Vesta

Vesta Secures C$295 Million in Private Funding to Develop Area of Duvernay Shale

Vesta Energy Corp., a privately-held exploration and production (E&P) company focused on light oil targets in a shallow area of Alberta’s Duvernay Shale, has secured C$295 million (US$217.9 million) in financing from a group of private equity firms.

May 18, 2017

Briefs — Vesta Midstream

Tulsa-based Vesta Midstream Partners LLC said it plans to design and construct its Oil City Gathering and Processing System in Carter County, OK, to offer low- and high-pressure gas gathering and processing services to wells in the South Central Oklahoma Oil Province (aka, the SCOOP). “Anchored by a long-term producer contract with a significant acreage dedication, Vesta is well-positioned to provide a broad spectrum of midstream services to producers in the SCOOP and STACK [the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties] areas,” Vesta said. “As the company begins construction and works to meet the needs of its producer customers, Vesta will also consider projects in other oil and gas basins as well.” Vesta formed recently with private-equity backing from Dallas-based Energy Spectrum Partners VII LP.

February 9, 2017

Briefs — EQT Corp.

An EQT Corp. subcontractor accidentally drilled into an abandoned coal mine in Southwest Pennsylvania, causing mine wastewater to empty into the Monongahela River. Keystone Clearwater Solutions LLC was drilling for a pipeline on January 28 to carry river water to EQT’s drilling site in Forward Township, about 20 miles south of Pittsburgh, when it breached the mine causing the wastewater to leak into a tributary. While the incident was isolated, the Monongahela is one of three major rivers that run through the city. EQT hired another contractor to cleanup and the spill has mostly been contained. The Pennsylvania Department of Environmental Protection said the incident was not expected to cause problems for public drinking water supplies. Gas extraction has increasingly intersected with abandoned and operational mines in the state.

February 3, 2017