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Tokyo Gas Raising Stake in Haynesville-Focused Castleton Resources

Tokyo Gas Raising Stake in Haynesville-Focused Castleton Resources

Tokyo Gas Co. Ltd. said Wednesday it is increasing its stake in Haynesville Shale producer Castleton Resources LLC to expand its portfolio in North America.  Through a subsidiary, Tokyo Gas agreed to boost its ownership interest to 70% from 46% for an undisclosed amount. Castleton, a natural gas-focused operator with assets in East Texas that…

July 29, 2020

Osaka Gas Enhancing Gulf Coast LNG Prospects with Takeover of Sabine Oil

Osaka Gas Co. Ltd., which has stakes in a Gulf Coast natural gas export project, on Monday agreed to buy Haynesville Shale-focused Sabine Oil & Gas Corp. for $610 million in what is said to be the first Lower 48 unconventional acquisition by a Japanese company.

July 29, 2019
Red Wolf Snatches Producing Acreage in Oklahoma STACK, SCOOP, Merge

Red Wolf Snatches Producing Acreage in Oklahoma STACK, SCOOP, Merge

Newly formed Red Wolf Natural Resources LLC has acquired 56,000 net acres and associated production in Oklahoma’s myriad reservoirs that include the Anadarko Basin.

May 20, 2019

ARB Midstream Acquires, Rebrands Red River Crude Oil Gathering System

Denver-based ARB Midstream LLC said it has partnered with Vitol US Holding Co. to acquire the crude oil Red River Gathering System, which serves the Midcontinent and the Barnett Shale, and has rebranded the acquisition as the Texoma Crude Oil Pipeline System.

December 5, 2018

Par Pacific Expanding Downstream Footprint in Pacific Northwest

Houston-based Par Pacific Holdings Inc. clinched a $358 million deal on Tuesday to connect assets in the Pacific Northwest and Rockies to an integrated downstream network sourced in part with Western Canada and Bakken Shale crude oil.

November 28, 2018

EnerJex Adds DJ Basin to Texas, Kansas Holdings

EnerJex Resources Inc. has agreed to acquire privately held Black Raven Energy Inc., a Denver-based company with more than 75,000 net acres leased in the Denver-Julesburg (DJ) Basin.

July 31, 2013

Summit Midstream to Expand Bakken Gathering System

Summit Midstream Partners LLC plans to significantly expand its crude oil and water gathering system in North Dakota’s Williams and Divide counties in the Bakken Shale, the Dallas-based partnership said.

June 27, 2013

Industry Briefs

Western Gas Partners LP has exercised an option to acquire a 25% interest in a joint venture with Enterprise Products Partners LP to own two fractionation trains (Trains 7 and 8) being constructed in Mont Belvieu, TX. The trains, scheduled to begin service later this year, would be operated by Enterprise. Western, formed by Anadarko Petroleum Corp., also plans to begin constructing a second cryogenic processing train at its Lancaster plant in the Denver-Julesburg Basin this year. Lancaster II is expected to have a capacity of 300 MMcf/d with throughput of 200 MMcf/d guaranteed by an Anadarko subsidiary. The partnership anticipates the project will cost $165 million, with 50% spent in 2013 and the remainder spent by early 2015. The new train is expected to begin operating in early 2015.

June 13, 2013

People

Chesapeake Energy Corp. has altered former CEO Aubrey McClendon’s noncompete agreement, giving him the right to acquire oil and natural gas holdings that are adjacent to the company’s wells in which he holds a stake. However, McClendon first would have to offer to Chesapeake the rights to purchase the adjacent properties on the same terms, and if more than 40% of the properties are next to the company’s operations, he would have to obtain its consent, according to a Form 8-K filing with the Securities and Exchange Commission. The filing indicated that Chesapeake would pay McClendon almost $50 million in severance, with the last payment in July 2014. He also is allowed the use of a company aircraft through 2016. McClendon agreed, for one year from the effective date of Jan. 29, 2013, not to hire any Chesapeake employee after April 1 except an employee assigned to provide accounting support or as an assistant; who had been terminated, but had not voluntarily departed; elected to accept any voluntary severance or retirement program offered by the company; or for whom the company consented in advance.

April 29, 2013

Summit Buying North Dakota, Colorado Midstream Company

Summit Investments has agreed to acquire Bear Tracker Energy LLC for $513 million from affiliates of GSO Capital Partners LP and Bear Tracker Investments LLC. Midstream company Bear Tracker is focused on oil and natural gas in North Dakota and Colorado.

January 11, 2013
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