Advisors

Industry Brief

Kirkpatrick Oil & Gas LLC has hired E-Spectrum Advisors LLC to sell its nonoperated, horizontal Eagle Ford and Pearsall shale properties in La Salle and Frio counties, TX. Kirkpatrick’s ownership includes 41 producing wells, operated by Cheyenne Petroleum Co., making approximately 6,000 gross/135 net boe/d, and nine wells in various stages of drilling and completion. In addition, nine locations are permitted for drilling. Kirkpatrick holds an approximate 3% working interest and the typical lease delivers a 77% net revenue interest. The properties hold 11,281 gross/338 net acres of leasehold. Reserves include net proved reserves of 1.18 MMboe (88% oil/liquids). Offers are due by July 30.

June 24, 2013

Industry Brief

U.S. Capital Advisors LLC (USCA) has made a $24.1 million preferred equity investment in newly formed Badger Midstream Energy LP. The investment from USCA clients combined with a “significant” investment from the company’s general partner and an additional outside investor allowed Badger Midstream to complete its acquisition of Midstream Energy Services LLC (MES), a private midstream company based in Tulsa, OK. MES and the contribution by High Point Energy LLC of 100% of Dry Trails Midstream Energy LLC will now form the base set of assets under Badger, the company said. “Our primary goal now is to increase the utilization, optimization, and performance of these combined assets, ” said Badger Midstream CEO Alex Bucher.

April 24, 2013

Court: FERC Lacks Jurisdiction in Futures Markets

A federal appeals court in Washington, DC, Friday granted the plea of a former natural gas trader for failed hedge fund Amaranth Advisors LLC to overturn an agency order imposing a $30 million penalty for allegedly manipulating natural gas futures.

March 25, 2013

Court: FERC Lacks Jurisdiction in Futures Markets

A federal appeals court in Washington, DC, Friday granted the plea of a former natural gas trader for failed hedge fund Amaranth Advisors LLC to overturn an FERC order imposing a $30 million penalty for allegedly manipulating natural gas futures.

March 18, 2013

Eagle Ford Seen Putting the Swagger in South Texas

Anyone familiar with the Eagle Ford Shale shouldn’t be surprised that U.S. Capital Advisors analyst Cameron Horowitz would title his latest note on the play “South Texas Swagger.”

October 15, 2012

Eagle Ford Putting ‘Swagger’ in South Texas

Anyone familiar with the Eagle Ford Shale shouldn’t be surprised that U.S. Capital Advisors analyst Cameron Horowitz would title his latest note on the play “South Texas Swagger.”

October 15, 2012

CFTC Reinstates Rule for Registration of CPOs, CPAs

The Commodity Futures Trading Commission (CFTC) Thursday finalized amendments requiring commodity pool operators (CPO) and commodity trading advisors (CTA) to bring their swaps activities under the agency’s oversight. They will be required to register with the Commission, giving their customers the benefit of the protections of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

February 13, 2012

Industry Briefs

A lawsuit filed by Amaranth Advisors LLC claiming JPMorgan Chase & Co. executives helped to cause the natural gas hedge fund to collapse may not proceed, New York Supreme Court Judge O. Peter Sherwood has ruled. The hedge fund imploded in a $6.4 billion debacle in 2006 on bad bets on natural gas futures and derivatives deals. Amaranth sued the bank a year later for its alleged role in the fund’s demise, claiming that JPMorgan officials interfered in a deal with Citadel by disparaging Amaranth’s financial condition (see NGI, Nov. 19, 2007). In a 32-page ruling Sherwood said Citadel had “conducted its own research in connection with the proposed transaction with the fund and evidence of the tenuousness of the fund’s financial condition was readily available” (Amaranth LLC v. JPMorgan Chase & Co., No. 603756/2007, New York Supreme Court, New York County).

August 15, 2011

Amaranth’s Case Against JPMorgan Dismissed

A lawsuit filed by Amaranth Advisors LLC four years ago that claimed JPMorgan Chase & Co. executives helped to cause the natural gas hedge fund to collapse may not proceed, a New York Supreme Court judge ruled on Friday.

August 9, 2011

Midstream Buildout Targets Avalon Shale

Activity in the Delaware Basin of West Texas-southeastern New Mexico — specifically the Avalon and Wolfcamp shales and Bone Spring formation — has heated up enough for Nuevo Midstream LLC to take its gas processing plant near Orla, TX, out of mothballs.

May 10, 2011
‹ Previous 1 2 3 5