HOUSTON - (Business Wire) NorTex Gas Storage Company, LLC, a subsidiary of Falcon Gas Storage Company, Inc., today announced that it will hold a binding open season for firm gas storage and transportation services at its Hill-Lake Gas Storage Facility in Eastland County and its Worsham-Steed Gas Storage Facility in Jack County, Texas. The open season starts today and ends on March 7, 2008.
These firm services, available beginning April 1, 2008, include up to 4 Bcf of high-deliverability, multi-cycle (HDMC) working gas capacity with a maximum of six inventory cycles per year, intraday load following and hourly balancing (LFHB), and gas transportation services via Falcon’s recently completed 60-mile, 24” high-pressure gas transmission Worsham-Steed Pipeline. Traversing Jack, Parker and Hood Counties, the Worsham-Steed Pipeline delivers Barnett Shale gas production to export markets through interconnects with the Atmos Line-X and Enterprise/Energy Transfer North Texas Pipelines.
Falcon’s LFHB service is a firm hourly balancing service tailored for the highly volatile power generation market in Texas, managing 24-hour ratable gas flows with hourly peak and off-peak gas-fired electric power dispatch. The LFHB service allows shippers to inject gas into Falcon facilities off-peak for any hourly period and withdraw gas during peak power demand periods for any hourly period.
“We’ve spent the last year finishing our NorTex facilities build-out with the expansion of our Hill-Lake and Worsham-Steed storage facilities and the completion of our 60-mile Worsham-Steed gas pipeline,” said Falcon Chief Commercial Officer Jeff Foutch. “This brings our NorTex HDMC gas storage capacity at Hill-Lake and Worsham-Steed to nearly 35 Bcf combined and gives us the ability to transport over 450 MMcfd of which we have allotted 150 MMcfd for third-party Barnett Shale gas production to be transported to other markets. Although most of our storage and transportation capacity was committed in advance of the most recent expansions, we’re pleased to be able to offer the remaining capacity in this open season.”
All bids are due by 5:00 p.m. CST on March 7, 2008. For more information on the open season, see Falcon’s Web site at www.falcongasstorage.com, or contact Chief Commercial Officer Jeff Foutch, jhfoutch@falcongasstorage.com, at 713.623.5906 or Marketing Vice President John Holcomb, jholcomb@falcongasstorage.com, at 713.623.5908.
About Falcon Gas Storage Company, Inc.
Through its wholly owned subsidiaries and affiliated companies, Houston-based Falcon Gas Storage Company is one of the largest independently owned developers and operators of high-deliverability, multi-cycle (HDMC) natural gas storage capacity in the United States. Falcon’s NorTex Gas Storage Company subsidiary owns and operates 35 Bcf of gas storage capacity with nearly 1.0 Bcfd of aggregate deliverability from Hill-Lake and Worsham-Steed. Through its MoBay Storage Hub LLC affiliate, Falcon is developing a 50 Bcf HDMC gas storage project in southern Alabama with 1.0 Bcfd of injection and withdrawal capacity. In addition, Falcon is developing a 20 Bcf HDMC gas storage project in the Desert Southwest that will be located near the San Juan Blanco Hub. Falcon subsidiaries also are involved in crude oil production, including enhanced oil recovery; natural gas transportation, processing and NGLs production; and natural gas, crude oil and NGLs marketing and trading. Visit Falcon at www.falcongasstorage.com.
Falcon Gas Storage Company, Inc.
Jeff Foutch, 713-623-5906
jhfoutch@falcongasstorage.com
or
John Holcomb, 713-623-5908
jholcomb@falcongasstorage.com
or
Encore Communications
Carole Minor, 713-880-9550
cminor@encorecommunications.com
