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Miami October 2010 Mike Bryant Director Gas Operations. Steadily Climbing Supply. U.S. Lower 48 Production. Rig Counts - Still Meaningful?. Rig Count and Lower 48 Production. Unconventional Gas “Hot Spots”. Shale Rig Counts. Haynesville. Barnett. Eagle Ford. Fayetteville. Woodford.

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Miami

October 2010

Mike Bryant

Director Gas Operations


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Steadily Climbing Supply

U.S. Lower 48 Production


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Rig Counts - Still Meaningful?

Rig Count and Lower 48 Production



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Shale Rig Counts

Haynesville

Barnett

Eagle Ford

Fayetteville

Woodford


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How Much Gas is Down There?

  • According to ICF International, the U.S. has a resource base of over 2,800 Tcf, recoverable using current technologies

    • Enough to meet consumption needs for more than 130 years

    • Around 1,500 Tcf is economically recoverable at price of $5.00

    • Improving technologies should increase the estimate over time


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Shale Forecasts Going Up

Wood Mackenzie

2020 Production Forecast


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Regional Supply Outlook

Sep 2010 Long Term View


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Haynesville Shale

Shifting Focus Area

TEXAS

LOUISIANA


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Haynesville Shale Growth

  • Growth of 2 Bcf/day over the past year

  • Backlog of as many as 300 wells (drilled and waiting on completion) suggests further production gains to come

  • Numbers support increased rig efficiencies

  • Since Q3 ‘08:

    • average well depths have increased 7%

    • Days to compete wells have decreased by 35%

Sep 2010 Long Term View

- Enbridge presentation


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Eagle Ford Shale

  • Petrohawk discovery in South Texas; potentially spanning as many as 11 counties

  • For many years, the shale was known by South Texas drillers as a nuisance – tough to drill through on the way to other formations.

  • First well came in at 9.1 MMcf/d, higher than average Barnett Shale wells

  • Wells have tested as high as 17 MMcf/d (dry) to nearly 20 MMcf/d (wet)

  • High quality gas and condensates


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Eagle Ford Shale

  • Current production around 400 MMcf/d

  • Some estimates have production at 4 Bcf/day by 2015

  • Current infrastructure focus on midstream facilities


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Marcellus Shale

  • Some estimates have as much as 8 Bcf/day by 2014

  • Current production over 1.3 Bcf/day

  • In 2008, forecasted production did not reach 1 Bcf/day until 2014!


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Fayetteville Shale Going Strong

  • New takeaway pipelines have driven production increases

    • Fayetteville Lateral in 2009

    • Fayetteville Express to start up by next month

    • Expected to peak at around 3.5 Bcf/day by 2021 (Wood Mackenzie)

Source: Arkansas Oil & Gas Commission


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We Can’t Forget the Barnett…

  • The largest gas–producing field in the country

  • Drilling is active around smaller areas with oil and liquids



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FGT Phase VIII Expansion Project

  • Design capacity 820,000 MMBtu/d

  • Shippers – FP&L, Progress, Seminole, Tampa Electric, OUC, Tallahassee

  • FERC approval received – Nov. 2009

  • Target in-service date – April 2011

  • Total capacity into Florida of 3.1 Bcf/day


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2010 Throughput

Daily Deliveries In Florida

HighLow

2.406 Bcf 1.230 Bcf

Peak Day Deliveries in Florida

Volume# of Days

> 2.4 Bcf 1

> 2.3 Bcf 23

> 2.2 Bcf 52

> 2.1 Bcf 43

Daily Average Deliveries

June – August

2.23 Bcf/d

99% Load Factor


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FGT Storage Connections

Egan

Napoleonville

Southern Pines

Bay Gas

Spindletop

Golden Triangle

Bobcat

Petrologistics

Tres Palacios

Pine Prairie

  • Golden Triangle in-service December 2010

  • Direct connections with 10 storage facilities

  • Total storage capacity of over 175 Bcf

  • Over 4 Bcf/day of receipt capacity from storage


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New / Expanded Supply Options

Enterprise – Acadian

1.0 Bcf/d

FGT/Transco – Citronelle

1.1 Bcf/d

Golden Pass

250 MM/d

Gulf LNG/Pascagoula Lateral

342 MM/d


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Golden Pass Terminal & Pipeline

Golden Pass Interconnect

250 MM/d

  • Qatar Petroleum & Exxon Mobil Corp.

  • LNG Terminal – 2 Bcf/d sendout capacity

  • Will be commissioning terminal late 2010

  • Golden Pass Pipeline – 2.5 Bcf/d

  • Interconnect with FGT in Orange Co., TX


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FGT / Transco Citronelle Interconnect

Transco

Sta. 85

  • Planned upgrades at Citronelle will increase

  • capacity to 1.1 Bcf/d in 2011

  • Transco expansion projects provide

  • southbound capacity from Station 85

    • Mobile Bay South I 254/d – May 2010

    • Mobile Bay South II 380/d – May 2011


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Enterprise – Acadian Gas Pipeline

Haynesville Shale Supply

Acadian

1 Bcf/d

  • Haynesville Extension Pipeline Project

  • 270 mile 42”/36” pipeline

  • 1.8 Bcf/d capacity, expandable to 2.1 Bcf/d

  • 1 Bcf/d interconnect with FGT in LA

  • In-service 3rd Qtr 2011



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Gulf LNG Terminal

  • Near Pascagoula, MS

  • Storage Capacity - 6.6 Bcf

  • Firm Sendout - 1.3 Bcf/d

  • Terminal Owners

    • GE, Sonangol &

      El Paso (operator)

  • Terminal Capacity Holders

    • Chevron, BP, Total, Eni

      & Sonangol

  • Target in-service date – Sept. 2011


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FGT Pascagoula Lateral Project

  • Joint project – FGT & Transco

  • Direct connection to the Gulf LNG Terminal

  • Total lateral capacity – 810,000 MMBtu/day

    • FGT 343,000 MMBtu/day

    • Transco 467,000 MMBtu/day

  • Received FERC approval – July 2010

  • Start construction – early 2011

  • Target in-service date – Sept. 2011


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Pascagoula Lateral Project

FGT Mainline

FGT

Compressor Station 11

FGT

Compressor Station 10

FGT (Existing)

FGT / Transco Pascagoula Lateral

(15 miles 26”)

Tie-in to both FGT & Transco Mobile Bay Laterals

FGT/Transco (Existing)

FGT/Gulf South (Existing)

Gulf LNG

Terminal

5.0 miles

Mobile Bay Supply

Gulf LNG Pipeline