Tulsa-based Vesta Midstream Partners LLC said it plans to design and construct its Oil City Gathering and Processing System in Carter County, OK, to offer low- and high-pressure gas gathering and processing services to wells in the South Central Oklahoma Oil Province (aka, the SCOOP). "Anchored by a long-term producer contract with a significant acreage dedication, Vesta is well-positioned to provide a broad spectrum of midstream services to producers in the SCOOP and STACK [the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties] areas," Vesta said. "As the company begins construction and works to meet the needs of its producer customers, Vesta will also consider projects in other oil and gas basins as well." Vesta formed recently with private-equity backing from Dallas-based Energy Spectrum Partners VII LP.
Consol Energy Inc. increased its year/year proved reserves by 11% in 2016, booking 6.3 Tcfe. The company said oil, condensate and natural gas liquids accounted for 423 Bcfe, or roughly 7% of the total. The Marcellus and Utica shales represented 99% of the wet reserves. Consol added 720 Bcfe of proved reserves last year through extensions and discoveries, helping it replace 183% of the 394 Bcfe it produced in 2016.