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Industry Briefs

A train derailment near the town of Parkers Prairie, MN, Wednesday morning spilled 20,000-30,000 gallons of crude oil into a field, but frozen, snow-covered ground was "a saving grace" that should keep environmental damage to a minimum, a Minnesota Pollution Control Agency (MPCA) spokesman told NGI's Shale Daily. Fourteen of the Canadian Pacific Railroad train's 94 cars derailed and oil from three of them was leaked, the spokesman said. "They're going to be able to recover most, if not all" of the oil, according to MPCA spokesman Dan Olson. No injuries were reported.

Fort Worth, TX-based Titan River Energy LLC, which is focused on Texas unconventional resources, has received a $100 million capital commitment from Ridgemont Equity Partners and Post Oak Energy Capital. Newly formed Titan initially plans to focus on drilling and developing oil-prone shale plays in Texas. Management includes CEO Chip Simmons; COO Lee Matthews; Don Pearce, executive vice president (EVP) of drilling; Kent Bowker, EVP of geology; and Brennan Potts, vice president of land and business development. The management team has experience in the geologic assessment, drilling and completion of more than 400 horizontal wells in several major shale plays, with a recent focus on the Eagle Ford Shale, the company said. "We are anxious to pursue our business model of converting acreage into reserves via drilling joint ventures, farm-ins and organic leasing opportunities," said Simmons.

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