Reese Energy Consulting’s Post

‘Tis the Season for Midstream Deals and Decisions in the Permian Jingle bells are ringing this week in the Land of Oil and Gas A-plenty where midstream operators are already unwrapping holiday gifts. Reese Energy Consulting today is following the latest from the Permian, starting with Midland, Texas-based rockstars Kinetik Midstream and E&P Permian Resources. Kinetik, which in short order has become the Delaware’s largest independent gatherer and processor, operates 4,600+ miles of natural gas and crude oil pipe, and six gas plants with another under construction and another one planned. The company in 3Q reported $83.7 million in net income—a 94% increase year over year—and fattened its stake in Diamondback Energy’s EPIC crude pipeline to 27.5%. Kinetik will now further expand its “super system” in a $180 million bolt-on deal for Permian Resources’ Delaware oil and gas midstream assets. Kinetik gains 60,000 gross acres dedicated by Permian Resources under long-term, fixed-fee agreements that include 150 MMCFD and an estimated 250 MBPD next year, 250 MMCFD of compression, and natural gas processing. For its part, Permian Resources is sticking to its guns to remain the Delaware’s lowest-cost operator. This, after announcing a third consecutive increase to its full-year production targets and 160.8 MBPD announced in 3Q. Rock on, rockstars. Energy Transfer meanwhile has gifted Permian producers with a FID on the formerly named Warrior natural gas pipeline project. Now known as the Hugh Brinson, the 400-mile pipeline will flow an initial 1.5 BCFD from the Waha Hub to its pipeline connection south of Fort Worth. Phase I completion is expected by year end 2026 to be followed by Phase II which will increase capacity to 2.2 BCFD. Jingle all the way. What do you think? Learn more about REC and our range of midstream services at https://lnkd.in/ewhkGFa. For more info about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.  

Permian Resources has agreed to sell its natural gas and oil gathering systems in Reeves County, Texas, to Kinetik Holdings Inc. for $180 million in cash, pending post-closing adjustments. https://ow.ly/jmf150UoFFY #gathering #divestitures #midstream #oil #gas

‘Tis the Season for Midstream Deals and Decisions in the Permian Jingle bells are ringing this week in the Land of Oil and Gas A-plenty where midstream operators are already unwrapping holiday gifts. Reese Energy Consulting today is following the latest from the Permian, starting with Midland, Texas-based rockstars Kinetik Midstream and E&P Permian Resources. Kinetik, which in short order has become the Delaware’s largest independent gatherer and processor, operates 4,600+ miles of natural gas and crude oil pipe, and six gas plants with another under construction and another one planned. The company in 3Q reported $83.7 million in net income—a 94% increase year over year—and fattened its stake in Diamondback Energy’s EPIC crude pipeline to 27.5%. Kinetik will now further expand its “super system” in a $180 million bolt-on deal for Permian Resources’ Delaware oil and gas midstream assets. Kinetik gains 60,000 gross acres dedicated by Permian Resources under long-term, fixed-fee agreements that include 150 MMCFD and an estimated 250 MBPD next year, 250 MMCFD of compression, and natural gas processing. For its part, Permian Resources is sticking to its guns to remain the Delaware’s lowest-cost operator. This, after announcing a third consecutive increase to its full-year production targets and 160.8 MBPD announced in 3Q. Rock on, rockstars. Energy Transfer meanwhile has gifted Permian producers with a FID on the formerly named Warrior natural gas pipeline project. Now known as the Hugh Brinson, the 400-mile pipeline will flow an initial 1.5 BCFD from the Waha Hub to its pipeline connection south of Fort Worth. Phase I completion is expected by year end 2026 to be followed by Phase II which will increase capacity to 2.2 BCFD. Jingle all the way. What do you think? Learn more about REC and our range of midstream services at https://lnkd.in/ebXT2mS. For more info about our online natural gas training courses, visit us at https://lnkd.in/g_jDyx_Y. #energy #midstream #construction #gasprocessing #pipelines #naturalgas #ngls #reeseenergyconsulting

Breaking: Permian Midstream Transaction “Permian Resources will sell its oil and gas gathering systems, largely in Reeves County, Texas, to Kinetik Holdings for $180 million, the E&P said Dec. 10. The Delaware Basin natural gas and oil pipeline systems include a combination of both recently purchased and legacy company-owned midstream infrastructure and exclude any water infrastructure or surface acreage, Permian Resources said.” #energymarketingpro #naturalgas #permianbasin

#US_pipeline US pipeline operator ONEOK Inc. agreed to buy a Permian Basin rival and a controlling stake in another company in two transactions valued at a combined $5.9 billion. ONEOK will acquire Global Infrastructure Partners’ entire interest in EnLink Midstream LLC and also buy GIP’s equity interests in Medallion Midstream, the largest closely held crude gathering and transportation system in the Permian, it said in a statement late Wednesday. The move expands ONEOK’s presence in the most prolific US oil and gas basin. It’s the latest in a spate of deals in the industry as private equity firms offload assets to corporate buyers. Operators of oil and gas assets are looking to scale up as cash-flush fossil fuel companies consolidate and look to refresh their drilling inventory. New York-based Global Infrastructure Partners is a private equity firm specializing in energy, transportation, water and waste management. ONEOK shares gained 0.8% in New York. EnLink surged 11%. https://lnkd.in/dCFiT6nS

WhiteWater Plays its Hand Permian producers, rejoice. While you await opening ceremonies on the 580-mile Matterhorn Express that will transport up to 2.5 BCFD of natural gas from West Texas to near Houston, there’s even more cause for celebration. Reese Energy Consulting today is following the latest on what’s been described as West Texas Hold ‘Em among midstream operators to play the first FID card on the next major Permian pipeline. That card has now been played. The WPC joint venture between WhiteWater Midstream, MPLX GP LLC, and Enbridge, in partnership with Targa Resources, has gone all-in to build the 365-mile Blackcomb Pipeline to flow 2.5 BCFD of natural gas from the Texas Permian to Agua Dulce. These are the same folks who brought you the 450-mile Whistler. Whistler Pipeline back in March announced it will combine its natural gas assets with the planned Enbridge Rio Bravo Pipeline in a new JV. WhiteWater is also behind the Matterhorn and Agua Blanca. The Blackcomb Pipeline will source gas from multiple upstream connections, including gas plants in the Midland and the Agua Blanca Pipeline in the Delaware. Shippers aboard include Devon Energy, Diamondback Energy, Marathon Petroleum Corporation, and Targa. Project completion is expected in the second half of 2026. What do you think? Learn more about REC and our natural gas and midstream consulting services at https://lnkd.in/ebXT2mS. For more information about our online natural gas training courses, visit us at https://lnkd.in/g_jDyx_Y. #energy #naturalgas #pipelines #lng #permianbasin #reeseenergyconsulting

Since the advent of horizontal drilling, Appalachia operators have largely targeted the Marcellus Shale. Natural gas is king in Appalachia, and the basin is home to some of the nation’s largest natural gas producers. https://lnkd.in/ejBApRd7

The oil and gas industry in West Texas, particularly in the Permian Basin, has had a profound economic impact, driving job creation, investment, and economic growth in the region.  Download the list of accounts driving the West Texas oil & gas industry https://lnkd.in/gD__gcHz

NEW LISTING: Eagle River Energy Advisors, LLC has been exclusively retained by SOGC, Inc. (formerly Sinclair Oil & Gas Company) to divest certain operated working interest and assets in the Arkoma Basin. The assets provide the opportunity to acquire a gas-weighted production stream of 515 Mcfe/d. Additionally, this package has stable with a shallow forecast decline of ~7% and a NTM Cash Flow of $173,000. Lastly, 2,246 net acres of leasehold provides significant exposure to future development of the Woodford Shale. SOGC, Inc. (formerly Sinclair Oil & Gas Company) is a privately held, vertically integrated oil company involved in all aspects of the oil and gas industry, from exploration to marketing. Founded in 1916 by Harry F. Sinclair, Sinclair Oil & Gas Company is one of the oldest continuous brands in the oil business, with their dinosaur being one of the most recognized icons in the United States. Bids for the Acquisition Opportunities with SOGC, Inc. referenced in this press release are due August 21, 2024. Contact the Eagle River Energy Advisors, LLC team to learn more. #OilandGas #ArkomaBasin #Oklahoma

SM Energy’s Q3 2024 results highlight exceptional production growth across South Texas, the Permian Basin, and their newly acquired Uinta Basin assets. In South Texas, the Austin Chalk continues to outperform expectations, while Midland’s Sweetie Peck and Klondike areas deliver high returns with strong well performance. The Uinta Basin acquisition adds significant scale, with new wells showing high oil content and efficiency improvements from in-basin resources, positioning SM Energy for continued growth and shareholder returns. Get 2024 drilling report https://lnkd.in/gKMV_By4