NuStar signs new Eagle Ford shale deals

NEW YORK, July 29 (Reuters) - NuStar Energy LP (NS.N) signeddeals with Valero Energy Corp (VLO.N) and EOG Resources (EOG.N)regarding the Eagle Ford shale oil play in south Texas, NuStar

Chief Executive Curt Anastasio said on Friday during anearnings conference call with analysts.

Anastasio said the deal with EOG subsidiaries included the

construction of a 70,000 barrel-per-day loading facility at

of360,000 barrels per day in extra tank storage.

NuStar's St. James, Louisiana, terminal and the constructio

n "The project will give our customer access to productionfrom the docking Eagle Ford and other developing shale playsthe opportunity to blend additional crudes in order to supply

the LLS market," said Anastasio, referring to the popular

intoSt. James.

benchmark crude, Light Louisiana Sweet, which is delivere

dAnastasio expects the project to come into operation during

the second quarter of 2012.

In addition, NuStar and Valero Energy have inked twothroughput and proficiency agreements related to Eagle Ford which includes several of NuStar's existing pipeline assets and

the construction of a new pipeline.

Source: Reuters

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Eagle Ford's Job Boom Gets Louder

CARRIZO SPRINGS — It’s lunchtime at Lee’s Steakhouse and the restaurant has few empty seats.

A nearby convenience store is crowded with long lines at the two registers and a queue at the gas pumps. Roads are clogged as tankers barrel through to deliver equipment to remote oil rigs.

Welcome to a county at the heart of the Eagle Ford shale, which some have called the most promising oil play in the nation.

Just two years ago, no one would have suspected that Dimmit County, pegged by the U.S. census as the 19th-poorest county in the United States, would be at the heart of a boom. There were few wells being drilled in the region, and local businesses were begging for customers.

But drilling in the Eagle Ford, a 400-mile-long formation stretching from East Texas to Webb County, has touched off a hiring frenzy in South Texas that is generating thousands of jobs.

Source: My San Antonio


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Houston Company Plans to Rebuild Pipeline, Terminal and Storage Facility

A Houston-based pipeline partnership said Tuesday it will build a 130-mile pipeline to transport crude oil from the western region of the Eagle Ford shale to Corpus Christi and other Gulf Coast markets.

Plains All American Pipeline LP said it also will build a marine terminal and 11/2 million barrels of storage capacity to service growing Eagle Ford production.

The project is expected to cost $330 million and be completed in the fourth quarter of 2012. The pipeline will be capable of handling 300,000 barrels of oil a day from the Eagle Ford shale, the vast play that underlies 24 counties from East Texas to the border. Plains also said it has signed a long-term agreement with a subsidiary of Chesapeake Energy Corp. to transport its oil to the Gulf Coast. It said Chesapeake Midstream Development LP will have the opportunity to acquire as much as a 25 percent interest in the project.

Soucre: My San Antonio 


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