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  1. PDC Energy enters Delaware basin in $1.5-billion deal

    PDC Energy Inc. , Denver, has agreed to acquire two privately held units managed by energy-focused privately equity firm Kimmeridge Energy Management Co. LLC , including 57,000 net acres in Reeves and Culberson counties in Texas, with average working interest of 93%, for $1.5 billion. Current net production from the acreage is 7,000 boe/d from 21 horizontal wells, with two additional wells in the completion and flowback phase. Of the total output, 42% is oil and 65% is liquids. The total net acreage, of which 41,000 acres are in Reeves County and 16,000 acres are in Culberson County, features more than 700 gross estimated horizontal drilling locations targeting the Wolfcamp A, B, and C zones with upside potential through downspacing and additional intervals, the firm says. Based on a combined total of 4-12 wells/section, preliminary estimated net reserve potential is 530 million boe/d. Expected to close in the fourth quarter, the deal includes scalable owned and operated midstream infrastructure, including gas gathering systems , pipelines, right-of-ways, and five salt water disposal wells. During the remainder of the year, PDC plans to spud nine horizontal wells, seven of which have 1.5 or 2-mile laterals, and expand certain midstream infrastructure for expected total capital outlay of $55-65 million. The firm also is finishing completion operations on two horizontal wells and plans to operate two drilling rigs by yearend. “Adding this Delaware position to our Core Wattenberg acreage gives us more than 1 billion net boe of liquid-rich reserve potential in two of the top-tier US onshore basins,” commented Lance Lauck, executive vice-president, corporate development and strategy. PDC in June agreed to a Wattenberg acreage swap with Noble Energy Inc. as the firms sought to consolidate their positions in the Colorado natural gas and condensate field ( OGJ Online, June 16, 2016 ).

    Online Articles

    Online Articles

    Wed, 24 Aug 2016

  2. Outrigger Energy appoints Hatfield as VP, West Texas

    Outrigger Energy has hired Rodney D. Hatfield as vice president, West Texas, to lead the company’s business development efforts in the Permian Basin.

    Online Articles

    Online Articles

    Fri, 4 Sep 2015

  3. GIP II and Hess form midstream Bakken JV

    Global Infrastructure Partners (GIP) says that its second fund, Global Infrastructure Partners II, and affiliated funds, have agreed to enter into a strategic joint venture with Hess Corp. through the acquisition of a 50% interest in Hess Infrastructure Partners, the owner of Hess’s midstream crude ...

    Online Articles

    Online Articles

    Mon, 15 Jun 2015

  4. Hess to sell interest in Bakken midstream assets and form new JV

    Hess Corp. has agreed to sell a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners.

    Online Articles

    Online Articles

    Thu, 11 Jun 2015

  1. Rice files registration statement for IPO of Rice Midstream Partners

    Online Articles

    Online Articles

    Fri, 7 Nov 2014

  2. Energy M&A under the Hart-Scot- Rodino Act

    At a time when there is significant M&A activity in the energy industry, it is critical for energy companies to understand how the premerger notification filing requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976,  and the regulations promulgated under the Act,  may apply to ...

    Online Articles

    Online Articles

    Mon, 11 Nov 2013

  3. UPDATE: FBI arrests suspect in Oklahoma pipeline attempted bombing

    The FBI has arrested Oklahoma resident Daniel Herriman for planting a bomb on a natural gas pipeline in Okfuskee County.

    Online Articles

    Online Articles

    Mon, 15 Aug 2011

  4. Oxy joins ADNOC in developing massive Shah natural gas field in the UAE

    The Shah gas project involves development of high-sulfur content reservoirs within the Shah field onshore the UAE. The project will involve development of several gas gathering systems , construction of new gas and liquid pipelines and processing trains to process 1 billion cubic feet of high-sulfur ...

    Online Articles

    Online Articles

    Thu, 20 Jan 2011

  5. El Paso plans to spin off E&P operations

    El Paso Corp. plans to split into two publicly traded companies, one encompassing its pipeline and midstream businesses and the other its exploration and production operations.

    Online Articles

    Online Articles

    Wed, 25 May 2011

  6. M&As abound in midstream sector

    Dr. Gary M.

    Magazine Articles

    Magazine Articles

    Tue, 1 Feb 2005

  7. Pilot programs expand at Clearmont coalbed methane project

    U.S. Energy Corp. and Crested Corp. announced that their Rocky Mountain Gas Inc. subsidiary is expanding both the Roland and the Anderson coal pilot programs on its Clearmont, Wyoming properties.

    Online Articles

    Online Articles

    Fri, 12 Apr 2002