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  1. 1Derrick US M&A weekly update

    1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of July 25 – July 29. Deal stats   Announced deals YTD Deals in play* Region Value ($M) Count Value ($B) Count Permian $6,863 57 ~$2 7 Mid-Continent $3,452 28 ~$2 8 Gulf Coast $1,589 29 ~$5 12 Rockies $2,923 41 ~$3 8 Ark-La-Tex $5,490 11 ~$2 6 Eastern $1,774 15 ~$3 8 Gulf of Mexico $7 7 ~$10 12 Alaska $152 3 - - West Coast $2 3 - - Multi Region $581 13 ~$1-2 4 Total $22,832 207 ~$29 65 Source : Ajit Thomas , 1Derrick’s Global M&A Database ( www.1Derrick.com ) *Only includes packages valued >$100M Deal flow Upstream Whiting Petroleum Corp. has divested its Permian assets in the North Ward Estes field for $300 million. The transaction includes 62,900 net acres in Ward Co., and Winkler Co., TX, with production of 8.6 MBOE/d (EOR project is primarily from the Yates formation). Rimrock Resource Operating LLC, backed by Post Oak Energy Capital and Ceja Corp ., has acquired SCOOP assets from Merit Energy in Oklahoma for $150 million. The transaction includes 24,500 net SCOOP acres with production of 2.1 MBOE/d. Halcon Resources files for court approval of prepackaged restructuring plan. Under the restructuring plan, Halcon will eliminate ~$1.8 billion in long-term debt and will reduce annual interest expense by more than $200 million. ArcLight Capital Partners LLC closed a $150 million commitment to back Logos Resources which recently completed the acquisition of San Juan Basin assets consisting of ~129,000 net acres and net production of ~38 MMcf/d. Atlas Resource Partners entered into restructuring support agreement with stakeholders. The agreement will reduce the partnership’s debt by ~$900 million and interest expense by $80 million per year. OFS Solstad Offshore ASA and REM Offshore ASA have entered into a merger agreement. REM Offshore shareholders will receive 0.0696 Solstad Offshore shares for each REM Offshore share. REM operates through three segments namely, Platform Supply Vessel, Offshore Construction Vessel and Construction Subsea Vessel. Midstream Marubeni Corp. and Toho Gas Co Ltd., through a newly formed 50-50 JV company, have entered into an agreement to acquire 22.5% interest in Galp Gas Natural Distribuicao SA (GGND) from Galp Energia SGPS SA for $151.795 million. GGND Operates 12,500 km of gas distribution pipeline system which distributes 1.4 billion cubic meters of gas per annum. Shell Midstream Partners LP and Phillips 66 Partners LP have agreed to acquire 2.62% stake and 2.5% stake in Explorer Pipeline Co., respectively. Explorer Pipeline owns and operates 1,830 mile refined products pipeline system which transports gasoline, diesel, fuel oil and jet fuel from Gulf Coast to Midwest across 70 cities in 16 states.

    Online Articles

    Online Articles

    Wed, 3 Aug 2016

  2. IG’s office recommends EPA begin regulating LDC methane emissions

    The US Environmental Protection Agency, which does not regulate methane emissions from natural gas local distribution companies (LDC), should start working with the US Pipeline & Hazardous Materials Safety Administration to address the problem, EPA’s inspector general’s office said in a July 25 ...

    Online Articles

    Online Articles

    Mon, 28 Jul 2014

  3. ONEOK to build new NGL pipeline and fractionator to serve Gulf Coast market

    Tulsa-based ONEOK Partners LP said May 2 that it will invest between $910 million and $1.2 billion between now and late 2013 in order to construct a new 570-mile, 16-inch diameter NGL pipeline from the Mid-Continent region to the Texas Gulf Coast and build a new 75,000-bpd NGL fractionator at Mont ...

    Online Articles

    Online Articles

    Mon, 2 May 2011

  4. Rentricity starts work on micro-hydro projects in Colorado, Utah

    Rentricity Inc. reports it has begun work on installation of its first micro-hydro in-pipe projects, in Colorado and Utah.

    Online Articles

    Online Articles

    Tue, 2 Feb 2016

  1. Warren Equity Partners and Multifuels establish new midstream company

    Online Articles

    Online Articles

    Wed, 27 Jan 2016

  2. EPA: Higher reported GHG totals from oil, gas in 2014 came from more sites

    Petroleum and natural gas systems remained the second-largest greenhouse gas emitting group as the US Environmental Protection Agency released its 2014 summary of reported emissions on Oct. 6. But it quickly became hard to determine how much of the nearly 3.5% increase in the group’s total ...

    Online Articles

    Online Articles

    Fri, 9 Oct 2015

  3. Dominion, Questar Clear Key Hurdle in Merger Deal

    Dominion Resources (NYSE: D) and Questar Corp. (NYSE: STR) said their proposed merger cleared a key condition needed to complete the deal.

    Online Articles

    Online Articles

    Tue, 23 Feb 2016

  4. Utilities Buying Gas Pipelines Better Watch Out for Batteries

    Efforts by utilities to buy U.S. natural-gas pipelines to make up for lackluster power use could be upended if the shift toward renewables and batteries accelerates.

    Online Articles

    Online Articles

    Thu, 12 Nov 2015

  5. Methane controls only part of complete climate strategy, speakers say

    Reducing oil and gas operations’ methane emissions is an essential, but far from the only, part of a comprehensive climate strategy, speakers at a Center for Strategic and International Studies event agreed. Efforts should be combined with an aggressive program to curb excessive carbon dioxide ...

    Online Articles

    Online Articles

    Mon, 8 Dec 2014

  6. SEMPCheck Services promotes Steffler to COO

    SEMPCheck Services Inc., a provider of web-based safety and environmental compliance management solutions to the energy industry, has promoted James “Jim” Steffler from vice president and chief administrative officer to chief operating officer (CFO).

    Online Articles

    Online Articles

    Wed, 10 Jul 2013

  7. Pipeline safety forum seeks to assure Americans

    US Sec. of Transporation Ray LaHood reveals he is concerned about the rising number of deaths in pipeline explosions across America – which have multiplied from nine in 2008, to 13 in 2009, to 22 in 2010, even as the overall numbers of pipeline accidents have declined.

    Online Articles

    Online Articles

    Mon, 18 Apr 2011

  8. Saudi Aramco: Using lasers to fingerprint oil

    The laser is used to excite the fluorescence spectra of oil within extremely short time frames — two to five nanoseconds. All the fluorescence data is coalesced, and two dimensional diagrams are produced, which serve as oil spectral fingerprints.

    Online Articles

    Online Articles

    Wed, 3 Feb 2010

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