West Virginia's Basin Energy Group has made its second acquisition since forming last year, this time acquiring Starett's Well Service, which is based in Harrison County, WV, for an undisclosed price. Starett's is a locally-owned company founded in 2002. It has since grown to provide well maintenance, equipment, containment and roustabout services for the Marcellus and Utica shale industries as well as the region's conventional oil and gas industry. Starett's founder will continue to lead day-to-day operations and business development. Basin Energy was founded in mid-2014 with the backing of the Richmond, VA-based private equity firm Turning Basin Capital to identify opportunities in the shale gas market. It first acquired West Virginia-based ProActive Services, which is focused on natural gas gathering systems and maintenance.
West Virginia is set to receive nearly $800,000 in federal aid to help improve the state's response to disasters involving oil and natural gas pipelines and crude-by-rail shipments. West Virginia Sens. Joe Manchin (D) and Shelley Moore Capito (R) announced the grants earlier this month after a review of Bakken Shale crude shipments through the state following a fiery oil train derailment in in February Fayette County (see Shale Daily, Feb. 17). The state is expected to receive $198,828 from the Department of Transportation's Pipeline and Hazardous Materials Safety Administration's (PHMSA) emergency preparedness grant program to develop/revise emergency plans and training activities for incidents involving energy products shipped by rail or road. It would also allow the state to conduct flow studies to determine the frequency and quantity of hazardous materials, such as crude oil, that are being shipped through local communities. The state would also receive two PHMSA grants totaling $584,021 to support its oil and gas pipeline safety programs. "Our state has experienced a crude-by-rail accident firsthand, and we realize the importance of making sure our first responders have the resources they need to prepare for and respond to these kinds of incidents," Manchin said. "The oil train that derailed and exploded in Fayette County last February was not an isolated incident, and we need to do more to protect our citizens from damaging accidents while also ensuring the flow of energy products to those who need them." A 109-car CSX Corp. train carrying Bakken Shale crude oil derailed Feb. 16 on its way to an oil depot in Yorktown, VA (see Shale Daily, Feb. 20). While no one was hurt, 1,000 people were temporarily evacuated.