Energy Roundup: Tenaska Closes $2.4b Fund, Chevron Starts Frade, Marathon in GoM, and More

Tenaska closes its TRF II fund above $2.4 billion — Tenaska Capital Management recently closed its TPF II fund above $2.4 billion. The fund was started earlier this year with an original target of just $1.5 billion. The fund will be used for traditional and renewable power generation, natural gas storage, pipeline and other gas midstream assets, natural gas and power infrastructure goods and services. [Source: AltAssets]

Chevron commences new project offshore Brazil – Chevron, which has invested an unprecedented $3 billion in a Brazilian deep water offshore drilling project over the past seven years, will begin drilling soon. Chevron believes it can extract about 270 million barrels (about 3 days worth of oil) out of the Frade (”Frah-day”) region over the next 18 years. Did someone say “peak oil?” [Source: Rigzone]

Marathon backs two new Gulf of Mexico projects — Marathon’s Board sanctioned two Gulf of Mexico development projects, Droshky and Ozona, together estimated to cost $1.6 billion. Marathon believes it can extract about 29 million barrels of oil from the areas. [Source: Rigzone]

U.S. gets even windier in third quarter — In the third quarter of 2008, 1,389 megawatts worth of wind turbines were installed in the U.S., bringing the 2008 total to 4,204 megawatts, according to the American Wind Energy Association’s third quarter market report. By year’s end, the report says, some 7,500 megawatts worth of turbines should be in place. That should bring U.S. wind capacity to about 24,300 megawatts. That leaves only about a zillion more megawatts to go. [Source: Renewable Energy Focus]