Bobcat Storage

Bobcat Announces New Additions To Management Team

noemail@bobcatstorage.com — Fri, 07 Mar 2008 16:30:00 GMT

HOUSTON, Texas (March 6, 2008) – With the goal of moving its high-deliverability natural gas storage facility forward to the operations phase, Bobcat Gas Storage (Bobcat) recently added David H. Saindon as Chief Financial Officer and Dr. Masoud J. Kasraian as Senior Vice President of Marketing and Asset Optimization to its management team. These two additions to the Bobcat team will help position Bobcat to smoothly transfer from facility construction to facility operations and will allow Bobcat to actively pursue its short term storage and hub service business.

David was a summa cum laude graduate of Texas Tech University with a degree in accounting and finance. He has over 10 years of experience in the energy including his most recent assignment as Vice President of Finance of Lodi Gas Storage, LLC. At Bobcat, David will be responsible for all financial aspects of Bobcat’s business including accounting and finance.

Masoud obtained a Ph.D. in electrical engineering and a MBA in finance and investment from the University of Wisconsin-Madison. He has 9 years of experience in the energy industry. His most recent job was at Lodi Gas Storage, LLC where he served as Senior Vice President of Marketing. At Bobcat, Masoud will be responsible for Bobcat’s short-term hub services and interruptible storage services portfolio.

Bobcat is being developed by Port Barre Investments, LLC, which is owned by members of management, Haddington Energy Partners III LP, a private equity fund managed by Haddington Ventures, LLC and GE Energy Financial Services, the energy investing unit of GE (GE: NYSE).

Bobcat Gas Storage Announces Open Season

noemail@bobcatstorage.com — Tue, 09 Oct 2007 14:00:00 GMT

Bobcat Gas Storage (Bobcat) announced today the start of an open season for unratcheted, firm storage service in both Caverns 1 and 2 at its natural gas storage facility currently under construction in St. Landry Parish, Louisiana. Cavern 1 capacity will be available in October 2008 with Cavern 2 in-service expected in August 2009. On September 26, 2007, Bobcat filed at Federal Energy Regulatory Commission (FERC) to increase the working gas capacity of both Cavern 1 and Cavern 2 to 7.8 Bcf each. This increase in capacity is achieved by reclassifying gas previously designated as base gas to working gas. This increase in working gas will not lengthen the time for construction on Bobcat 1 or Bobcat 2. As a result of this increase in working gas, Bobcat is offering additional capacity in Cavern 1 available for contracting. Bobcat is making significant progress on the construction of its facility. Both Cavern 1 and Cavern 2 have been leaching at Bobcat's FERC approved combined...

Bobcat Seeks to Expand Capacity of its First Two Caverns and Plans 3Q' 07 Open Season

noemail@bobcatstorage.com — Mon, 30 Jul 2007 13:00:00 GMT

HOUSTON, Texas (July 25, 2007) Bobcat Gas Storage (Bobcat) announced today that it will file with FERC for authorization to expand its first two caverns from 6.75 Bcf to 7.8 Bcf working gas capacity each. Bobcat has completed the drilling of its first storage cavern well and will immediately commence leaching operations with an expected in service date of October 2008.

Bobcat currently has FERC authorization to construct two natural gas storage caverns with a working gas capacity of approximately 6.75 Bcf per cavern. Since the original authorization, additional testing has revealed that the Bobcat salt is capable of supporting a larger amount of working gas per cubic foot than originally anticipated, permitting greater operational efficiency and resulting in a substantially higher level of working gas capacity than previously planned.

Bobcat also announced that it plans to hold an open season in the 3rd quarter of 2007 for the anticipated 7.8 Bcf of working gas capacity from its second storage cavern, now planned to be in service several months ahead of schedule in June 2009. The drilling of the second storage cavern well is nearly complete, with the leaching of the second cavern well planned to commence by the end of August 2007.

Bobcat has long-term commitments from a variety of high-quality customers for substantially all of the certificated storage capacity of the first cavern. Bobcat will offer customers service under its FERC-approved tariff at market-based rates. In addition to the storage facility, Bobcat will operate a header system offering customers premier interconnections with five interstate pipelines, including Texas Eastern Transmission, L.P., Transcontinental Gas Pipeline Company, Florida Gas Transmission, Gulf South Pipeline and ANR Pipeline, all as part of its initial project. Bobcat is currently evaluating additional interconnects that will provide its customers with more flexibility in sourcing supply and more diverse market reach including connections to LNG supply sources.

Prospective customers seeking additional project information or wanting to discuss storage opportunities at Bobcat are asked to contact Jamie Craddock at (713) 800-3510. Additional information about the project, construction updates and information on the upcoming open season are available at www.bobcatstorage.com.

GE Unit Makes First Investment In Natural Gas Storage, Expanding Its Mid-Stream Assets

noemail@bobcatstorage.com — Mon, 26 Feb 2007 16:00:00 GMT

PORT BARRE, La. and HOUSTON, Feb. 21, 2007 – GE Energy Financial Services, a unit of General Electric (NYSE: GE), is making its first investment in natural gas storage, acquiring a preferred equity interest in an underground salt dome storage project in Louisiana for $65 million from Haddington Energy Partners III LP, a Houston-based, energyfocused private equity fund. The investment, which will also help cover the project’s capital expenditures, enables GE Energy Financial Services to expand in midstream energy, where it already co-owns pipelines, retail distribution and gas processing assets. The Bobcat gas storage project -- which the fund’s sponsor, Haddington Ventures, LLC, sourced and developed -- is strategically located in St. Landry Parish, Louisiana, 45 miles from Henry Hub, the clearing point for NYMEX natural gas futures contracts and the most liquid trading point in the natural gas over-the-counter and cash markets. GE Energy Financial Services will have...

Bobcat Gas Storage Announces Open Season

noemail@bobcatstorage.com — Mon, 08 Jan 2007 20:00:00 GMT

HOUSTON, Texas (January 8, 2007) – Bobcat Gas Storage (Bobcat) announced today the start of an open season for 1 Bcf of up to 12-cycle, unratcheted storage service at its proposed natural gas storage facility in St. Landry Parish, Louisiana.

Bobcat has received final FERC approval, has ordered all long lead time materials and has started construction of its Port Barre gas storage facility. Based on its construction schedule, Bobcat is targeting a September 2008 in-service date. The Bobcat Project will offer customers premiere interconnections with five interstate pipelines including Texas Eastern Transmission, L.P., Transcontinental Gas Pipeline Corporation, Florida Gas Transmission Company, Gulf South Pipeline Company and ANR Pipeline Company as part of its initial project.

Bobcat is conducting an open season for 1 Bcf of storage capacity with associated injection and withdrawal capabilities of up to 50,000 Dth/d and 100,000 Dth/d, respectively. The open season will extend from January 9, 2007 to January 26, 2007. Any person interested in contracting for Bobcat storage service must submit a bid on or before the January 26, 2007 deadline.

Bobcat will offer customers firm storage service and market based rates under its FERC-approved tariff. Prospective customers seeking additional open season information or wanting to discuss storage opportunities at Bobcat are asked to contact Jamie Craddock at (713) 800-3510. Additional information about the project, construction updates and the open season 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 members of management and Haddington Energy Partners III LP, a private equity fund managed by Haddington Ventures, LLC. 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 midstream activities. Additional information about Haddington Ventures is available at www.hvllc.com.

Bobcat Gas Storage Receives Approval to Start Construction

noemail@bobcatstorage.com — Tue, 12 Dec 2006 15:00:00 GMT

HOUSTON, Texas (November 30, 2006) – On November 22, 2006, Bobcat received the necessary approval from the Federal Energy Regulatory Commission (FERC) to commence the construction of the key components of its gas storage facility, including the leaching plant, storage cavern wells, freshwater wells, brine disposal wells and the compressor station. This approval allows Bobcat to start construction on these long lead time facilities immediately, keeping the project ahead of its anticipated schedule.

Once completed in 2008, Bobcat is expected to be an extremely important balancing facility supporting the commercial operations of power generators, pipelines, utilities, energy merchants and liquefied natural gas (LNG) terminals in the Gulf Coast area. Bobcat’s interconnections with five interstate pipelines, including Texas Eastern Transmission, L.P., Transcontinental Gas Pipeline Company, Florida Gas Transmission, Gulf South Pipeline and ANR Pipeline, as well as with the Cypress Louisiana intrastate pipeline system, will offer customers diverse supply and market access.

The Bobcat facility will offer firm storage services as well as interruptible hub services from its six pipeline connections. Prospective customers seeking additional project information or wanting to discuss storage opportunities at Bobcat are asked to contact Jamie Craddock at (713) 800-3510. Additional information about the project is available at www.bobcatstorage.com.

Storage Facility to Impact Economy - KATC Channel 3 news story

noemail@bobcatstorage.com — Fri, 27 Jan 2006 20:00:00 GMT

From a news piece by KATC Channel 3:

"Bobcat storage is actually developing an underground salt cavern that will be used to store natural gas," explains Jamie Craddock, VP of Marketing and Public Relations for Bobcat Gas Storage.

Not only is the storage unit a benefit for gas companies but this company will bring a boost to the local economy. Bobcat has committed to hiring locals for their permanent and construction jobs.

"If people are qualified, we want to hire local folks. During construction, which will last 12 to 18 months, we're looking at hiring 100 people employed during the construction process."

Not only are new jobs a plus for the economy but the Texas storage builder is already in business with 18 Louisiana companies.

The underground salt storage facility offers other benefits as well. With a well managed portfolio, it can help utility companies even out prices over time.

"It's not a cure all," Craddock says. "It's not going to make prices lower tomorrow but used correctly it can be a great tool to get to that point."

Bobcat Gas Storage Company plans to have the Port Barre facility up and running by late 2007.

For more information including a video broadcast on this story visit the KATC Channel 3 News Site.