Applied LNG closed a $22.5 million deal with Texas Capital Bank to finance the construction of a liquefier to process liquefied natural gas (LNG) at their LNG plant in Midlothian, TX, the San Fernando Valley Business Journal stated on February 2.
The liquefier is the first of six the company plans to construct on the 31-acre facility just south of oil and natural gas-rich Dallas-Fort Worth. The liquefier, which is expected to be completed mid-year, will increase the company’s LNG production. It is also expected to provide the South, the Midwest, and the Eastern seaboards with their needed LNG supply.
Applied LNG Chief Executive Cem Hacioglu said in a statement that the company’s partnership with Texas Capital Bank is a testament to the company’s stability and its growth potential in the oil and natural gas sector.
The continuous investment in LNG exploration and drilling proves that the oil and natural gas boom in Texas is far from over. If you want to take part in this upward economic trend, sell your mineral rights today by consulting with our mineral rights broker at The Mineral Auction. Call us at (512) 698-2802 today.
In 2011, the U.S. Energy Information Administration (EIA) stated that the country produced 23 trillion cubic feet of natural gas, which accounts for 95% of the nation’s overall natural gas consumption. In 2040, the EIA hopes that the U.S. produces 33.1 million cu. ft. of natural gas, a 44% increase in the country’s overall natural gas production.
The projected increase in the country’s natural gas production is primarily caused by booming shale gas production. Shale is a type of sedimentary rock rich in natural gas and petroleum. Furthermore, this rock formation is very common in many parts of the country, including Texas.
At The Mineral Auction, we assist Texas residents in making the most out of this thriving natural gas industry by helping them sell their mineral rights to prospective buyers for the best possible value. You may reach us anytime by calling (512) 698-2802 if you want to learn more about our services.
Congressman Ted Poe recently stated that the natural gas boom is benefiting the local economy in Houston, and says Texas can potentially be the “Saudi Arabia of natural gas,” according to an online report released Monday, April 7.
In a speech delivered during the Houston Northwest Chamber of Commerce and Economic forum, Poe said Texas has more than liquefied natural gas (LNG) than it can use, and added that the state’s goal should be “to export the rest.” Poe also dubbed the Port of Houston, which is currently undergoing a $150 million-worth of dredging to hike docking capacity, as a potential LNG terminal site.
Texans are indeed in a very beneficial position to get the most out of the U.S. LNG boom. If you too are planning to take advantage of this industry, The Mineral Auction has the resources and the experience to help you sell your mineral rights at the best possible price. You may reach us anytime at (512) 698-2802.
