Plains All American Pipeline LP is constructing a 95-mile extension of its Oklahoma crude oil pipeline to service increasing production from the Granite Wash, Hogshooter and Cleveland Sands producing areas in western Oklahoma and the Texas panhandle. The new Western Oklahoma pipeline will provide up to 75,000 b/d of takeaway capacity from Reydon, OK, in Roger Mills County to PAA’s Orion station in Major County, OK. At the Orion station, crude oil will flow on PAA’s existing pipeline system to the PAA terminal in Cushing, OK. The new Western Oklahoma pipeline is supported by long-term producer commitments and is expected to be in service by the end of the first quarter of 2014, the company said.
Texas Vanguard Oil Co. hired E-Spectrum Advisors LLC to market operated, conventional oil and gas properties in South Texas and the Permian Basin. The package includes ownership in about 250 producing wells with a weighted average 93% working interest (about 76% net revenue interest) across 13,274 gross (12,243 net) acres (100% held by production). Net production is 210 boe/d (55% oil) with an annual decline of 5%. The company has historically received a 49% premium to Nymex Henry Hub gas, E-Spectrum said. A majority of the properties are associated with 7,539 net contiguous acres and 218 producing wells in the Serbin (Taylor Sand) Field in Lee and Bastrop counties. Upside includes more than 130 vertical infill locations along with 16 horizontal locations, all targeting the Taylor Sand formation. The properties also include 3,551 net acres and 19 producing wells in the Austin Chalk and Wilcox trends in Fayette, Burleson, Lee, Bastrop, Grimes and Wilson counties. The Permian properties include approximately 600 net acres and 12 producing wells in Martin and Crane counties. These properties are producing primarily from the Spraberry and Grayburg formations. Bids are due June 19.
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