Iroquois Gas Transmission System has commenced a binding open season for its Wright Transfer Compressor (WTC) project which would add up to 15,400 horsepower of transfer compression at Iroquois’ existing interconnection with Tennessee Gas Pipeline’s 200 Line in Wright, New York.

As supplies on Tennessee have increased from Marcellus Shale and Atlantic LNG, Iroquois has received significant interest from shippers in making its Wright interconnect bi-directional.

According to Scott Rupff, Vice President of Marketing, Development and Commercial Operations, “The WTC project would enable us to physically receive gas from Tennessee, further diversifying supply options for our customers, enhancing system reliability and reducing supply cost. The siting of this transfer facility adjacent to our existing compressor station brings added benefit as it will minimize the environmental and community impact and help streamline the permitting process.”

WTC would compress up to 375 MDth/day from Tennessee into Iroquois at Iroquois’ rate zone boundary, thereby enabling WTC shippers to supply both Zone 1 and Zone 2 markets on Iroquois. The project is targeted for service commencing Summer 2012. Any party interested in acquiring firm transportation capacity on the WTC project may express such interest during this open season. Results from the open season will determine the final design and scope of the project.

Bids will be accepted beginning Monday, August 30, 2010 through Friday, October 15, 2010, 5:00 PM EDT.
Iroquois Gas Transmission System, L.P. is the owner of an interstate pipeline extending 416 miles from the US-Canadian border at Waddington, New York, through the state of Connecticut to South Commack, Long Island, NY and Hunts Point, Bronx, NY. Iroquois is a Limited Partnership owned by affiliates of TransCanada PipeLines Limited, Dominion Resources, Inc., National Grid, New Jersey Resources and Energy East Corp.

Source: Iroquois Gas Transmission System

Cubic Energy, Inc. (“Cubic” or the “Company”) today announces a twenty-four (24) hour flow rate for the Thomas 36 No. 1 well post completion clean up of 15,000 Mcfpd at approximately 7,000 lbs. of flowing casing pressure. The Thomas 36 No. 1 well is located in Section 36, Township 16 North – Range 15 West in Caddo Parish, Louisiana. Cubic has a 37% working interest in this well.

Calvin Wallen III, Cubic’s President and Chief Executive Officer, states, “Again, Cubic’s acreage position in the Haynesville shows its prolific nature and the viability of the reservoir. As development of our acreage continues with our Joint Venture partners, we are very excited about the growth and financial improvement we have already made and what the company could accomplish going forward.”

Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company’s oil and gas assets and activity are concentrated primarily in the Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic’s website at: www.cubicenergyinc.com.

via Globe Newswire

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