Midcontinent

Tapstone Energy Wins Chesapeake’s Midcontinent Assets in Bankruptcy Auction

Tapstone Energy Wins Chesapeake’s Midcontinent Assets in Bankruptcy Auction

Chesapeake Energy Corp. has sold its massive Oklahoma asset position to Tapstone Energy LLC for $130.5 million.  Both Oklahoma City producers reached a deal after Tapstone successfully bid for the assets during a bankruptcy auction last week. Tapstone had been selected as the stalking horse bidder last month, when the U.S. Bankruptcy Court for the…

November 19, 2020
Chesapeake Cleared by Bankruptcy Court to Sell Midcontinent Assets

Chesapeake Cleared by Bankruptcy Court to Sell Midcontinent Assets

A court has authorized Chesapeake Energy Corp. to sell its Midcontinent assets and approved procedures to get the process started.  Under an order issued by the U.S. Bankruptcy Court for the Southern District of Texas, Chesapeake has until Oct. 22 to designate a stalking horse bidder that would set the bar for the value and…

October 12, 2020
Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Houston-based Black Bear Transmission LLC said Thursday it has completed the sale of natural gas gathering assets in Oklahoma and Arkansas acquired earlier this year from Enbridge Inc.   The assets, owned by Ozark Gas Gathering LLC (OGG), were sold to an undisclosed buyer and terms were not released. OGG was acquired from Enbridge as part…

October 1, 2020
Bankruptcies Accelerating in North American Oil Patch, with More Carnage Said Likely

Bankruptcies Accelerating in North American Oil Patch, with More Carnage Said Likely

Bankruptcies in the North American oil patch “have substantially picked up pace” so far in 2020, due largely to the impact of Covid-19 on prices and demand, according to a new report published Tuesday by Haynes and Boone LLP. The Dallas-based international corporate law firm has been tracking bankruptcy filings in the exploration and production…

August 11, 2020
Midcontinent Oil, Gas Execs Looking for Higher Prices to Boost Activity as Covid-19 Takes Toll

Midcontinent Oil, Gas Execs Looking for Higher Prices to Boost Activity as Covid-19 Takes Toll

Oil and natural gas operators that work through the midsection of the country faced dire activity levels during the second quarter and don’t expect much of an uptick through the rest of the year. The Federal Reserve Bank of Kansas City, aka the Kansas City Fed, every quarter traces energy activity in the Tenth District,…

July 13, 2020
Finally Toppled by Debt, Chesapeake in Bankruptcy

Finally Toppled by Debt, Chesapeake in Bankruptcy

Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt.  The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…

June 29, 2020
EIA Cites Dramatic Improvements in U.S. Onshore Drilling Efficiency Amid Record 2019 Oil, Natural Gas Output

EIA Cites Dramatic Improvements in U.S. Onshore Drilling Efficiency Amid Record 2019 Oil, Natural Gas Output

Surging U.S. crude oil and natural gas production over the last decade or so has been accompanied by dramatic improvements in onshore drilling efficiency, the Energy Information Administration (EIA) said Thursday. Oil and gas output each hit all-time highs in 2019, even as the average monthly rig count and number of wells drilled per month…

June 25, 2020
Midship Pipeline Starts Service to Meet LNG, Gulf Coast Demand in a Down Market

Midship Pipeline Starts Service to Meet LNG, Gulf Coast Demand in a Down Market

Cheniere Energy Inc.’s Midship Pipeline has entered service to move more natural gas from the Midcontinent to Gulf Coast and Southeast markets, including the company’s Corpus Christi liquefied natural gas (LNG) export terminal in South Texas.

April 22, 2020

Cimarex Ties Exec Compensation to Reducing Emissions, Natural Gas Flaring

The management team of Denver-based Cimarex Energy Co., whose operations are concentrated in the Permian Basin and Midcontinent, wants to be an active participant in how national policies are set for environmental stewardship, but first it has to walk the walk, CEO Tom Jorden said last week.

February 24, 2020

Industrial Demand Said ‘Unsung Hero’ of U.S. Natural Gas Demand

Investors with long positions in natural gas can take comfort in growing industrial sector demand, according to an industry veteran who spoke Monday in Chicago.

September 9, 2019
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