Houston, TX – February 15, 2006 – Bobcat Gas Storage (Bobcat) filed an application requesting regulatory approval from the Federal Energy Regulatory Commission (FERC) to construct and operate a new, high deliverability storage project located in St. Landry Parish, Louisiana. Bobcat will be located in close proximity to Eunice, Louisiana and the Henry Hub, two of the premier gas trading centers in the Gulf Coast region.
Bobcat is in a unique competitive position located between the production zone, where supply is gathered and aggregated, and the market zone, where larger diameter interstate pipelines make deliveries to energy consumers and businesses. This premier location allows Bobcat to access many different sources of supply and deliver to multiple market regions through its planned connection with five interstate and one intrastate pipeline systems.
“These superior interconnections maximize customer access while minimizing Bobcat’s pipeline construction, interstate pipeline rate stacking and fuel charges,” said Jamie Craddock, Vice-President, Bobcat Gas Storage. “The resulting effect is that Bobcat’s customers could pay less for incremental delivered storage services capitalizing on Bobcat’s lower rates for service and the reduction in pipeline charges and fuel to move their gas to and from the Bobcat facility to market.” Craddock added, “The Bobcat project, with its customer friendly simple tariff and flexible services, is beneficial to many segments of the energy market, including LDCs, regional marketers, and commercial companies, while also supporting initiatives for new LNG regasification development by providing a balancing tool for terminal developers and regasified LNG consumers.”
With six interconnections, offering many sources of supply and serving many market centers, the Bobcat Project serves as a tool to help the optimization of the pipeline grid in the Gulf Coast area. Independent storage, by nature of its independence, seeks to develop and build projects that benefit the entire energy community and the existing pipeline infrastructure, and is not held hostage to maximizing value on one pipeline system.
As part of the storage project, Bobcat proposes to develop two salt caverns with a total working gas capacity of 12.0 billion cubic feet (Bcf), injection capacity of 900 million cubic feet (MMcf) per day and maximum withdrawals of 1,200 MMcf per day. Bobcat plans to hold an open season in March of 2006 and is requesting FERC authorizations by July 15, 2006.
“This approval date from FERC will allow Bobcat to begin construction before the rainy season in Louisiana to meet our targeted Winter 2007 in-service date,” said Paul Bieniawski, Vice President, Bobcat Gas Storage. “Reaching our target in-service date and bringing this project to the market will help mitigate ongoing supply constraints resulting from Hurricanes Katrina and Rita, coincide with the in-service date proposed by certain LNG import terminals in the Gulf Coast region, and bring positive economic benefits to the State of Louisiana and the local Port Barre community.”
Prospective customers seeking additional project information or wanting to discuss storage opportunities at Bobcat are asked to contact Jamie Craddock in Houston, Texas at (713) 320-0561. Additional information is available at www.bobcatstorage.com.
Bobcat is being developed by Port Barre Investments, LLC. Port Barre Holdings LLC and Port Barre Investments, LLC are owned by Haddington Ventures III, L.L.C. Haddington 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 mid stream activities.