Post Tagged with: "Delaware"

Source: Citgo

U.S. Court Confirms Citgo Board Appointed by Venezuela’s Opposition

From The Houston Chronicle


In a victory for Venezuela’s opposition government, a U.S. judge confirmed Citgo Petroleum’s board of directors appointed by Juan Guaido, squashing socialist leader Nicolas Maduro’s efforts to regain control over the Houston oil refiner.

On Wednesday …

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

Source: Crestwood Equity Partners

Crestwood Bolsters its Midstream Assets in the Bakken

By Tyler Losier, Energy Reporter, Oil & Gas 360

Commercial operations begin at the Bear Den II processing plant
Crestwood Equity Partners LP (stock ticker: CEQP), a Houston-based master limited partnership, has begun commercial operations at its Bear Den II

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360

Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners
Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant

Source: Salt Creek Midstream

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360

SCM Crude LLC to solicit binding commitments for interstate gathering and transportation
SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

By Tyler Losier, Energy Reporter, Oil & Gas 360

Alliance Resource Partners Acquires $145 million worth of Permian mineral interests from Wing Resources
Alliance Resource Partners L.P. (stock ticker: ARLP), a diversified natural resource company based in Tulsa, Oklahoma, has

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Source: Solaris Water Midstream

Concho Resources and Solaris Water Form JV in the Delaware Basin

By Tyler Losier, Energy Reporter, Oil & Gas 360

Concho Resources and Solaris Water Midstream team up for produced water management in the northern Delaware Basin
Concho Resources (stock ticker: CXO), a Permian-focused unconventional shale producer, has formed a strategic

The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

Source: Glendale Energy Ventures

New Partnership to Acquire Upstream Assets

By Tyler Losier, Energy Reporter, Oil & Gas 360

Initial capital commitments of $500 million
TPG Sixth Street Partners, a global finance and investment business founded in 2009, announced a new partnership today with the Houston-based private oil and gas

Source: Federal Reserve Bank of Dallas

Dallas Fed: Oil Companies Need $50 per Barrel to Break Even

Average breakeven fell 4% over the past year
With the price of oil in a pretty constant state of volatility as of late, the breakeven point for crude is an important number to keep in mind.

According to the Federal

Delaware Utility Eyes Adding LNG Storage Facility to Meet Customer Gas Demand

Delaware Utility Eyes Adding LNG Storage Facility to Meet Customer Gas Demand

From Washington Times/AP

DOVER, Del. (AP) – Delmarva Power is asking state utility regulators for permission to build a liquefied natural gas storage facility in northern Delaware.

According to a docket filing last week, the facility would be built on …

February 27, 2019 - 10:41 am Closing Bell Story‎, Energy News, LNG, Power Generation
Williams, Brazos Midstream Form Delaware Basin JV

Williams, Brazos Midstream Form Delaware Basin JV

Williams Companies Inc. (stock ticker: WMB) will enter into a joint venture in the Delaware Basin with privately-held Texas-based midstream services company Brazos Midstream.

Brazos Midstream will have an 85% majority position in the joint venture. Its current assets include:

November 16, 2018 - 2:54 pm Closing Bell Story‎, Midstream
Devon Energy: Q3 was an ‘Inflection Point’ in the STACK

Devon Energy: Q3 was an ‘Inflection Point’ in the STACK

Devon sees STACK as its second-highest funded asset in 2019
PRB is the "best emerging growth opportunity in North America"
Oklahoma-based Devon Energy Corporation (ticker: DVN) reported its Q3 2018 results Tuesday. On the call, Devon President and CEO Dave

EOG on a Roll: 9500 Locations, 40 Rigs, 20 Frac Spreads, 720 Planned Completions for 2018

EOG on a Roll: 9500 Locations, 40 Rigs, 20 Frac Spreads, 720 Planned Completions for 2018

EOG Resources (ticker: EOG) reported its Q3 results Thursday, and held its earning call today.

Highlights from the Q3 Results include:

  • Raised 2018 Capex Guidance Range to $5.8-$6.0 billion.
  • Third quarter 2018 net income of $1.2 billion, or $2.05 per
Lilis Converts 2nd Lien Term Loan to Equity

Lilis Converts 2nd Lien Term Loan to Equity

Houston-based Lilis Energy (ticker: LLEX), an independent oil and gas E&P company in the Delaware Basin (west Texas and southwestern New Mexico), announced yesterday it closed a new five-year senior credit revolving loan facility.

The maximum borrowing amount is $500

Source: Brazos Midstream

Brazos Midstream Holdings Sold for $1.75 Billion

Fort Worth-based Brazos Midstream Holdings, LLC and its financial sponsor, Old Ironsides Energy, have entered into a definitive agreement to sell its Delaware Basin subsidiary companies to North Haven Infrastructure Partners II (NHIP II) and related funds for approximately $1.75 …

Closed and Closed: WildHorse, WPX Divest Assets

Closed and Closed: WildHorse, WPX Divest Assets

WPX Energy (ticker: WPX) has closed the San Juan Basin oil play sale to Enduring Resources IV, LLC for $700 million. A significant portion of the proceeds are slated for debt reduction, WPX said, and the company now believes it …

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

WPX Energy (ticker: WPX) reported Q4 2017 oil volumes of 75,200 BOPD, which was 68% higher than a year ago, and 16% higher than Q3 2017.

WPX’s first two North Sunday Island wells in the Williston Basin have 120-day cumulative …

Devon Energy Accelerates Production to 195 MBOEPD

Devon Energy Accelerates Production to 195 MBOEPD

Devon’s early ’18 production from Delaware, STACK up 20% over 2017 average

Devon Energy Corp. (ticker: DVN) accelerated production growth in early 2018. The company’s Delaware Basin and STACK assets are producing approximately 195,000 BOEPD. The combined daily production rates …

Energen Approaches 100 MBOEPD

Energen Approaches 100 MBOEPD

Energen Corporation (ticker: EGN) released financial and operating results for the fourth quarter and calendar year ended December 31, 2017.

“Over the last five years, the board and management have strategically divested non-core assets and transformed Energen into a low-cost …

Liberty Oilfield Services Increases Flexibility with Debt Deal

Liberty Oilfield Services Increases Flexibility with Debt Deal

Liberty Oilfield Services announces closing of $175 million term loan and $250 million revolving credit facility

Denver-based oilfield services company Liberty Oilfield Services announced Tuesday that the company closed a debt deal. The company entered two new debt facilities consisting …

Apache: Building Up the Delaware

Apache: Building Up the Delaware

Apache Corp. (ticker: APA) announced its second quarter results and operational updates August 3rd, and reported an average production of 388,000 BOEPD. The company earned $572 million during Q2.

Apache’s North American production totaled 244,000 BOEPD—where it averaged …

EnerCom Conference Presenters will Outline Permian Economics

EnerCom Conference Presenters will Outline Permian Economics

The Permian Basin, the gift that keeps on giving—from an oil and gas standpoint—has spent the last few years as the site of numerous producers’ core acreage. In many instances, lower oil prices and the relative volatility of the oil …

Carrizo Oil & Gas Builds the Eagle Ford, Pursues New Potential in Delaware Acquisition

Carrizo Oil & Gas Builds the Eagle Ford, Pursues New Potential in Delaware Acquisition

Carrizo Oil & Gas (ticker: CRZO) sports over 160,000 net acres across the Eagle Ford, Delaware basin, and Niobrara—with an inventory of over 2,000 net horizontal drilling locations. The company also has non-core assets in the Marcellus and Utica formations.…

WPX Energy Inc.: Delaware Focus Drives Growth

WPX Energy Inc.: Delaware Focus Drives Growth

Between 2015 and Q1, 2017, WPX Energy, Inc. (ticker: WPX) has executed a textbook ‘about-face’ on its production, altering its producing ratios from 67% natural gas, 33% liquid to 64% liquid and 36% natural gas production.

The company’s total production …

Jagged Peak Energy: New Permian Pure Play Targeting 1,200 Drilling Locations

Jagged Peak Energy: New Permian Pure Play Targeting 1,200 Drilling Locations

Permian pure-play Jagged Peak Energy (ticker: JAG) holds approximately 70,000 net acres in the prolific basin. Within its Permian acreage, Jagged Peak has identified 1,265 potential drilling locations and—as of September, 2016—estimates its proved reserves value at 32.7 MMBOE.

The …

Lilis Energy: Seeking Opportunity in Pure Play Delaware

Lilis Energy: Seeking Opportunity in Pure Play Delaware

Lilis Energy (ticker: LLEX) is exclusively involved in exploration and development in the Permian basin. As of June, 2017, the company currently holds over 10,000 net acres in the Delaware basin and estimates that its acreage holds over 500 potential …

Rosehill Resources: Entrance into the Core Delaware

Rosehill Resources: Entrance into the Core Delaware

Rosehill Resources (ticker: ROSE) is a Delaware basin-focused oil and gas company with approximately 5,000 net acres in the basin. Rosehill was formed in 2017 following the combination of Tema Oil and Gas Company and KLR Energy—which operated as a …

PDC Energy Appoints David Honeyfield CFO

PDC Energy Appoints David Honeyfield CFO

PDC Energy, Inc. (ticker: PDCE) has appointed David Honeyfield its chief financial officer effective December 19, 2016.

David Honeyfield was previously CFO for Jonah Energy in Denver.  His previous experience includes six years at Intrepid Potash, where he served as …