Panhandle

Dallas-based Pioneer Natural Resources Co., transitioning to a Permian Basin pure-play, has agreed to sell all of its interests in a former staple, the West Panhandle field in Texas, for $201 million.

Houston-based Linn Energy Inc., which is revamping its exploration and midstreambusinesses, has agreed to sell its estimated 179,000 net acres in the Oklahoma waterflood and Texas Panhandle to an undisclosed buyer for $122 million. Third quarter production for the properties was about 5,200 boe/d, with proved developed reserves of 22.8 million boe. Annualized field level cash flow was estimated at $21 million, while annual general and administrative expenses for the combined properties is around $4-6 million. The sale is expected to close in early 2018 with an effective date of Oct. 1. Jefferies LLC acted as financial adviser for the Texas Panhandle properties, while Kirkland & Ellis LLP acted as legal counsel for both transactions.

As it continues pushing to finish constructing its $4.2 billion Rover Pipeline by 4Q2017, Energy Transfer Partners LP (ETP) through its affiliates has asked FERC for authorization to place the related Panhandle and Trunkline backhaul projects into service.

As it continues pushing to finish constructing its $4.2 billion Rover Pipeline by 4Q2017, Energy Transfer Partners LP (ETP) through its affiliates has asked FERC for authorization to place the related Panhandle and Trunkline backhaul projects into service.

The Red Cave formation, an overlooked tight sands play in West Texas, may see more exploration underway through newly formed Masterson West II LLC, an explorer that would combine the talents of Tulsa’s Empire Petroleum Corp. and long-time Panhandle player Masterson West LLC.

FERC released the final environmental impact statement (EIS) Friday for the Rover Pipeline Project, bringing the major Appalachian takeaway pipe one step closer to construction.

FERC staff released a draft environmental impact statement (DEIS) for the Rover Pipeline LLC project that found “adverse and significant” impacts and makes recommendations to mitigate them that it said should be included in any approval of the project.

The Laclede Group revealed plans Wednesday to build a 60-mile, 24-inch diameter lateral in Missouri and Western Illinois that would interconnect with the Rockies Express (REX) and Panhandle Eastern pipelines.

Panhandle Oil and Gas Inc. is leasing more than 4,000 acres in the Permian Basin in West Texas to an undisclosed lessee for $2 million in cash plus royalties, the company said Monday.