Family-owned Henry Resources LLC, which has worked the Permian Basin for 50 year, is partnering up with Houston energy investor Pickering Energy Partners (PEP) to acquire more oil and natural gas assets.
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Vitol Partnering with Mozambique’s ENH to Globally Trade LNG, LPG and Condensate
Swiss giant Vitol Inc. is launching an energy trading venture with ENH, the national oil company (NOC) of Mozambique, where a plethora of natural gas reserves has opened the region to mega export projects.
NGP, Former RSP Permian Execs Ready Launch of Blank Check Energy Company
Dallas-based Switchback Energy Acquisition Corp., a blank check company organized by veteran energy executives and private equity giant NGP Natural Resources XII LP, is laying plans to create a Lower 48 oil and gas operator.
Briefs — XTO Fine
Blue Ridge Mountain Resources Inc. stockholders have approved the company’s merger with Eclipse Resources Corp., clearing one of the last hurdles for the combination. The deal has already been approved by boths boards and Eclipse’s stockholders. Once the transaction is completed, which is expected in the last week of February, the new company is to be renamed Montage Resources Corp. and trade on the New York Stock Exchange under the symbol “MR.” The new company would have a 227,000 net acre position in Ohio, Pennsylvania and West Virginia, and produce about 560 MMcfe/d.
NFG’s Seneca Resources Ramping Up Activity to Fill New Pipe Capacity
More than half of National Fuel Gas Co.’s (NFG) fiscal year (FY) 2019 capital expenditures are to be spent on its upstream business in Appalachia, as plans call for subsidiary Seneca Resources Corp. to continue running three rigs with year/year production forecast to increase by 24%.
Jagged Peak Cites Permian Well Delays in 4Q; CEO Unexpectedly Stepping Down
Denver-based Jagged Peak Energy Inc., whose expertise is centered in the Permian Basin, said well delays cut into fourth quarter production results, which should be rectified this year. However, the unexpected decision by CEO Joseph N. Jaggers to step aside in March overshadowed preliminary results.
Cabot Keeping Close Eye on Commodity Prices, Pipeline Projects
Cabot Oil & Gas Corp. is forecasting a slight decline in sequential production during the third quarter and weaker realized prices, but management still expects growth as the company exits the year and heads into 2018, when more takeaway capacity could help to double its Marcellus Shale production.
Sunoco Again Stops ME2 Construction to Deal With Water Contamination Fallout
Sunoco Pipeline LP has again elected to stop horizontal directional drilling (HDD) for its Mariner East (ME) 2 natural gas liquids pipeline at a site in southeast Pennsylvania to deal with the water well problems the operations have caused for nearby landowners.
Abraxas Seeking Bolt-Ons, Says Production to Increase After Six Wells Completed
Abraxas Petroleum Corp. said it expects production to increase dramatically later this year once six wells are completed in the coming weeks. Meanwhile, the company is in negotiations for bolt-on acquisitions in the plays were it is active — the Delaware sub-basin, Williston Basin and the Eagle Ford Shale.
Gulfport Energy Turns First SCOOP Wells to Sales
Gulfport Energy Corp. recently completed and turned to sales its first Woodford Shale wells in the South Central Oklahoma Oil Province (SCOOP), with plans to test two other horizons in the play this summer.