found at www.calhounlng.com.

Haddington Ventures provides capital to the energy industry, including mid-stream oil and natural gas companies and electric generation, transmission, and distribution companies, with a focus on natural gas storage, gathering and processing, and other midstream activities.

Bobcat Seeks to Expand Capacity of Its First Two Caverns and Plans 3Q '07 Open Season

noemail@hvllc.com — Thu, 26 Jul 2007 19:00:00 GMT

HOUSTON--(BUSINESS WIRE)--Bobcat Gas Storage (Bobcat) announced today that it will file with FERC for authorization to expand its first two caverns from 6.75 Bcf to 7.8 Bcf working gas capacity each. Bobcat has completed the drilling of its first storage cavern well and will immediately commence leaching operations with an expected in service date of October 2008. Bobcat currently has FERC authorization to construct two natural gas storage caverns with a working gas capacity of approximately 6.75 Bcf per cavern. Since the original authorization, additional testing has revealed that the Bobcat salt is capable of supporting a larger amount of working gas per cubic foot than originally anticipated, permitting greater operational efficiency and resulting in a substantially higher level of working gas capacity than previously planned. Bobcat also announced that it plans to hold an open season in the 3rd quarter of 2007 for the anticipated 7.8 Bcf of working gas capacity from its second...

Haddington Ventures Announces Resignation of Co-Founder Larry Bickle

noemail@hvllc.com — Thu, 03 May 2007 15:00:00 GMT

Houston, Texas May 3, 2007 -- Haddington Ventures, L.L.C. announced today that it has accepted the resignation of Dr. Larry W. Bickle, Principal and Managing Director, and has entered into an agreement to purchase Dr. Bickle’s interest in Haddington and various affiliates.

Dr. Bickle said he plans to spend time in the future at the operating company level mentoring young people. “As an engineer and an entrepreneur by background, I look forward to getting back to my roots of building projects and growing people,” he said. “My goal is to help younger entrepreneurs learn how to interact appropriately with high quality sources of capital such as Haddington.”

Dr. Bickle co-founded Haddington with Chris Jones, John Strom and Scott Jones in 1998. Previously, Dr. Bickle was Chairman and Chief Executive Officer of Tejas Power Corporation (TPC), which he co-founded in 1984. TPC became a major participant in the deregulated natural gas marketing, pipeline and storage business prior to its purchase by PacifiCorp in 1997.

“We wish Larry the best in his new ventures,” said Managing Director Chris Jones. “Our team has worked together for more than 20 years, and in that time, we have provided outstanding returns to investors, meaningful employment to hundreds of people and had a lot of fun ourselves.”

KOGAS, LG International, and EMS Group join forces with Gulf Coast LNG Partners, LP in the Calhoun LNG Project

noemail@hvllc.com — Thu, 22 Mar 2007 15:00:00 GMT

Houston, 22 March 2007 – To meet the challenge of the growing demand for natural gas in the United States and to provide a safe, reliable, long-term, and competitive source of energy, Gulf Coast LNG Partners, L.P. (GCLP) is developing a Liquefied Natural Gas (LNG) receiving, storage, and re-gasification facility at The Port of Port Lavaca - Point Comfort, (the Calhoun LNG Terminal Project). GCLP announced today that it is has executed a Memorandum of Understanding (MOU) for the Consortium of KOGAS, LG International, and Houston based EMS Group (Port Lavaca LNG Services, LLC) to be the Operator for the Calhoun LNG Terminal. The Consortium has also agreed to participate as an equity owner in the Calhoun LNG Terminal. The Port Lavaca LNG Services Consortium members collectively bring extensive Operations & Maintenance (O&M) experience and capabilities and commercial and technical expertise in the LNG business to Calhoun LNG. KOGAS is the largest buyer of LNG today, as...

GE Unit Makes First Investment in Natural Gas Storage, Expanding Its Midstream Assets

noemail@hvllc.com — Wed, 21 Feb 2007 17:15:00 GMT

PORT BARRE, La. and HOUSTON, Feb. 21, 2007 – GE Energy Financial Services, a unit of General Electric (NYSE: GE), is making its first investment in natural gas storage, acquiring a preferred equity interest in an underground salt dome storage project in Louisiana for $65 million from Haddington Energy Partners III LP, a Houston-based, energy-focused private equity fund. The investment, which will also help cover the project’s capital expenditures, enables GE Energy Financial Services to expand in midstream energy, where it already co-owns pipelines, retail distribution and gas processing assets. The Bobcat gas storage project -- which the fund’s sponsor, Haddington Ventures, LLC, sourced and developed -- is strategically located in St. Landry Parish, Louisiana, 45 miles from Henry Hub, the clearing point for NYMEX natural gas futures contracts and the most liquid trading point in the natural gas over-the-counter and cash markets. GE Energy Financial...

Haddington Ventures to Fund Tristream Energy's Growth in Midstream Energy Sector

noemail@hvllc.com — Tue, 13 Feb 2007 17:15:00 GMT

Sugar Land, Texas (February 13, 2007) – Haddington Ventures, L.L.C and Tristream Energy, LLC announced today that Haddington Ventures has made a majority equity investment in Tristream to fund its growth in the midstream energy sector. Tristream Energy develops, acquires and operates midstream infrastructure downstream of producer facilities in major U.S. producing basins. Tristream management is experienced in the full range of midstream operations including onshore and offshore gathering, conventional/non-conventional gas, nitrogen rejection, compression, hydrocarbon or acid gas reinjection, gas treating, processing, product fractionation and storage. Tristream Energy is led by Ken Purgason, President and CEO, Tony Catalano, Executive Vice President and COO and Mike Urban, CFO. These experienced energy executives were most recently associated with the highly successful Sago Energy, LP, a midstream energy company also backed by Haddington Ventures. In 1998, Messrs....

IACX Energy Formed to Provide Small Scale Nitrogen and CO2 Removal Solutions to Natural Gas Producers

noemail@hvllc.com — Mon, 12 Feb 2007 16:00:00 GMT

Dallas, Texas (February 12, 2007)—Haddington Ventures, LLC and Inter-American Corporation announced today that they have formed a new midstream energy venture, IACX Energy LLC (IACX). Haddington Energy Partners III, LP, a fund managed by Haddington, has made an initial commitment of $10 million to the new venture. IACX provides low-cost processing alternatives for upstream producers looking to unlock value in stranded, low-BTU gas reserves. Estimated to represent 23 percent of the proved domestic natural gas base, low-BTU reserves are methane deposits with unacceptable percentages of nitrogen and/or carbon dioxide. These inert contaminants can lower the combustibility or BTUs per cubic foot of gas to levels below that of typical pipeline specifications. IACX builds, owns, and operates proprietary pressure swing adsorption processing assets that extract nitrogen and carbon dioxide from contaminated gas streams. IACX’s technology is especially notable because of its...