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Oil & Gas Financial Journal

Midland, Tex.-based Stanolind is a privately-held portfolio company of Natural Gas Partners. It operates crude oil and natural gas producing properties in the Permian Basin, primarily in Ward, Crane, and Pecos counties, Texas.

JayHawk acquires pipeline, adjacent acreage

JayHawk Energy Inc. has begun its drilling program on the Uniontown project and closing an agreement with Galaxy Energy Inc., a private company.

The company plans to drill a maximum of four wells per month on the Uniontown acreage and tie-in all productive candidates. It anticipates production of roughly 40 Mcf per well, and with increased gas prices, aims to be cash-flow positive on this project by December, with up to 36 new wells, and up to 70 tied-in.

The acquisition completes the purchase of assets in the Crawford and Bourbon counties of Kansas, obtaining a 100% working interest in a 16-mile gas pipeline as well as the gas production within 6,500 acres of contiguous land adjacent to the pipeline, for a total of $2 million. No debt has been assumed from the acquisition,

Champions Pipe & Supply, Mitsui Tubular Products merge

Champions Pipe & Supply Inc. and Mitsui Tubular Products LLC will merge. The combined company will be known as Champions Pipe & Supply Inc.

Champions is one of the major OCTG distributors in the US market with access to domestic mills. MTP is a distributor of 13 Chromium OCTG, drill pipe, line pipe, specialty tube, and plate, with access to mills in international markets, including Japan.

The new combined company will generate approximately $600 million in annual sales, and will be staffed by 40 employees.

Regency Energy Partners names new president and CEO

Regency Energy Partners LP has appointed midstream industry veteran Byron R. Kelley as chairman of the board, president, and CEO effective April 1.

Kelley – who starts upon the planned retirement of Regency's current chairman, president and CEO, James W. Hunt – brings more than 35 years of experience in operational and commercial roles with gas gathering, intrastate pipeline and interstate pipeline companies in the southeastern US.

Kelley joins Regency from CenterPoint Energy, where he served as senior vice president and group president of pipeline and field services.

He holds a bachelor's degree from Auburn University.

Regency Energy Partners LP is a growth-oriented, midstream energy partnership engaged in the gathering, contract compression, processing, marketing and transporting of natural gas and natural gas liquids.

Eagle Rock starts project to consolidate, enhance ops

Eagle Rock Energy Partners LP has started a two-phase midstream project which will consolidate volumes and operations in the partnership's West Panhandle system and enhance the partnership's capacity and recovery efficiencies in the East Panhandle system.

The total project, which is expected to be completed in the first quarter of 2009 at a cost of roughly $25 million, involves diverting West Panhandle volumes from the Partnership's Stinnett Plant, located in Moore County, Tex. to its Cargray Plant, located in Carson County, Tex. and subsequently relocating the Stinnett Plant's high-efficiency cryogenic technology to the East Panhandle Arrington system, located in Hemphill County, Tex.