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Released November 30, 2015 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Mining, power and oil & gas production are the key drivers for expected project starts in the Rocky Mountains region in first-quarter 2016. Excluding unconfirmed projects, Industrial Info is tracking nearly $8 billion in projects that are scheduled for kickoffs from January through March.
Click on the image at right for a graph detailing active projects scheduled to kick off in the first quarter of 2016 in the Rocky Mountains region by industry.
The Rocky Mountains region includes Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming. Roughly three fourths of the projects in the region are tied to mining, power and oil & gas production. However, the vagaries of the Mining Industry and the current slump in oil and gas prices could impact the projected starts for many of the projects. More than half of the region's total investment value--about $5.9 billion--is tied to 56 confirmed projects that are in the planning phases, where plenty of factors could increase, decrease or eliminate the expected spending. The remaining 96 projects--worth more than $2 billion--are in the engineering and construction phases.
Mining comes in first place in expected first-quarter kickoffs, with 25 projects valued at $2.7 billion. Located 25 miles west of Jal, New Mexico, IC Potash Corporation's (Toronto, Ontario) $1.02 billion Ochoa underground polyhalite potash mine and mill is now scheduled for completion in first-quarter 2018. Kickoff was pushed back from the second half of 2015, and IC Potash was continuing to seek project financing as of July this year. The 3.7 million-ton-per-year underground room and pillar mine will employ a mechanical vapor-recompression crystallizer to produce 714,000 tons per year of potassium sulfate. For more information, see Industrial Info's project report.
The Power Industry takes second place, with 48 projects valued at $2.4 billion. Grupo Iberdrola SA's (Bilbao, Spain) $600 million El Cabo Windfarm in Moriarity, New Mexico will have a generation capacity of 298 megawatts (MW). Scheduled for completion in third-quarter 2017, the windfarm will include 149 wind turbines, each capable of generating 2 MW. For more information, see Industrial Info's project report.
Oil & gas production comes in at a distant third, with 11 projects valued at $766 million. Located on 500,000 acres in Williston Basin near Sidney, Montana, the 2016 Bakken Shale Oil & Gas Production Field Drilling Program by Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas), through its subsidiary XTO Energy, is valued at $500 million. Exxon Mobil was working on the project with Frontier Drilling (Roosevelt, Utah) and Helmerich & Payne, Inc. (NYSE:HP) (Tulsa, Oklahoma). The project could produce as much 1,000 barrels per day of crude oil and 10 million to 15 million standard cubic feet per day of natural gas. For more information, see Industrial Info's project report.
The remaining seven highest-value projects set to kick off in the Rocky Mountains region in the first quarter are quarter are:
Click on the image at right for a graph detailing active projects scheduled to kick off in the first quarter of 2016 in the Rocky Mountains region by industry.The Rocky Mountains region includes Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming. Roughly three fourths of the projects in the region are tied to mining, power and oil & gas production. However, the vagaries of the Mining Industry and the current slump in oil and gas prices could impact the projected starts for many of the projects. More than half of the region's total investment value--about $5.9 billion--is tied to 56 confirmed projects that are in the planning phases, where plenty of factors could increase, decrease or eliminate the expected spending. The remaining 96 projects--worth more than $2 billion--are in the engineering and construction phases.
Mining comes in first place in expected first-quarter kickoffs, with 25 projects valued at $2.7 billion. Located 25 miles west of Jal, New Mexico, IC Potash Corporation's (Toronto, Ontario) $1.02 billion Ochoa underground polyhalite potash mine and mill is now scheduled for completion in first-quarter 2018. Kickoff was pushed back from the second half of 2015, and IC Potash was continuing to seek project financing as of July this year. The 3.7 million-ton-per-year underground room and pillar mine will employ a mechanical vapor-recompression crystallizer to produce 714,000 tons per year of potassium sulfate. For more information, see Industrial Info's project report.
The Power Industry takes second place, with 48 projects valued at $2.4 billion. Grupo Iberdrola SA's (Bilbao, Spain) $600 million El Cabo Windfarm in Moriarity, New Mexico will have a generation capacity of 298 megawatts (MW). Scheduled for completion in third-quarter 2017, the windfarm will include 149 wind turbines, each capable of generating 2 MW. For more information, see Industrial Info's project report.
Oil & gas production comes in at a distant third, with 11 projects valued at $766 million. Located on 500,000 acres in Williston Basin near Sidney, Montana, the 2016 Bakken Shale Oil & Gas Production Field Drilling Program by Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas), through its subsidiary XTO Energy, is valued at $500 million. Exxon Mobil was working on the project with Frontier Drilling (Roosevelt, Utah) and Helmerich & Payne, Inc. (NYSE:HP) (Tulsa, Oklahoma). The project could produce as much 1,000 barrels per day of crude oil and 10 million to 15 million standard cubic feet per day of natural gas. For more information, see Industrial Info's project report.
The remaining seven highest-value projects set to kick off in the Rocky Mountains region in the first quarter are quarter are:
- $950 million: Nevada Copper Corporation's Pumpkin Hollow Above-Ground Copper Mine and Concentrator at Yerington, Nevada
For more information, see Industrial Info's project report. - $480 million: EverPower Wind Holdings Incorporated's 240-MW Mud Springs Wind Energy Project at Billings, Montana
For more information, see Industrial Info's project report. - $325 million: Barrick Gold Corporation's Turquoise Ridge Underground Gold Mine North Zone Shaft Addition in Golconda, Nevada
For more information, see Industrial Info's project report. - $320 million: Rimrock Midstream's Grand Mesa Crude Oil Pipeline near Lucerne, Colorado
For more information, see Industrial Info's project report. - $300 million: Greenlight Energy Resources Incorporated's 200-MW Brooklyn Ranch Windfarm at Santa Rosa, New Mexico
For more information, see Industrial Info's project report. - $233.1 million: Denver Regional Transportation District's Denver Southeast Corridor Extension
For more information, see Industrial Info's project report. - $200 million: Rimrock Midstream's Platte River Crude Oil Gathering System, located west of Lucerne, Colorado
For more information, see Industrial Info's project report.
