•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Gateway buys Barnett shale gathering system

    Gateway Energy Corp. has acquired the Hickory Creek Gathering System from Hickory Creek Gathering LP and Range Texas Production LLC for a cash purchase price of $3.9 million. 

    The gathering system is located in Denton County, Texas, in the core area of the Barnett Shale and currently services two significant producers. There are currently 15 producing wells connected to the system with throughput of roughly 11,000 MMbtu per day at a fixed gathering fee for each MMbtu transported.

    The producers have identified up to 18 additional drilling locations within the dedicated leases for future development. The $3.9 million purchase price was paid with a combination of available cash and the company's existing line of credit.

    Based on projected 2010 production, Gateway expects the Hickory Creek Gathering System to increase its revenue in 2010 by approximately $772,000, assuming no additional wells are placed on the system during 2010.

    Gateway Energy Corp. owns and operates natural gas gathering, transportation and distribution systems in Texas, Texas state waters and in federal waters of the Gulf of Mexico off the Texas and Louisiana coasts.

    Related Articles

    PXD sells Hugoton, Barnett assets for $495M

    08/05/2014 Working to redeploy capital to its oily Sprayberry and Wolfcamp assets in the Permian Basin, Dallas-based Pioneer Natural Resources Co. has agreed to sell all of its assets in the Hugoton field and...

    Denton city council rejects partial ban on hydraulic fracturing

    07/17/2014 Denton, Texas, city council members have rejected a bid that would have made it the first city in the state to ban further permitting of hydraulic fracturing in the community, according to a report...

    Baker Hughes gives second-quarter well count

    07/14/2014 Baker Hughes Inc. reports that the US onshore well count for the second quarter of 2014 was 9,394 wells, up 428 wells or 5% compared to the first quarter of the year. Compared to the second qu...

    KKR and Riverstone Holdings to form Trinity River Energy

    07/10/2014 KKR and Riverstone Holdings LLC report the signing of a definitive agreement to merge the existing assets held by KKR Natural Resources Funds with the assets of Legend Production Holdings LLC to cr...

    Vantage Energy files for $400M IPO

    07/08/2014

    Vantage Energy Inc., a privately-held oil and gas company, plans to raise approximately $400 million in an IPO. 

    More Oil & Gas Financial Articles

    PXD sells Hugoton, Barnett assets for $495M

    Tue, Aug 5, 2014

    Working to redeploy capital to its oily Sprayberry and Wolfcamp assets in the Permian Basin, Dallas-based Pioneer Natural Resources Co. has agreed to sell all of its assets in the Hugoton field and the Barnett Shale for total cash proceeds of $495 million.

    Denton city council rejects partial ban on hydraulic fracturing

    Thu, Jul 17, 2014

    Denton, Texas, city council members have rejected a bid that would have made it the first city in the state to ban further permitting of hydraulic fracturing in the community, according to a report from the Associated Press.

    Baker Hughes gives second-quarter well count

    Mon, Jul 14, 2014

    Baker Hughes Inc. reports that the US onshore well count for the second quarter of 2014 was 9,394 wells, up 428 wells or 5% compared to the first quarter of the year. Compared to the second quarter of 2013, the well count was up 383 wells or 4%.

    KKR and Riverstone Holdings to form Trinity River Energy

    Thu, Jul 10, 2014

    KKR and Riverstone Holdings LLC report the signing of a definitive agreement to merge the existing assets held by KKR Natural Resources Funds with the assets of Legend Production Holdings LLC to create Trinity River Energy LLC.

    Vantage Energy files for $400M IPO

    Tue, Jul 8, 2014

    Vantage Energy Inc., a privately-held oil and gas company, plans to raise approximately $400 million in an IPO. 

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ