RCW Energy Services has expanded its water-transfer business serving the Eagle Ford and other shale plays. The company opened an office in Pleasanton, TX, south of San Antonio, to the Eagle Ford and another office in Midland, TX, to serve the Permian Basin. Besides these two plays, RCW serves the Haynesville Shale.
JP Energy Development LP is buying Highway Pipeline Inc., which transports natural gas liquids (NGL) via truck. Highway is based in Marion, TX, and mainly serves clients in the Eagle Ford Shale and Permian Basin. The company had about 50 trucks at the end of last year. JP Energy Development, which is an affiliate of JP Energy Partners LP also has agreed to acquire all of the equity interests in Wildcat Permian Services LLC from Wildcat Midstream Mesquite LLC and Approach Midstream Holdings LLC, an affiliate ofApproach Resources Inc. (see Shale Daily, Sept. 23). Wildcat owns and operates a long-term contracted oil pipeline system consisting of 50 miles of high-pressure, steel pipeline in Crockett and Reagan counties, TX, with throughput capacity of 100,000 b/d, truck terminals and lease automatic custody transfer bay facilities, multiple receipt points and 40,000 bbl of crude oil storage.
Gastar Exploration Ltd. has granted Cubic Energy Inc. another extension, until Sept. 30, for the closing deadline of its acquisition of Gastar’s East Texas properties. Under the terms of the extension agreement, Cubic Energy has paid an additional deposit of $100,000 and has agreed to pay Gastar an additional $250,000 at closing, bringing the total transaction value to $47.25 million before closing adjustments. Cubic views its acquisition as an entry point to the oil-rich Eagle Ford and Woodbine formations (see Shale Daily,Sept. 4; April 23).
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