Denver-Julesburg Basin

Tallgrass Seeking to Convert Natural Gas Pipeline System to Transport CO2

Tallgrass Seeking to Convert Natural Gas Pipeline System to Transport CO2

Trailblazer Pipeline Co. LLC (TPC) and Rockies Express Pipeline LLC (REX) are moving through the regulatory process with plans to abandon the Trailblazer system and repurpose the infrastructure for carbon dioxide (CO2) transportation.  The two Tallgrass Energy Partners-owned midstreamers in late May filed plans for the abandonment project with FERC.  The plan involves abandoning 392…

July 25, 2022
Paul Ryan-Led SPAC in $1.3B Deal to Create Lower 48 E&P

Paul Ryan-Led SPAC in $1.3B Deal to Create Lower 48 E&P

A special purpose acquisition company (SPAC) chaired by former House Speaker Paul Ryan is teaming up with Dallas-based private equity (PE) firm Grey Rock Investment Partners to form a publicly traded Lower 48 exploration and production (E&P) company. Under the proposed transaction, Grey Rock would join forces with Ryan’s Executive Network Partnering Corp. (ENPC) to…

May 17, 2022
PDC Eyeing Double-Digit Oil, Natural Gas Output Growth

PDC Eyeing Double-Digit Oil, Natural Gas Output Growth

Denver-based PDC Energy Inc. earlier this month closed on its $1.3 billion acquisition of crosstown independent Great Western Petroleum LLC and is forecasting production growth of as much as 23% by the end of June “We’re ready to start this integration,” CEO Bart Brookman told analysts during the earnings call for the first quarter. PDC…

May 16, 2022
Civitas Builds Natural Gas, Oil Drilling Inventory in Colorado’s DJ

Civitas Builds Natural Gas, Oil Drilling Inventory in Colorado’s DJ

Denver-based Civitas Resources Inc., the largest producer in the Denver-Julesburg (DJ) Basin, has already secured most planned drilling permits for 2022, the management team said recently. “We’re over 90% permitted for the year,” Civitas’ COO Matt Owens told analysts during the earnings call to discuss first quarter results. Civitas last year completed its takeover of…

May 9, 2022
Lower 48 Oil, Natural Gas Permitting Climbs in February, Led by Permian, DJ and Eagle Ford

Lower 48 Oil, Natural Gas Permitting Climbs in February, Led by Permian, DJ and Eagle Ford

Lower 48 oil and natural gas permitting activity has picked up since the beginning of the year, climbing by 9% through February from a year ago, according to Evercore ISI. There were 188 more permits issued in February month/month (m/m). However, permitting was still down by half from February 2019, on the cusp of the…

March 22, 2022
Oxy’s Hollub says More Capital Needed to Sustain Production in 2022

Oxy’s Hollub says More Capital Needed to Sustain Production in 2022

Occidental Petroleum Corp. will need to spend more capital in 2022 to maintain oil production at 2021 levels, CEO Vicki Hollub said. Hollub discussed the plans of Occidental, better known as Oxy, during a conference call to discuss fourth-quarter results. Houston-based Oxy is one of the largest U.S. oil producers, with a leading footprint in…

March 3, 2022
Chevron Working to Gain RSG Label for Five Well Sites in Permian, DJ

Chevron Working to Gain RSG Label for Five Well Sites in Permian, DJ

Chevron Corp. is piloting a project with Project Canary to independently certify some North American natural gas production in the Permian and Denver-Julesburg (DJ) basins. The pilot, using the TrustWell program, would differentiate operational and environmental performance from five well sites. The end goal is to deliver responsibly sourced gas (RSG) to market by mid-year.…

March 2, 2022
PDC Energy to Acquire DJ-Focused Great Western for $1.3B

PDC Energy to Acquire DJ-Focused Great Western for $1.3B

PDC Energy Inc. said Monday it agreed to buy Denver-Julesburg (DJ) Basin operator Great Western Petroleum LLC in a $1.3 billion cash-and-stock deal that would “materially” boost its holdings in Colorado’s Wattenberg field. The Denver-based PDC said the deal, which includes $500 million in net debt, would be financed by issuing about four million shares…

February 28, 2022
Civitas Grabs Bigger DJ Foothold with Takeover of Bison Oil

Civitas Grabs Bigger DJ Foothold with Takeover of Bison Oil

Denver-based Civitas Resources Inc., the largest oil and natural gas producer in the Denver-Julesburg (DJ) Basin, has added another trophy to its portfolio by snapping up Bison Oil & Gas II LLC in a cash-and-stock swap worth an estimated $346 million. Once the transaction is completed, now expected by the end of March, the takeover…

February 9, 2022
Colorado Makes First Assessment of State’s Oil, Natural Gas Emissions

Colorado Makes First Assessment of State’s Oil, Natural Gas Emissions

The Colorado Oil and Gas Conservation Commission (COGCC) last month released its first annual report to evaluate the cumulative impacts of oil and natural gas emissions, setting the stage for future evaluations and recommendations.  State Senate Bill (SB) 181, enacted in 2019, is designed to limit the effects of emissions and environmental disruptions from oil…

January 24, 2022
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