Acquired

Industry Brief

Cardinal Energy Grouphas agreed to purchase fromKansas Petroleum Resources LLCa 100% working interest in oil and natural gas leases in Kansas that cover about 17,000 acres in Pawnee and Hodgeman counties and other operational assets. The wells to be acquired are within the oil producing zones of the Mississippian Lime formation, Lansing-Kansas City limestone formation, the Cherokee Sand Basin and the Permian Chase Group formations. Financial terms of the deal were not released. The acquisition is part of Cardinal’s ongoing plan “to build a portfolio of oil and gas properties in the continental United States that are poised for further development,” the company said. The assets include 3-D seismic surveys, 19 vertical oil-producing wells and two water disposal wells that have been drilled into the Arbuckle formation, according to Cardinal CEOTimothy Crawford. Upon completion of the acquisition, Cardinal’s annual oil production is expected to increase by at least 300 b/d.

August 23, 2013

Industry Briefs

NGL Energy Partners LP has acquired the assets of High Roller Wells LLC’s Big Lake SWD No. 1 Ltd., a Texas limited partnership. The Big Lake acquisition expands NGL’s water services business by adding a high-capacity, strategically located, oil and gas water disposal facility to its portfolio of water treatment and gathering infrastructure. The acquisition brings an 25,000 barrels of disposal capacity in the growing Permian Basin in West Texas, the company said.

July 9, 2013

QEP’s Initial Bakken Drilling Results Get Rave Reviews

Denver-based exploration and production (E&P) independent QEP Resources Inc. reported encouraging results from its first four-well pad drilling on recently acquired South Antelope property in the Williston Basin in North Dakota. QEP said it also completed nine wells — four in the Bakken and five in the Three Forks formations on the Fort Berthold Indian Reservation.

June 11, 2013
Aurora Starts Drilling New Eagle Ford Acreage Early

Aurora Starts Drilling New Eagle Ford Acreage Early

Aurora Oil & Gas Ltd. has begun drilling activities earlier than expected on its recently acquired Eagle Ford Shale acreage, the Australia-based company said Monday.

June 4, 2013

TexStar Acquires Eagle Ford Shale Pipeline

TexStar Midstream Services LP has acquired Tierra Pipeline LP from The Tierra Companies, and the companies said they have tentatively agreed on the sale of trucking operator Tierra Transportation to Black Creek Well Services, a TexStar sister company, with closing expected by July 1.

April 22, 2013
Energy & Exploration Expands Eaglebine Footprint

Energy & Exploration Expands Eaglebine Footprint

Energy & Exploration Partners Inc. (E&E) on Monday acquired 57,275 net acres and 11 producing wells in the East Texas Eaglebine formation from a subsidiary of Chesapeake Energy Corp.

April 16, 2013

New Midstream Company Targeting Liquids-Rich Utica

Crosstex Energy Inc. and former management of Enerven Compression Services are forming a company called E2 that will serve Utica Shale producers with natural gas compression and condensate stabilization facilities for their liquids-rich production.

March 7, 2013

EDF Buys ConocoPhillips’ Midwest C&I Gas Portfolio

Europe’s EDF Trading has acquired ConocoPhillips’ Midwest commercial and industrial (C&I) natural gas portfolio, the EDF Group subsidiary said Thursday. Financial details of the transaction were not disclosed.

January 11, 2013

Industry Brief

Plains All American Pipeline LP (PAA) has agreed to pay Chesapeake Energy Corp. $125 million for crude oil and condensate gathering assets in the Eagle Ford Shale. The acquired assets are complementary to and would be connected with PAA’s existing crude oil and condensate gathering systems. Included in the purchase are 40 miles of crude oil/condensate gathering pipelines with a throughput capacity of 50,000 b/d; 150,000 bbl of existing crude oil and condensate storage capacity; 300,000 bbl of storage capacity under construction; and a truck unloading terminal. Chesapeake agreed to provide long-term acreage dedications of future production from its South Texas leasehold in Webb and Dimmit counties.

December 18, 2012

Industry Briefs

Costar Midstream LLC has acquired more than 80 miles of natural gas gathering pipelines, associated compression and treating assets in Gregg County in northeast TX. Costar operates 75,000 Mcf/d of gas processing capacity, 8,000 b/d of natural gas liquids (NGL) fractionation capacity, 20,000 hp of compression, and 30,000 Mcf/d of gas treating capacity in the area. As a result of the acquisition, Costar will construct 10 miles of 12-inch diameter pipeline to connect the NGL-rich gas supply to Costar’s existing processing plant and 600 miles of gathering pipelines. Costar is a portfolio company of Energy Spectrum Capital and was formed in April 2011 to acquire and develop midstream infrastructure.

December 18, 2012